Bush was quoted as saying: We need to send a clear signal to the world: We’re tired of being dependent on oil from overseas. Let’s find it here in the United States of America. For full news, click here
Libya has resumed oil deliveries Switzerland which were stopped last thursday due to diplomatic row. Click here for full story
TNK-BP currently in search for top-notch experts to fill vacant positions due to withdrawal of experts by BP. For full story, click here
Abu Dhabi National Oil Co (Adnoc) of additional supply of oil ahead of maintenance period was declined by buyers. For full story, click here
Although crude is sliding down from its recent highs, long term forces will soon come into play to trigger next huge rally in oil. For full story, click here
Valero energy has been hit by the rising cost of crude as it has soared faster than the price of retail gasoline. The company was quoted as saying: Weaker margins on gasoline were partially offset by substantially higher margins on distillate products such as diesel and jet fuels, which are seeing strong global demand, and improved differentials [...]
Oil prices were trading below $122, after sliding overnight on expectations that steep rise in energy costs will led to a decline in U.S. gasoline demand. For full news, click here
Continental Resources reported strong second quarter growth in oil and gas sales and earnings, thereby generating record results for the company. For full news, click here
Nippon Oil Corp reported that it plans to refine less crude oil in August by 2%, as compared to the the refining done in the same period last year, due to slow domestic oil demand and high gasoline inventories. For full news, click here
Rising oil prices are their own enemy. Demand destruction due to rising energy costs will bring down crude prices. For full news, click here
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