Commodity Markets

The Senate Finance Committee took up a proposal to tax oil profits and gas profits separately, a process known as "decoupling." It's a complex question that could cost the state millions of dollars, if oil prices get relatively higher than gas prices....

To unlock the riches contained in the massive Bakken oil field, oil companies are using relatively new technology. Directional drilling reaches down nearly two miles, aiming to hit a narrow vein of rock wedged between two bands of oil shale. Then liquids...

The effects from the rebellion in Libya are being felt in Alaska, with North Slope oil prices soaring and gasoline prices ready to do the same. Despite declining by $0.82 during trading Thursday, the overall price of North Slope oil has increased by...

Oil bounced back a day after falling below $90 per barrel for the first time in months. Benchmark U.S. oil rose 84 cents to $90.74 per barrel in New York. Brent crude, which is used to price international oil varieties, increased 92 cents to $106.48...

Retail gasoline prices fell in California and across much of the nation over the last week, while crude oil recovered a little of the previous weeks' losses. The average cost of a gallon of regular gasoline in California fell 3.1 cents to $4.336 a...

Crude oil prices have rebounded slightly after falling last week to their lowest levels in six months. Retail gasoline prices were falling in California after a painful 18.6-cent jump over the last two weeks. Nationally, the average retail price for...

Americans depend on foreign imports of oil to the extent of at least 45 percent of our consumption. Nevertheless, TV ads claim that, sometime soon, America should reach independence of foreign oil. We are told shale drilling in the Northeast, Texas and...

CAMP DAVID, Maryland (Reuters) - Leaders of the Group of Eight major economies raised the pressure on Iran on Saturday, signaling their readiness to tap into emergency oil stockpiles quickly this summer if tougher new sanctions on Tehran threaten to...

Los Angeles may be one of the first global cities to adopt a new electric freight trucking system, unveiled by electrical engineering giant Siemens Corp. last week at the 26th Electric Vehicle Symposium, or EVS26. The new technology, called eHighway,...

Analysts said that a crude-oil glut from increasing domestic production and imports from Canada helped drive U.S. oil prices below $100. They added that a change in the flow of a key U.S. oil pipeline that begins this week could help reduce retail...

The lowest May gasoline supplies in the Western U.S. in 20 years have prices climbing again in most places west of the Rocky Mountains, even as they continue to fall across the rest of the nation. In California, pump prices for regular gas have jumped 13....

Average gasoline prices in California jumped 15.4 cents in just a week, according to the Energy Department. Analysts blame the rise on the lowest gasoline supplies for May in the western U.S. in 20 years. In California, the price for regular gas...