Oil prices rallied sharply on Thursday after two days of losses as news of deeper industry spending cuts and a sinking U.S. dollar revived buying.
Energy
Oil rises to $62, near 2015 high as Mideast risks support
Oil rose to $62 a barrel on Tuesday, close to its 2015 high, supported by threats to Middle East supplies and expectations lower prices may prompt a slowdown in U.S. output.
Brent crude extends rally, but analysts warn prices could drop
Brent crude extended its rally on Tuesday, moving further away from six-year lows hit in January, but some analysts warned that prices had risen too far and could face a downward correction.
From cattle to corn, crude oil dive ripples through farm economy
Craig Uden, who fattens cattle for beef on his Nebraska feedlot, expects to cut his energy costs by as much as a quarter this year because of falling oil prices - a silver lining in an otherwise tough rural economy.
Oil markets steady as Japan emerges from recession
Oil prices steadied on Monday as Japan's economy emerged from recession and as strong demand for refined products translated into healthy orders for crude.
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Exxon Mobil Corp's (XOM.N) push to persuade workers at its Beaumont, Texas refinery to sign a five-year contract, nearly twice as long as the last one, is part of an effort to avert labor stoppages during a possible expansion that could make it the largest such plant in the United States, sources familiar with refinery operations said.
An oil tanker has docked at Libya's port of Hariga for the first time since security guards ended a strike this week and a storm passed, a port official said on Thursday.
The Republican-led Congress gave final passage on Wednesday to a bill to approve the long-pending Keystone XL pipeline, a measure that next goes to President Barack Obama, who has vowed to veto it.
Brent hovered near $55 a barrel on Thursday after data showed U.S. crude stockpiles set a record for the fifth week in a row, renewing fears that supply is still far outpacing demand.
Brent crude held steady above $56 a barrel on Wednesday, and U.S. crude rose briefly more than $1, after a smaller-than-expected rise in U.S. crude stocks was viewed by some as a sign that a supply glut was starting to abate.
Crude oil prices fell for the first time in four sessions on Tuesday after the International Energy Agency (IEA) warned that ample supplies will raise global inventories before investment cuts begin to significantly dent production.
The United States will remain the world's top source of oil supply growth up to 2020, even after the recent collapse in prices, the International Energy Agency said, defying expectations of a more dramatic slowdown in shale growth.
Oil jumped for a third straight session on Monday as OPEC forecast greater demand for crude this year than previously thought and projected less supply from countries outside the producer group.
Brent crude prices slipped on Monday as a slump in Chinese imports pointed to lower fuel demand in the world's biggest energy consumer, outweighing falling U.S. oil rig counts and signs of healthy U.S. growth.
