The 4 percent spike was the largest percentage gain since late September.

Peak oil must serve as an "alarm that we need to take more seriously" by diversifying Saudi Arabia's economy, Mohammed al-Sabban said.

First OPEC wanted to be compensated if climate change legislation costs them revenue, and now this: OPEC: give us certainty to investYou only get a small preview of the following story, but I found the bit that is accessible to be pretty humorous:...

Crude oil closed nine cents lower at $67.96 amid high supply by OPEC and low demand by Americans.

I have seen a flurry of recent predictions on oil and gas prices going forward, so I thought I would share some. Most of them support the thesis I recently put forward that we are setting the stage for another run on prices over the next 3-5 years. But ...

I had a feeling we were going to see this pretty soon in response to falling oil prices. It seems that OPEC has grown fond of the idea of oil >$100/bbl. Iran and Venezuela have both been making noise about the need to cut production to defend that price, and ...

I have long maintained that the root of our energy problems in the U.S. stems from our failure to enact a consistent, long-term energy policy. Big energy projects generally take years to complete, and when there is an extra risk that the government will change the rules halfway through the ...

Peak demand or not, oil prices show no signs of subsiding:Oil Surges Above $140 to Record as Libya Warns of Output CutJune 26 (Bloomberg) -- Crude oil jumped above $140 a barrel to a record as Libya threatened to cut output, OPEC's president said ...

In case you missed it, there were several stories this week - and of particular note coming from OPEC - that suggested that much higher oil prices may be on the way:Oil Price May Go Up to $250, Warn ExpertsCrude prices continue to baffle analysts ...

The Associated Press takes a question on oil and gas prices, and does a pretty good job explaining the factors affecting prices:Ask AP: Your News Questions, AnsweredQ: Background (my numbers maybe a little off, but you will see my point): About five years ago, oil ...