Marathon Oil, the fifth-largest oil refiner in the U.S., is spinning off its refining business into a new company called Marathon Petroleum. Marathon Oil, meanwhile, will reduce its debt as a result of the move and will focus o…
Oil prices touched a two-year high Monday on tighter inventory and expectations that a U.S. economic growth spurt will boost demand this year. Some analysts predict prices could soon gush to $100 per barrel.
Co…
It may be the happiest season of the year, but higher crude oil prices that have translated into higher gasoline prices have many motorists frowning. The weak U.S. dollar and expectations of a more robust economic recovery in t…
Light crude oil prices have been climbing in the last few days, closing the week at $88.94 per barrel on the NYMEX. If prices climb high enough, it could damage the still-weak economy by raising the costs of gasoline, jet fuel …
The Organization of the Petroleum Exporting Countries will leave oil output unchanged, a delegate at the group’s current meeting told Reuters. Oil ministers apparently are not worried the weak dollar will drive up the price of …