Oil and Gas News

April 11, 2012

T. Boone Pickens talks to MSNBC about the Oil and Gas Industry

April 1, 2012

EPA Backpedals on Fracking Contamination

Texas Water-Pollution Suit Dropped; Third Recent Setback on Drilling for Agency

The Environmental Protection Agency has dropped its claim that an energy company contaminated drinking water in Texas, the third time in recent months that the agency has backtracked on high-profile local allegations linking natural-gas drilling and water pollution.

On Friday, the agency told a federal judge it withdrew an administrative order that alleged Range Resources Corp. had polluted water wells in a rural Texas county west of Fort Worth. Under an agreement filed in U.S. court in Dallas, the EPA will also drop the lawsuit it filed in January 2011 against Range, and Range will end its appeal of the

February 21, 2012

Oil price climbs on fear Iran may stop more oil

Oil prices on Tuesday climbed to the highest level since May on concerns about Europe's oil supplies.

Iran announced over the weekend that it will stop selling oil to Britain and France in retaliation for a planned European oil embargo this summer. The move was mainly symbolic — Britain and France import almost no oil from Iran — but it raised concerns that Iran could take the same hard line with other European nations that use more Iranian crude.

January 11, 2012

Oil Trades Near a One-Week High as Iran Tension Counters European Economy

Oil traded near the highest settlement in almost a week as concern that supplies from Iran will be disrupted countered speculation Europe may enter a recession as it struggles to tame its debt crisis.

Oil pared losses of as much as 0.6 percent after Iran’s Fars news agency said a nuclear scientist was killed in a bomb attack in Tehran. U.S. Treasury Secretary Timothy F. Geithner is visiting China and Japan as he seeks support for sanctions against Iran’s nuclear program.

November 28, 2011

Oil tops $100 on stock surge, euro optimism

Crude-oil futures topped $100 a barrel Monday, spurred by a strong start to the holiday-shopping season, a weaker dollar, and a surge for equities.

Light, sweet crude futures for January delivery advanced $2.49, or 2.6%, to $99.26 a barrel on the New York Mercantile Exchange. The contract traded as high as $100.73 in electronic trading ahead of the floor open.

Front-month crude futures had last hit the $100-mark on Nov. 16, when they topped $102 a barrel.