NEW YORK (Bloomberg) -- Oil fell below $34/bbl in New York after U.S. gasoline inventories surged the most in 22 years and crude supplies at the American hub climbed to a record. Brent oil dropped to an 11-year low in London. Gasoline stock...

NEW YORK (Bloomberg) -- Oil dropped to a two-week low on speculation that a government report will show U.S. crude inventories climbed last week. Futures fell as much as 1.9% in New York. Stockpiles probably rose the 13th time in 15 weeks,...

LONDON (Bloomberg) -- Oil reversed earlier gains as a global glut outweighed tensions between Saudi Arabia and Iran. Futures surged as much as 4.6% in London earlier after the Saudi government cut ties with Iran following an attack on its e...

TEHRAN (Bloomberg) -- Iran is trying to regain its lost share of global crude sales and has no intention of harming the oil market with its planned increase in production once sanctions are lifted from its economy, Oil Minister Bijan Namdar...

SAN ANTONIO -- On the heels of the U.S. governments recent lifting of the federal ban on the export of crude oil produced in the U.S., NuStar Energy and ConocoPhillips said Wednesday that they are loading what they believe to be the nations...

ABERDEEN, Scotland -- Abu Dhabi National Energy Company PJSC (TAQA), has announced first oil from the new Cladhan field development in the UK North Sea. The field is developed as a subsea tie-back to the TAQA-operated Tern Alpha platform. P...

RIYADH (Bloomberg) -- Saudi Arabia, the worlds biggest crude exporter, continues to cut its dependence on oil revenue due to the slump in oil prices, even as the kingdom keeps boosting production to defend its market share. The kingdoms rev...

HOUSTON (Bloomberg) -- Bankruptcies among oil and gas companies have reached quarterly levels last seen in the Great Recession, according to the Federal Reserve Bank of Dallas. At least nine U.S. oil and gas companies that accounted for mor...

NEW YORK (Bloomberg) -- The days of empty oil tankers leaving the Houston Ship Channel are over. Now that the U.S. has ended crude export restrictions after 40 years, tankers bringing crude oil to Houston and other Gulf Coast ports will als...

HOUSTON -- Enterprise Products Partners has secured its first contract to export crude oil produced in the U.S. under a law enacted last week. The law, which was signed by President Obama on Friday, repealed decades-old export restrictions....