Prices

Oil

Oil falls below $100 for first time since May

The price of oil fell below $100 a barrel for the first time since May even as the deteriorating security situation in Libya has raised questions about whether the country can soon increase crude exports.

Benchmark U.S. crude for August delivery fell 95 cents to close at $99.96 a barrel on the New York Mercantile Exchange. Oil is down 5 percent since the beginning of the month.

Oil

Haslam-owned truck-stop chain won't be charged

NASHVILLE, Tenn. (AP) — The truck-stop company owned by Cleveland Browns owner Jimmy Haslam and Tennessee Gov. Bill Haslam may have put the worst behind it after federal attorneys agreed not to prosecute Pilot Flying J for cheating customers.

In an agreement with prosecutors, the nation's largest diesel retailer acknowledges that employees cheated trucking companies out of promised fuel rebates and discounts. Pilot has agreed to pay a $92 million penalty, which is within the range of what the company would be expected to pay if convicted at trial.

Oil

Oil halts slide on renewed turmoil in Libya

The price of oil paused Tuesday after tumbling last week as a deteriorating security situation in Libya raised questions over the restoration of exports following an agreement between the government and a regional militia.

Prices fell sharply last week as worries about supply disruptions from Iraq eased and on the prospect of more supplies from Libya. Weaker than expected economic data for the first half of the year prompted the International Energy Agency and other experts to trim their forecasts for short and medium term demand.

Oil

Oil barely changed; US gas prices at 3-month lows

Lacking any catalysts, the price of oil barely changed Monday. Meanwhile, gasoline prices in the U.S. slipped to three-month lows.

Benchmark U.S. crude for August delivery rose 8 cents at $100.91 a barrel on the New York Mercantile Exchange. The Nymex contract fell 3.1 percent last week and is down 4.3 percent so far in July. Brent crude, a benchmark for international oils, gained 45 cents to $107.71 on the ICE Futures exchange in London.

Oil

Bank says shale industry to keep up growth, even as prices fall

Source: 
Platts

Investment bank Raymond James told Platts that increased production efficiency means that U.S. shale exploration firms are becoming immune to sluggish commodity prices, keeping up positive growth even with moderate declines in oil and gas prices, Platts reports.

Oil

Oil edges lower after big drop on Libyan supplies

The price of oil edged lower Monday after its biggest one-day drop since April on expectations Libyan oil will soon return to the market.

Benchmark U.S. crude for August delivery was down 39 cents to $100.44 per barrel at 0535 GMT in electronic trading on the New York Mercantile Exchange. It fell 3.1 percent last week and is down 4.3 percent so far in July.

Oil

Pemex monopoly could hinder energy reform implementation: Analyst

Source: 
FuelFix

Mexico's moves to implement new energy reform measures to open the nation's oil reserves to foreign investment could be hindered by Petroleos Mexicanos' monopoly on energy infrastructure, FuelFix reports.

Oil

US gasoline prices drop 4 cents to $3.67 a gallon

CAMARILLO, Calif. (AP) — A survey says the average price of a gallon of regular gasoline in the U.S. has fallen 4 cents over the last three weeks to $3.67.

Industry analyst Trilby Lundberg said Sunday that crude oil prices fell over news that Libyan output has risen and Iraq's production was not substantially harmed by recent violence.

Oil

Oil price falls 2 pct, biggest drop since April

The price of oil plunged 2 percent Friday, the largest one-day drop since April, as Libyan oil appears poised to return to the market while global demand looks to be muted.

Benchmark U.S. crude for August delivery fell $2.10 cents to close at $100.83 a barrel on the New York Mercantile Exchange. It fell 3.1 percent this week, and is down $4.54 a barrel, or 4.3 percent, so far in July.

Oil

Oil price sheds gains as supply worries ease

The price of oil began to fall again on Friday, giving up most of the gains it had made the previous day in the first rally in two weeks.

Benchmark U.S. crude for August delivery was down 54 cents to $102.37 a barrel at 0815 GMT in electronic trading on the New York Mercantile Exchange. The contract closed up 64 cents at $102.93 a barrel on Thursday.

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