Energy, Gas | featured news

Hillary Clinton boarded a research ship on Saturday to tour the Arctic, where big powers are vying for vast deposits of oil, gas and minerals becoming available as the polar ice recedes.

More Americans will hit the road this holiday weekend than a year ago. And they'll have a bit more money to spend thanks to lower gas prices....

What only weeks ago was seen as a serious threat to the economic recovery could now turn into a stimulus everyone can love. Oil and gasoline prices are sinking, giving relief to businesses and consumers who a few weeks ago seemed about to face the highest fuel prices ever.

A few years ago, rising gasoline prices pretty much destroyed the market for the big trucks, but they have become popular again.

The price of oil suffered its biggest one-day decline in nearly six months Friday, falling below $100 per barrel for the first time since February. A drop in gasoline prices can't be far behind.

Chevron Corp, the second-largest U.S. oil company, reported a slightly higher-than-expected quarterly profit as rising oil prices and refining margins made up for a decline in oil and gas production.

America's soaring pump prices seem to defy the laws of supply and demand, except for one fact: It's increasingly not just about us.

The worst is over, for now. Gasoline prices are starting to fall. After a four-month surge pushed gasoline to nearly $4 per gallon in early April, drivers, politicians and economists worried that gasoline prices might soar past all-time highs, denting wallets, angering voters and dragging down an economy that is struggling to grow.

President Obama on Tuesday urged Congress to help strengthen federal supervision of international oil markets, amid pressure from U.S. voters to take action on rising gasoline prices. The president wants Congress to increase penalties for market manipulation and empower regulators to increase the amount of money energy traders are required to put behind their transactions.