crude oil

Crude oil posted its sharpest fall since May on Monday as world stock markets plunged after an unprecedented downgrade of the US credit rating fueled fears of a double-dip recession in the world's biggest economy.

Oil prices plummeted by almost 9 percent on Thursday as traders worried that American drivers were beginning to balk at the price of gasoline.

The 727-million-barrel U.S. Strategic Petroleum Reserve is the largest stockpile of government-owned emergency crude oil in the world.

India and Iran have resolved a dispute over how it pays for Iranian crude oil with New Delhi agreeing to set up a new mechanism that will route payments through a German bank, a finance ministry official said Friday.

A new state report on Alaska North Slope petroleum spills concludes that the flow lines moving crude oil, water and natural gas from wells to processing plants need heightened monitoring.

Despite the recent price surge in crude oil this week, basically going from $81.50 to $87 a barrel within this week--thanks to a Fed's QE2-induced weak dollar-- oil inventories actually added another 2 million barrels build to the current stockpiles.

Precious metals rallied for a second straight week as gold reached an all-time record of $1,301.60 an ounce while silver hit a fresh 30-year high.

In other markets, crude oil gained with other commodities while U.S. stocks surged. Major indexes closed...

Safe-haven buying lifted U.S. gold prices to a six-week high on Thursday before a stronger dollar pressured the yellow metal to close 10 cents lower on Friday.

Crude oil and U.S. stocks finished lower Friday, marking four straight declining days. It was the worst week in six for...

A sharp drop in consumer sentiment and falling inflation helped take U.S. gold to its knees on Friday. The yellow metal was hit for its biggest one-day drop since July 1, accounting for nearly all of its 1.8 percent weekly loss.

Sour consumer sentiment, coupled with weaker than expected corporate earnings reports, was also cited for Friday's 61 cent drop in crude oil and sharp declines in U.S. stocks....

Iran's official news agency says the country has planned next year's budget based on an oil price of $60 per barrel, nearly double the price from last year.