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Crude oil News

Global oil benchmark Brent crude dips below $20 per barrel

US crude oil prices fell below $20 a barrel on Monday, close to their lowest level in 18 years, as traders bet production would have to shut to cope with the collapse in demand from the coronavirus pandemic.

Study: Impact of diluted bitumen on young sockeye salmon deadly

Vancouver - A spill of diluted bitumen would put the survival of young salmon at risk even if the fish end up in clean water following exposure to the oil product, says new research from the University of Guelph.

Crude oil prices dip in anticipation of inventory data release

Crude oil prices dipped on Tuesday before weekly data that is forecast to show rising U.S. crude inventories, although investor confidence in OPEC's ability to curb output helped stem the price slide.

Op-Ed: Trump gives approval for Enbridge's cross-border pipeline

The U.S. State Department issued a Presidential Permit on October 16 for a three-mile stretch of Enbridge Inc.'s Line 67 crude oil pipeline, which will enable the company to nearly double its capacity on the cross-border conduit, after years of regulatory

As crude prices falter, is Big Oil worried about price cuts?

Oil prices were looking up at the start of 2017, with crude hitting a high of $58 a barrel in January after dropping to $27 in 2016. But oil prices have started to flounder again, and the big oil companies are preparing to do some more belt-tightening.

Op-Ed: Cheap oil sinking stock markets

Cheap oil has already affected global markets and economies in countless ways, from disrupting Venezuelan politics to sinking the Russian ruble and introducing the world to “low-flation.”

Almost 21,000 gallons of crude oil leak into ocean off California

Goleta - An estimated 21,000 gallons of crude oil has leaked from a ruptured pipeline just off the Santa Barbara coast in Central California on Tuesday. By this afternoon, the oil had left a slick four miles long, extending 50 yards into the water from the beach.

Op-Ed: Have we learned anything from the latest oil spill?

Glendive - One news source in Montana is expounding on the lessons learned from the 2011 ExxonMobil oil spill. But are the lessons, whatever they may be, really going to change the way we are letting these events impact the environment?

Train carrying crude oil derails in Virginia, raising concerns

Lynchburg - A CSX Corp. train carrying crude oil derailed in downtown Lynchburg, Virginia on Wednesday. Approximately 12 to 14 tanker cars were involved in the accident, with several of the cars bursting into flames, dumping oil into the James River.

Algae converted to crude oil in less than one hour

Scientists have replicated the process whereby fossil fuels were created. Instead of this taking several millennia the process has been completed in under sixty minutes.

Canadian train derails, 575 barrels of crude oil spilled in Sask.

A train derailment in the Canadian province of Saskatchewan has lead to an oil spill. Five cars carrying oil derailed near the town of Jansen but just one spilled oil. The amount spilled was 575 barrels of Western crude.

Keystone not likely to impact rate of development of oil sands

Washington - The US State Department released its "Draft Supplemental Environmental Impact Statement" on the XL Keystone pipeline. The report finds that denial or approval of the pipeline is unlikely to significantly impact the rate of development of the oil sands

Azerbaijan offers crude oil bathing treatments to treat illness

Baku - Oil rich Azerbaijan has so much black gold floating around that petroleum spas offer expensive treatments where the wealthy immerse themselves in baths of crude oil.

Oil prices reach a 2.5-year high amid Middle East turmoil

Oil prices hit a two-and-a-half year high on Thursday, but pulled back late in the session. Brent crude closed at $111.36, up 11 cents while West Texas crude, the US benchmark, closed at $97.28, down 82 cents.

International Energy Agency calls for an end to oil subsidies

London - The International Energy Agency (IEA) has released its World Energy Outlook 2010, forecasting energy use, production, investment and trading into 2035. The Agency has zeroed in on greenhouse gas emissions.

Ecuador comes up with unique oil plan - leave it in the ground

Quito - Ecuador has as-yet untapped crude oil resources, and an estimated 846 million barrels lie below a very special place called the Yasuni National Park.

Scientist plans to put crude into Arctic ocean to test clean-up

The Department of Fisheries and Oceans is behind a plan to dump up to 1,200 liters of crude oil in the Arctic Ocean in a bid to test clean-up responses.

450,000 Gallons of crude oil spilled into Port of Port Arthur

A tank ship filled with crude oil collided into two barges being towed by a tug boat, which saw 450,000 gallons (1.7 million liters) of crude oil spill into Port of Port Arthur.

Revolutionary discovery means world may not run out of crude

A team of scientists based at the Royal Institute of Technology in Sweden have made a "revolutionary" discovery about how hydrocarbon is formed, learning that animal and plant fossils are not necessary to form crude oil.

Gasoline prices rise for 50th straight day

With crude oil prices on the rise - reflecting production crimping and a weaker U.S. dollar - gasoline prices have been on a steady march upward.

Op-Ed: It's Now Official, We Are Being Ripped Off by High Gas Prices

As the price of crude oil drops, the price at the pumps keeps on going up and up. In my mind, it has become official: We are being totally ripped off and I want to know what are you going to do about it.

Oil Prices Raising to Over $86

Not surprisingly, oil prices have once again reached an all time high. Just over the weekend crude oil prices rose $2.44, from $83.69 to $86.13. Crude oil production continues to fall while the demand rises - not a good combination.

Firms Crimping Oil Supplies

An AP analysis and a Pew Research Center poll found in October find. The Pew Research Center is a nonpartisan "fact tank" based in Washington, DC, that provides information on the issues, attitudes and trends shaping the USA and the world.

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Scene from the CXS train derailment in Lynchburg  Virginia on April 30  2014.
Scene from the CXS train derailment in Lynchburg, Virginia on April 30, 2014.
YouTube / ABC13
OIl prices as of 11:59 a.m. Eastern Time on Fedruary 27  2017.
OIl prices as of 11:59 a.m. Eastern Time on Fedruary 27, 2017.
Oil Price
A breach in a pipeline belonging to bridger Pipeline Company is the cause of an oil spill into the Y...
A breach in a pipeline belonging to bridger Pipeline Company is the cause of an oil spill into the Yellowstone River on Jan. 17, 2015.
Whatcom County Washington is on the border with Canada. It already has two oil refineries.
Whatcom County Washington is on the border with Canada. It already has two oil refineries.
Washington Audubon Society

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