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Crude oil prices have added about $5 a barrel since Wednesday's announcement from OPEC that the cartel had reached an agreement to slice more than a million barrels a day from production.
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Many top oil stocks have risen handily. Where the moves look really crazy is in the more speculative second-tier stocks, which are either not as strong in the balance sheet or are still down...
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U.S. commercial crude inventories decreased by 900,000 barrels last week, according to the latest U.S. Energy Information Administration petroleum status report.
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The price for crude Monday morning is about $46 a barrel, and where it goes from there depends on the outcome of a meeting of OPEC oil ministers scheduled for Wednesday in Vienna.
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The OPEC meeting on November 30 could result in a cut of nearly 2% to the world’s daily output if Saudi Arabia gets its way. The Saudis are pushing a cut to daily production to a ceiling of...
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Late Thursday, the U.S. House of Representatives passed a bill blocking the sale of Boeing and Airbus commercial jets to Iran.
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A spokesman for Airbus has told The Wall Street Journal that the aircraft maker has been cleared to transfer 17 planes to the Islamic Republic of Iran.
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Iran reportedly is "sending positive signals" that it may support a freeze on production at the OPEC meeting scheduled for next month.
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In what may be another litmus test for Apple and its commitment to its users' privacy, the government of Iran has threatened to ban the sale of the company's iPhone.
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Saying that it had signed an order with Iran Air "under authorizations from the U.S. government," Boeing confirmed that the Iranian airline intends to buy planes from the U.S. maker.
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Back in January, Airbus announced an agreement with Iran's flag carrier, Iran Air, for 118 new aircraft. A similar deal between Iran Air and Boeing is expected to be announced shortly.
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Reuters reported Monday that some industry sources expect Boeing to strike a deal with Iran Air "fairly soon" for 100 new Boeing jets.
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At a meeting in France last week, Airbus executives reportedly said they expect new orders to top 700 in 2016, about 35% below the number of new orders the company added last year.
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The absence of a decision to freeze oil production at a meeting of some of the world's largest oil-producing nations has scuttled the most promising chance to push crude prices higher.
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On Saturday, Iran's official news agency reported that a delegation from Boeing will visit the country.
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