Oil rose in New York, extending the biggest gain in six weeks, amid concern OPEC may reduce output in response to the International Energy Agency’s move to release oil stockpiles.

Futures advanced as much as 1.5 percent after rallying 2.5 percent yesterday. The IEA’s plan to release strategic reserves sparked speculation that the Organization of Petroleum Exporting Countries may limit output. A U.S. report today may show crude stockpiles fell more than forecast last week, and Greece’s parliament will vote on a plan to cut spending and sell assets. Read more »

West Kirkland Mining Inc. and Rubicon Minerals Corporation have entered into an agreement whereby West Kirkland can earn a majority stake in mineral rights held by Rubicon covering approximately 351 square miles (909 sq. kilometers) in the Long Canyon Trend of north eastern Nevada, while allowing Rubicon to retain a significant interest in any future discovery. Read more »

Oil climbed above $99 per barrel Tuesday June 28, 2011 following a better-than-expected retail sales report, a decline in the dollar and a broad rally on Wall Street.

The government reported that retail sales slipped 0.2 percent last month, the first decline in nearly a year. Lower cars sales brought down the reading. The report still beat analysts' expectations. Excluding car sales, retail sales rose 0.3 percent. The Labor Department also added some upbeat news, saying that food costs were falling. Read more »

The Marcellus shale formation is estimated to hold roughly 500 trillion recoverable cubic feet of natural gas. And industry leaders expect you might be surprised at just how far that amount of natural gas can go.

For some perspective, consider that the United States now consumes about 63 billion cubic feet of natural gas each day, according to the U.S. Energy Information Administration. That means the Marcellus find alone could equate to a 20-plus year supply of U.S. natural gas consumption. Read more »