Oil prices fell to near $99 a barrel Wednesday November 30, 2011 in Asia after a report showed U.S. crude inventories rose more than expected, suggesting demand is tepid.

Benchmark crude for January delivery was down 65 cents to $99.14 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose $1.58 to settle at $99.79 on Tuesday.

In London, Brent crude was down 11 cents at $110.71 on the ICE futures exchange. Read more »

Oil futures prices rose to near $98 a barrel Tuesday November 22, 2011 as traders looked to the latest U.S. crude supply reports for signs demand may be improving.

Benchmark crude for January delivery was up $1.41 at $98.33 a barrel by early afternoon in Europe in electronic trading on the New York Mercantile Exchange. The contract fell 75 cents to settle at $96.92 in New York on Monday.

Brent crude for January delivery was up $1.34 at $108.22 a barrel on the ICE Futures Exchange in London. Read more »

As oil prices creep upward, lawmakers in Washington are staking out familiar and competing positions over how to address the rising price of energy.

The Energy Department itself remains tangled in the scandal over failed solar firm Solyndra. Amid signs that gas prices could soon hit an upswing, top Energy officials are distracted preparing for testimony before Congress and answering the House Energy and Commerce Committee's requests for documentation on its renewable energy loan program. 
  Read more »

Oil prices retreated on Monday November 14, 2011 after a short rally as traders reacted to a changing political landscape in Italy and tensions in the Middle East.

New York's main contract, light sweet crude for delivery in December, fell 65 cents to $98.34 a barrel after reaching a near four-month high of $99.69 earlier in the day.

Brent North Sea crude for December shed $1.10 to $113.06. Read more »