Oil prices rose Tuesday, May 1, 2012 after growth in the U.S. and Chinese manufacturing sectors signaled more demand for energy products.

The improvement for the world's two largest economies offered some relief from persistent worries about the slowdown in Europe.

Benchmark crude rose $1.29 to finish at $106.16 per barrel in New York. That's the highest settlement price since it hit $106 on March 28. Brent crude increased 19 cents to $119.66 per barrel in London. Read more »

The major role played by the strategically developed Barnett shale in the U.S. natural oil and gas production is expected to provide a model for the development of other shale plays, according to a new report by GlobalData.

The new report states that the Barnett shale/Barnett shale combo has historically attracted substantial investments from oil and gas companies. High crude oil prices are anticipated to encourage oil and gas companies to explore and develop Barnett shale combo projects in the future. Read more »

The Environmental Protection Agency aims to sharply reduce emissions from natural gas wells through new rules issued Wednesday April 18, 2012 that call for the use of "green completions" that capture pollutants rather than releasing them into the air.

The effort is the first by the federal government to set national air pollution standards for emissions related to hydraulic fracturing, the production technique pioneered in North Texas' Barnett Shale. Read more »

Oil prices dropped Wednesday April 17, 2012 after the government said U.S. supplies grew more than expected last week.

Benchmark West Texas Intermediate crude fell $1.42 to $102.78 per barrel in New York, while Brent crude lost $1.88 to $116.90 per barrel in London.

The Energy Information Administration reported that U.S. crude oil supplies grew by 3.9 million barrels last week. Analysts expected an increase of 400,000 barrels. The government's weekly report also said that U.S. oil demand dropped 2.7 percent, gasoline demand fell 2.8 percent, compared with a year ago. Read more »