Energy Information Administration

The gap between US oil and European Brent crude grew to its largest in almost four months on Tuesday as seasonal maintenance in the US along with pipeline outages cut down on crude demand and caused an increase in stockpiles. Recent data showed that crude stockpiles in Cushing, Oklahoma were on...

Brent crude oil climbed back above $109 as some began to doubt that the relationship between the West and Iran has the potential to improve. The commodity traded at $109.14 at 7:00 GMT on Wednesday morning. Tension between the West and Iran has long supported oil prices as Iran moved forward with...

Brent crude oil dipped lower on Thursday as the UN moved forward on a diplomatic solution to the crisis in Syria. The commodity traded at $111.61 at 7:30 GMT on Thursday morning. With the US working together with international leaders to fine tune a non-violent resolution to the situation in Syria...

As military action began to look less and less likely, Brent crude oil withdrew from its previous highs. The commodity traded at $114.57 at 6:45 GMT on Friday morning. Britain announced that it would not join the US' efforts to punish Syrian President Bashar al-Assad for his involvement in a...

Brent crude oil climbed toward $107 on Friday as tightening supply and an improving global demand outlook all lent strength to prices. The commodity traded at $106.74 at 9:11 GMT on Friday morning after promising data from China boosted confidence that the number two oil consuming nation was...

Brent crude oil traded steadily below $107 on Wednesday morning as markets anxiously awaited the outcome of the US Federal Reserve's two day policy meeting. The commodity traded at $106.85 as supply disruptions and concerns about waning global demand played at odds. Crude supply outages in Iraq,...

Brent crude oil weakened on Thursday morning after poor economic data caused many to revise their outlook for global demand. The commodity traded at $106.87 at 7:26 GMT as gains from a reduction in US oil stocks failed to prop Brent prices up. A disappointing purchasing managers' survey from China...

Brent crude oil rose to a near three month high on Thursday after the dollar slid on Federal Reserve Chairman Ben Bernanke's comments. The commodity traded at $108.43 at 5:07 GMT on Thursday morning. Since the Fed announced in June that it was planning to taper its asset buying plan as the US...

Despite ongoing tension in the Middle East, Brent crude oil prices fell on Tuesday after concern about the future of the U.S. economy proved to be the biggest factor weighing on investors' minds. The commodity traded at $110.20 on Wednesday, recovering slightly after losses from the previous day....

The Energy Information Administration (EIA) announced on Wednesday that it had cut its projection for global oil demand for 2011. The EIA, which is the statistics segment of the US Energy Department, cited lower projections for global economic growth as the reason for the downward revision in its...