Oil

As winter approaches and the price of crude continues to be unpredictable, millions of Americans are wondering if they should commit on their home heating oil at today's price with a pre-buy contract. Bob Moon reports.

Gas prices may be lower than they were this time last year, but they're still relatively high. But if oil producers increased production, and caused oil prices to fall, it would have bad longer-term consequences. Ashley Milne-Tyte reports.

The United Nations has given Iranian President Mahmoud Ahmadinejad until the end of the month to stop enriching uranium. The country's gas imports may be at stake if he doesn't comply. Stephen Beard reports.

British energy company BP has made a giant discovery of oil in the Gulf of Mexico. But it's so deep it could be a decade before we see any oil. Bob Moon reports.

BP announced a giant discovery deep in the Gulf of Mexico. But determining the value of the oil will be tricky because it lies under more than 4,000 feet of water and another 35,000 feet under the ocean floor. Sam Eaton reports.

The government wants to boost the amount of ethanol in the U.S. gas supply. But will corn ethanol makers be able to meet the target? Adam Allington reports.

Natural gas prices have dipped to a seven-year low. That's bad for business, but what does it mean for consumers? Sam Eaton reports.

China has been busy making oil and gas acquisitions, but one deal in Iraq has landed the country's biggest refiner, Sinopec, in political hot water. Scott Tong reports.

The oil industry's campaign against climate legislation in Congress is heating up. The American Petroleum Institute lobbying group has put out a study of the climate bill's cost to U.S. refiners and, perhaps, consumers. Sam Eaton reports.

The U.S. June trade deficit rose 4% in June to $27 billion, and the cost of what we imported increased for the first time in almost a year. Alisa Roth explains why.