The Republican-led Congress gave final passage on Wednesday to a bill to approve the long-pending Keystone XL pipeline, a measure that next goes to President Barack Obama, who has vowed to veto it.
Energy
Oil markets steady as Japan emerges from recession
Oil prices steadied on Monday as Japan's economy emerged from recession and as strong demand for refined products translated into healthy orders for crude.
Managers bunk down at U.S. refineries as strike enters third week
U.S. oil refinery managers are going to the mats, literally, during the biggest fight with union workers in 35 years, bedding down for a third strike week that experts and some employees say raises concerns over safety and operations.
Oil tops $60 for first time in 2015, industry spending cuts support
Oil rose above $60 a barrel on Friday for the first time this year, bringing its gain this week to almost 4 percent, supported by signs that deeper industry spending cuts may curb excess supply.
Oil jumps on weak dollar, industry cuts in jobs, spending
Oil prices rallied sharply on Thursday after two days of losses as news of deeper industry spending cuts and a sinking U.S. dollar revived buying.
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Brent hovered near $55 a barrel on Thursday after data showed U.S. crude stockpiles set a record for the fifth week in a row, renewing fears that supply is still far outpacing demand.
Brent crude held steady above $56 a barrel on Wednesday, and U.S. crude rose briefly more than $1, after a smaller-than-expected rise in U.S. crude stocks was viewed by some as a sign that a supply glut was starting to abate.
Crude oil prices fell for the first time in four sessions on Tuesday after the International Energy Agency (IEA) warned that ample supplies will raise global inventories before investment cuts begin to significantly dent production.
The United States will remain the world's top source of oil supply growth up to 2020, even after the recent collapse in prices, the International Energy Agency said, defying expectations of a more dramatic slowdown in shale growth.
Oil jumped for a third straight session on Monday as OPEC forecast greater demand for crude this year than previously thought and projected less supply from countries outside the producer group.
Brent crude prices slipped on Monday as a slump in Chinese imports pointed to lower fuel demand in the world's biggest energy consumer, outweighing falling U.S. oil rig counts and signs of healthy U.S. growth.
The United Steelworkers union said on Saturday the strike by U.S. refinery workers is expanding to two more plants early on Sunday due to unfair labor practices by oil companies.
Oil’s dramatic price fall since mid-2014 cannot be explained by changes in production and consumption alone, with hedging and energy firms' high debt levels also playing a part, the Bank for International Settlements (BIS) said on Saturday.
The number of rigs drilling for oil in the United States fell by 83 this week to 1,140 - the lowest since December 2011 - a survey showed on Friday, a clear sign of the pressure that tumbling crude prices have put on oil producers.
