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Mexico's opposition party proposes sweeping energy reform

MEXICO CITY (Reuters) - Mexico's opposition conservative party proposed sweeping energy reform on Wednesday to change the constitution to allow more private investment and promote competition, while the ruling party is expected to present its own plans for an overhaul next week. Full story

Oil has biggest gain in 3 weeks on Fed, US economy

The price of oil rose the most in three weeks amid signs that the U.S. economy is improving, but not fast enough for the Federal Reserve to reduce its monthly bond-buying program. Full story

Gold, most other metals end lower; copper rises

Gold and most other metals fell Wednesday, with the exception of copper. Energy prices rose. Full story

Halliburton enters plea to BP spill-related charge

Halliburton Energy Services has been arraigned on a charge that the Houston-based company destroyed evidence following BP's 2010 oil spill in the Gulf of Mexico. Full story

Hess earnings rise on asset sales, higher prices

Oil exploration company Hess Corp. reported second-quarter net income more than doubled it sold its Russian subsidiary and got a lift from strong oil and gas selling prices even though production declined. Full story

Iran grants Syria $3.6 billion credit to buy oil products

AMMAN (Reuters) - Syria and Iran signed a deal this week to activate a $3.6 billion credit facility to buy oil products to shore up President Bashar al-Assad's war battered economy, officials and bankers said on Wednesday. Full story

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Blowout could tip regulator focus to shallow-water

Phillips 66 2Q profit falls 19 percent

World Fuel doubts Quebec rail-crash payment order is legal

Metals and energy futures close lower

Security headaches dampen investor enthusiasm in Libya

Occidental Petroleum 2Q profit flat, revenue up

National Oilwell 2Q net income slips 12 percent

BP braced for legal long-haul as spill payouts leap

BP scraps sale of U.S. wind farm business

EXCLUSIVE-Petronas to delay $19 billion petrochemicals project to 2018

Video

  Prince al Waleed bashes Saudi energy policy

Saudi Prince al Waleed published a letter saying a policy change was needed to address the rise in U.S. oil shale production. John Hofmeister, Former Shell Oil president, and John Kilduff, Again Capital, discuss.

  Another decline in crude supplies

CNBC's Sharon Epperson reports crude supplies are down another 2.83 million barrels this week, while gas supplies fell by 1.39 million barrels. As a result, gas is on the rise again.

  Oil on the rise

J. David Anderson, oil services & equipment analyst, JPMorgan, says in the near term, a good U.S. economy means a pick up in demand and, as a result, higher oil prices. Natural gas, he says, will probably stay at its current levels.

  Futures Now: Oil hits 16-month high

The Futures Now team discusses crude's incredible run and what is behind the rally.

  The heat is on around the country

Michael Levee, author of “The Power Surge,” talks to the hosts of The Cycle about how we can change America’s energy future, while we battle one of the worst heat waves the country has seen.

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People kite surf near one of four islands oil drilling islands operated by THUMS Long Beach Company, which is owned by Occidental Petroleum Corporation, in Long Beach, California
People kite surf near one of four islands oil drilling islands operated by THUMS Long Beach Company, which is owned by Occidental Petroleum Corporation, in Long Beach, California

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Oil rig pumpjacks extract crude from the Wilmington Field oil deposits area where Tidelands Oil Production Company, which is owned by Occidental Petroleum Corporation, operates near Long Beach, California
Oil rig pumpjacks extract crude from the Wilmington Field oil deposits area where Tidelands Oil Production Company, which is owned by Occidental Petroleum Corporation, operates near Long Beach, California

Oil rig pumpjacks, also known as thirsty birds, extract crude from the Wilmington Field oil deposits area where Tidelands Oil Production Company, which is owned by Occidental Petroleum Corporation , operates near Long Beach, California July 30, 2013. Occidental Petroleum posted a smaller-than-expect

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A crab covered in oil slick is seen at Ao Prao Beach in Koh Samet

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A Thai soldier in white biohazard suit takes part in a clean-up operation at Ao Prao Beach on Koh Samet
A Thai soldier in white biohazard suit takes part in a clean-up operation at Ao Prao Beach on Koh Samet

A Thai soldier in white biohazard suit takes part in a clean-up operation at Ao Prao Beach on Koh Samet, Rayong July 30, 2013. Crude oil that leaked from a pipeline in the Gulf of Thailand over the weekend has reached a Thai tourist resort, pipeline operator PTT Global Chemical Pcl said on Monday. A