The EIA's recent short-term outlook for oil prices forecast a slide in oil prices potentially leading to lower rig counts and more job losses.

The hype surrounding the historic summit Friday between U.S. President Donald Trump and Russian President Vladimir Putin makes clear that Russia — even under global sanctions — remains a powerhouse in the energy market.

Oil (CL=F, BZ=F) prices are in focus as President Trump is set to meet with Russian President Vladimir Putin on Friday. The Energy Word founder Daniel Dicker joins Market Catalysts with Julie Hyman to discuss what he expects from the meeting and how oil supply could be impacted.

Texas oilman Solomon Brachman, a founding member of the Fort Worth Petroleum Club, entered the oil business in an unlikely place — Marietta, Ohio, a county seat near the confluence of Ohio, West Virginia and Pennsylvania. In that tri-state region, drillers at the turn of the 20th century produced several hundred barrels of shallow oil a day.

The oil leak began after about 30 trains cars derailed from a CKPC train, the company formerly known as Canadian Pacific Railroad.

Venezuelan President Nicolás Maduro has intensified rhetoric over a territorial claim to the Essequibo, which makes up more than 60% of Guyana's territory

The Modi government will hope that Washington and Moscow will arrive at a final agreement on how to deal with Ukraine and Trump will discard the 25 per cent additional tariff. At the minimum, Delhi would want Trump to postpone the deadline of August 27 for implementing the additional tariffs against India.

Faced with a looming fuel crunch, some worry the state will push aside its efforts to combat climate change to keep gasoline flowing.