In another push to deal with soaring gas prices, President Bush will lift an executive ban on offshore drilling that has stood since his father was president.
Rising hostilities between the West and Iran and the potential for attacks on Nigerian oil facilities gave investors reason to rush back into the energy markets.
Manufacturer says it will acquire Hercules in a $3.3 billion merger that would create a global specialty chemicals company.
Prices rebounded sharply from their recent tumble of nearly $10 a barrel, amid worries among traders that escalating political tensions in the Middle East could cut off supplies from the region.
Switzerland-based specialty chemicals maker acquired two U.S. manufacturers of liquid and solid masterbatches technology.
World's largest producer of palm oil plans to force manufacturers to use biofuels for some of their energy needs to reduce dependence on imported oil amid soaring global prices.
Company will buy rival chemicals maker Rohm and Haas for more than $15 billion in a deal the chemical giant said was a lynchpin for growth.
Price for a barrel of oil fell nearly $5 Tuesday, a two-day swing of more than $8 as traders took profits and fears of a supply disruption eased.
Texas oilman T. Boone Pickens opened an advertising campaign Tuesday in an attempt to bring more emphasis to solving the nation's energy crisis.
Germany's BASF revised its growth outlook for chemicals to 2.4 percent from 2.8 percent blaming the strong euro and rising oil costs.
Chakib Khelil says the world's surging oil prices are not likely to fall and blames the rise on the weak U.S. dollar, the currency that oil is sold in.
Company said Monday it is raising prices of nonylphenol, a chemical used in cleaning products, by 14 cents per pound.
Expectations that the European Central Bank will raise interest rates later Thursday could further weaken the U.S. dollar and drive oil prices even higher.
Gov. Joe Manchin has urged the West Virginia Supreme Court to clarify whether DuPont has a right to have an appeal heard on $196.2 million in punitive damages.
Crude oil prices headed for a record close as news of a bigger-than-expected drop in U.S. crude stockpiles and the threat of conflict with Iran weighed on traders' minds.
Conglomerate said Wednesday it bought Australian chemical maker K&H Surface Technologies for an undisclosed sum.
Chemical producer said Wednesday it has extended the term of its deal to be acquired by Hexion Specialty Chemicals and has filed counterclaims against the company.
Chemical producer Huntsman said Tuesday the European Commission approved its purchase by Hexion Specialty Chemicals, an affiliate of Apollo Management LP.
Supply concerns, a weak dollar and a fragile global economy continue to drive the price of oil to new highs, as well as continued tensions in the Middle East.
Like a plague that does not discriminate by economic class, race or age, soaring fuel prices are inflicting pain throughout the U.S., with nine in 10 expecting ballooning costs to squeeze them financially.
Chemical maker said Monday it hired HSBC Securities to explore strategic alternatives for its nylon business, including a possible sale.
World interest will be focused on what the more than 20 energy ministers from OPEC and elsewhere will have to say about how to quench raging market volatility.
Crude oil prices will likely rise to between $150 and $170 a barrel this summer, but probably not reach $200 a barrel, OPEC President Chakib Khelil was quoted as saying.
Prices are soaring further into record territory, breaking past $140 a barrel after OPEC's president said prices could rise well above $150.