Historically, gasoline has commanded a premium over diesel, but that changed in mid-to-late 2007, when diesel rose above gasoline. In 2007 and 2008, however, gasoline traded higher than diesel only 21.1 percent of the time. This deviation from historic norms raises an interesting question--what...

Saudi Arabia's state-owned oil company no longer uses West Texas Intermediate (WTI) crude oil as its pricing benchmark. Saudi Aramco, the third largest U.S. oil supplier, switched to the Argus Sour Crude Index (ASCI) in January.

British Petroleum's Macondo well blew out April 20 as the Deepwater Horizon platform sunk. By the time the well was capped on July 15, an estimated 4.9 million barrels of oil had flowed into the Gulf of Mexico. The U.S. government and BP are still assembling a definitive estimate of the flow;...