Last year was a record year for the Texas oil and natural gas industry, which broke its previous records for production, ...

The Odessa American is the leading source of local news, information, entertainment and sports for the Permian Basin.

The crude oil market has launched higher on Friday as the jobs number in the United States shows just how hot the US economy is running. At this point in time, the markets are pulling back a little ...

Oil rose to $80 per barrel, the highest level since October, as the US announced new sanctions against Russia.

Why is Houston, Texas called the energy capital of the world? The oil industry started partly because of oil gushing at Spindletop in Beaumont 124 years ago.

Crude oil futures rose about $2 around midday Friday as the possibility of more U.S. sanctions against Russian petroleum products triggered global supply worries. Diesel contracts also jumped as below ...

Oil prices surged on Friday and were on track for a third straight week of gains as traders focused on potential supply ...

Brent crude futures gained $2.23 to $79.15 a barrel by 1130 GMT, while U.S. West Texas Intermediate crude futures advanced $2 ...

Oil prices rose more than 1% on Thursday as cold weather gripped parts of the U.S. and Europe, boosting winter fuel demand.

Oil futures rose sharply Friday, trading at their highest since October with support tied to cold weather in the U.S. and supply concerns.

Oil prices surged on Friday and were on track for a third straight week of gains as traders focused on potential supply ...