WTI oil prices are pushing $108 per barrel and Brent prices are nearing $120 per barrel. Such prices are unsustainable, according to Credit Agricole.
The S&P 500 met tough overhead resistance on Monday as traders saw little reason to push up stock prices in the face of lingering geopolitical uncertainties that have weighed on equities recently.
Stocks were little changed after a higher open on Monday, with the S&P 500 facing levels where selling has clustered in recent sessions.
Having departed from Athens, Greece, the Libyan deputy foreign minister has arrived in the Turkish capitol of Ankara, in an effort to reach some kind of resolution to the bloody civil war that is ripping apart of the North African nation.
Stocks were set to open slightly higher on Monday, with the S&P 500 facing a level where selling has clustered in recent sessions.
At least two of Moammar Gaddafi’s sons are backing a plan to remove their father from power and enable a transition into a constitutional democracy in Libya under the stewardship of his son Seif al-Islam el-Qaddafi, according to a report in the New York Times.
Libya is reaching out to Greece in order to seek a resolution to the crisis that is dragging on and has already killed thousands of people.
Brent crude rose over $119 a barrel and U.S. crude hit a 2-1/2-year high on Monday at more than $108 as unrest in the Middle East and North Africa triggered concern that supplies could be dented while economic growth bolsters demand.
The Libyan rebels were trying over the weekend to put their act together and shore up support and confidence even as Gaddafi's forces solidified their advancements in recent days by unleashing vicious shell attack on Misrata.
Rebel forces in eastern Libya have received covert military training from US and Egyptian special forces, according to a report in Al Jazeera.
The city of Ajdabiya, located in the northeastern part of Libya, has been a key flashpoint in the 2011 Libyan uprising.
Leaders from five of the world's top emerging economies will discuss a coordinated stance on economic issues such as commodity price fluctuations, but the yuan's exchange rate is off the agenda, a senior Chinese diplomat said on Saturday.
The Free Software Foundation (FSF) has awarded the Tor Project for championing Internet by protecting Anonymity in an era of social media revolutions in Middle East and the North African country Libya.
The Libyan government adamantly rejected a ceasefire proposal from rebel groups in the eastern part of the war-torn country.
Oil prices rose on Friday in volatile trading, as stronger-than-expected U.S. jobs data reinforced economic growth expectations but also the possibility it might trigger a pull back from loose monetary policy and strengthen the dollar.
Libyan rebels have reportedly offered terms of a ceasefire if Moammar Gaddafi withdraws his soldiers from opposition-controlled cities and subsequently permits peaceful protests against the regime, according to a report in Al Jazeera.
General Motors Co U.S. sales in March came in below expectations on Friday as the automaker eased off the generous incentives it offered car buyers over the first two months of the year.
Oil prices cut back gains of over a dollar on Friday after stronger-than-expected U.S. jobs data indicated the improving economic recovery of the world's largest oil importer was firmly on track, boosting the dollar.
U.S. stocks advanced in early trade on Friday following better-than-expected monthly non-farm payrolls and unemployment data.
Oil prices rose on Friday, with Brent crude nearing $118, as investors anticipated U.S. payrolls data later in the session will confirm the improving economic outlook of the world's largest oil importer.
A coalition air strike in Libya has killed seven civilians, according to the BBC.
U.S. stocks ended mixed on Thursday as investors awaited Friday’s Bureau of Labor Statistics jobs report, while slightly weaker-than-expected economic reports on jobless claims and Chicago Purchasing Managers index weighed on the sentiment.
