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Oil falls on profit taking, market eyes Libya plan

Oil prices retreated from near 2-1/2 year highs on Thursday as traders took profits after Venezuela pitched a plan to resolve the Libyan crisis, despite deep skepticism about whether it would work.

World Market Overview 04/03/2011

U.S. stocks rallied on Thursday as stronger than expected initial jobless claims data and an easing of oil prices after reports of a possible peace deal in Libya buoyed sentiment.

Data points to strengthening growth, jobs

Oil reserves give price safety valve: Geithner

Rich nations could tap strategic oil reserves if needed to ward off the risk that Middle East political unrest triggers an inflationary price spiral, Treasury Secretary Timothy Geithner said on Thursday.

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Silhouetted workers walk in front of office towers in the Canary Wharf financial district in London

Data points to strengthening growth, jobs market

The number of Americans filing new claims for jobless aid hit the lowest level in more than 2-1/2 years last week and service sector hiring picked up in February, signs the labor market recovery was quickening. Another report on Thursday confirmed business productivity picked up a bit in the fourth quarter

Wall Street rallies on falling oil, economic data

Stocks were up solidly on Thursday as investors were convinced the latest batch of economic data and falling oil prices could be strong catalysts to move the market higher.

Wall St rallies on falling oil, economic data

U.S. stocks were up solidly on Thursday as investors were convinced the latest batch of economic data and falling oil prices could be strong catalysts to move the market higher.

Oil falls as market eyes Libya plan

Oil prices retreated from near 2-1/2 year highs on Thursday as traders took profits after Venezuela pitched a plan to resolve the Libyan crisis, despite deep skepticism about whether it would work.

S.Africa's rand relinquishes some gains, stocks up

South Africa's rand retreated against the dollar on Thursday after jumping nearly two percent the previous day, while market anticipation of increased supply weighed on government bonds.

Gaddafi bombs oil areas, faces crimes probe

Muammar Gaddafi struck at rebel control of a key Libyan coastal road for a second day on Thursday but received a warning he would be held to account at The Hague for suspected crimes by his security forces.

Traders work on the floor of the New York Stock Exchange

US stocks rally after upbeat jobs data

U.S. stocks rallied in early trade on Thursday as stronger than expected initial jobless claims data and an easing of oil prices after reports of a possible peace deal in Libya buoyed sentiment.

Libya's leader Muammar Gaddafi (L) greets Venezuela's President Hugo Chavez after their meeting in Tripoli October 22, 2010.

Gaddafi Accepts Chavez Talks Offer; Opposition Rejects

Libyan leader Muammar Gaddafi has reportedly accepted an offer of mediation from Venezuelan President Hugo Chavez while an opposition group has rejected it, according to a report.

Gold & Silver Bullion Knocked Hard by Trichet'sVigilant ECB Rate-Hike Threat

Gold and Silver Bullion prices fell sharply London lunchtime on Thursday, bouncing 1.5% and 2.3% below this week's record Dollar highs after European Central Bank president Jean-Claude Trichet said a Eurozone rate rise is possible next month.

Russia to lose $4-bln arms deal due to Libya turmoil

The ongoing violence in Libya will cost Russia a $4-billion payday from an arms deal it had earlier agreed to with Moammar Gaddafi, according to the Interfax news agency, quoting Sergei Chemezov, head of the state holding company that controls arms exports.

US stocks rise as jobless claims dip

U.S. stocks advanced in early trade on Thursday after official data showed that applications for jobless benefits in the U.S. fell unexpectedly last week to reach the lowest level since May 2008, indicating an improving labor market.

Three Dutch marines captured by Gaddafi forces

The Dutch Defense Ministry announced that three of its marines have been captured in Libya by troops loyal to Moammar Gaddafi, while participating in an operation to help evacuate foreigners out of the country.

Wall Street rises 1 percent on jobless data, oil drop

Stocks rallied more than 1 percent in early trading on Thursday as crude oil prices fell and jobless claims dropped to a 2-1/2 year low.

Chairman of the Joint Chiefs of Staff Admiral Mike Mullen (L) and Defense Secretary Robert Gates (R) testify during a hearing of the House Appropriations Defense Subcommittee on the budget for the Defense Department on Capitol Hill in Washington March 2,

No-Fly Zone Means Big Attacks on Libyan Defenses First

Establishing a no-fly zone over Libya would require widespread bombings to destroy Libyan air defenses first, a top U.S. defense official said on Wednesday.

A rebel holds a gun on the outskirts of Ajdabiya, on the road leading to Brega

Libyan oil production cut in half: minister

Oil production in Libya has been cut in half due to nationwide civil unrest, according to Shukri Ghanem, chairman of the National Oil Corp.

Libyan leader Gaddafi gestures next to Italian Foreign Minister Frattini at the Ciampino airport in Rome

Gaddafi to be investigated for war crimes: ICC

The chief prosecutor of the International Criminal Court (ICC), Luis Moreno-Ocampo, said he will investigate alleged war crimes committed by Libyan strongman Moammar Gaddafi, his sons and his top associates in government during the ongoing unrest in the country.