Libyan air forces have launched attacks on the eastern oil city of Brega in an effort to retake the port city from the rebels, according to media reports.
Futures on major U.S. indices point to a higher opening on Thursday ahead of economic data including key weekly jobless claims and non-farm productivity.
Futures on major U.S. indices point to a higher opening on Thursday ahead of economic data including key weekly jobless claims and non-farm productivity.
Most Asian stock markets ended higher on Thursday, helped by upbeat U.S. jobs data and an easing of oil prices after reports of a possible peace deal in Libya.
U.S. stock index futures pointed to a higher open on Wall Street on Thursday, with futures for the S&P 500 up 0.7 percent, Dow Jones futures up 0.6 percent and Nasdaq 100 futures up 0.7 percent at 5.23 a.m. EST.
A proposal by Venezuela President Hugo Chavez to try to broker a peace deal in Libya briefly pushed oil lower on Thursday, while recently risk-averse stock markets put in some gains.
U.S. stocks ended with modest gains on Wednesday after ADP National Employment report showed that the private sector employment rose more than expected in February, but shares came off their highs due to fears over the continued unrest in Libya and rising crude oil prices.
Oil prices dropped on Thursday as the Arab League said a peace plan for Libya put forward by Venezuela's Hugo Chavez was under consideration, while upbeat U.S. economic news helped lift Asian stock markets.
The International Air Transport Association (IATA) slashed its forecast for airline industry profits in 2011, citing the recent surge in oil and jet kerosene prices. The association warned of substantial deterioration in profits if rising energy costs significantly weakens economic growth.
Crude oil prices held near 2-1/2 year peaks on Thursday as worries about supply disruption persisted given ongoing unrest in Libya, but upbeat U.S. economic news and a firmer Wall Street helped Asian stocks find a steadier footing.
Hong Kong stocks are set to rise slightly on Thursday as investors seek bargains amongst Chinese shares listed locally as mainland markets look poised to continue their outperformance relative to the region.
U.S. stocks edged up higher on some positive jobs data and reassurance from the Federal Reserve that the economy is recovering. However, any equity gains were capped by fears over the continued unrest in Libya and rising crude oil prices.
Britain, France and Tunisia have started airlift thousands of Egyptians stuck at the Libya-Tunisia border to safety in Cairo, in response to pleas from the United Nations (UN) to prevent a humanitarian crisis.
U.S. stocks eked out gains on Wednesday despite another rise in oil prices, as investors bet the latest signs of economic strength may be able to absorb expected higher energy costs.
U.S. stocks edged up higher on some positive jobs data and reassurance from the Federal Reserve that the economy is recovering.
Libya’s embattled leader Moammar Gaddafi has offered amnesty and some other concessions to anti-government rebels who turn in their weapons.
Gold touched a record high above $1,440 an ounce on Wednesday, as a bullish confluence of political unrest in Libya, surging oil prices and easy monetary policies spurred safe haven buying.
Prices for Dollar investors to Buy Gold crept higher to reach a new all-time record Wednesday lunchtime in London, as crude oil rose further above $100 per barrel and world stock markets fell for the eighth time in nine sessions.
The United Nations (UN) has warned that up to100,000 African migrants may seek to escape strife-torn Libya and cross into poverty-stricken Niger in the next few weeks, fearing they may be killed by anti-Gaddafi Libyans who believe they are mercenaries.
Exile for Libyan Leader Muammar Gaddafi is an option, according to U.S. Officials. While no world leaders have publicly offered asylum weeks into a crisis threatening to become civil war, the leaders of Venezuela and Nicaragua have shown support for Gaddafi in recent days.
Socks rose on Wednesday after employers added more jobs than expected last month, but shares came off their highs as oil prices surged in a correlation expected to define trading in the near term.
Oil prices jumped to near 2-1/2 year highs on Wednesday after an airstrike near Libya's oil infrastructure kept the market braced for a prolonged disruption from the OPEC nation and worried unrest might spread to other regional producers.
