CRUDE OIL

Among other options being considered by senior officials in the UK government's National Security Council is the deployment of the Royal Navy in the Middle East.

Good news out of Iran on Tuesday helped add to crude oil's price decline, already spurred by economic woes plaguing Europe.

Comments regarding a rebound in the Chinese economy from the Organization for Economic Cooperation and Development lifted stocks earlier Tuesday and kept Asian and European bourses in the green. The comments came after Chinese Prime Minister Wen Jiabao said last weekend his government would focus more on growth than inflation.

Asian shares fell steeply Friday after more signs emerged of growing instability among Spanish banks and political turmoil in Greece, with the latest sluggish economic data from the United States adding to the list of risks for investors.

Commodities prices fell Wednesday as investors, preparing for the fallout from an expected Greek exit from the euro zone, abandoned industrial and precious metals for the safety of German and U.S. government debt.

Investors spent most of Tuesday tip-toeing back into risky assets before suddenly losing their nerve about two hours before the closing bell and retreating, for the second day in a row, to German bunds and U.S. Treasurys.

India imports crude oil from about 30 nations.

Political discord in Greece, voters punishing German Chancellor Angela Merkel's Christian Democrats, lower euro zone manufacturing output and China freeing up cash for lending all contributed to a global stocks slide as investors pursued the safe havens of government debt and the dollar.

The almighty dollar was the investment of choice Monday morning, as international investors - in a classic flight to safety after various major news breaks last week - piled into greenback-denominated cash and cash equivalents.

Concho Resources Inc. (NYSE: CXO) will buy all of the oil and natural gas assets of Three Rivers Operating Company LLC for $1 billion in cash, increasing Concho's production by 7,000 barrels of oil a day, the company announced Sunday.

Concho Resources Inc. (NYSE: CXO) has agreed to acquire all the crude-oil and natural-gas assets of the Three Rivers Operating Co. and certain affiliated entities for $1 billion in cash, Concho announced Sunday.

Pirates based on the coast of northern Somalia hijacked a Greek-owned oil tanker in the Arabian Sea with a crew of 15, mostly Indians and Filipinos.

China's announcement that construction was down and manufacturers bought less factory equipment in April drove oil prices down and caused concerns that the global economy was slowing down. These concerns were reflected in market activity.

The now-familiar call for Washington to lower energy costs by increasing domestic production of oil may not be the most effective policy, according to this month's Congressional Budget Office report on the nation's energy security.

The U.S. oil major is preparing to sell all of its assets in one of Africa's leading producers of crude oil -- Nigeria.

Post-election uncertainty in Greece pushed investors away from stocks and commodities, lowering German and U.S. bond yields and eroding the euro's value as investors sought the dollar. France's benchmark CAC 40 Index erased its Monday gains, which had confounded investors. The reality sank in a day late as euro zone uncertainties that popped up over the weekend took root. Greek stocks have lost 10 percent of their value so far this week.

U.S. gasoline is getting cheaper. In the last four weeks, the average weekly U.S. retail price of regular unleaded gas has fallen 4 percent, according to the Energy Information Administration.

U.S. and European stocks as well as commodities fell hard Tuesday on worries about the effect of a possible Greek departure from the euro zone.

India Tuesday conveyed to the US that it has to look at the Western sanctions on Iran beyond the issue of energy, as it has critical stakes in the region.

Gold fell for a second day on Tuesday, under pressure from the slide in the euro on the back of political uncertainty in Greece and a change of president in France, while Chinese import figures did little to offset the impact of the weaker currency.

Gold eased on Monday after elections results in France and Greece that reflected strong anti-austerity feeling raised concerns over the euro zone's ability to battle its debt crisis, knocking the euro to a three-month low against the dollar.