Crude oil is predominantly priced and traded in U.S. dollars, although Iran has already accepted payments in some other currencies.
European stock markets gained in early trade Wednesday ahead of second 3-year long-term refinancing operation (LTRO) by the European Central Bank.
India's economic growth slowed to its weakest annual pace in almost three years in the three months to December, as high interest rates and rising input costs constrained investment and manufacturing. GDP rose 6.1 percent in October to December compared with a year earlier, a lower-than-expected increase, figures from the statistics office showed.
Indian gold futures, which struck a two-month high last week, could extend gains to top 29,000 rupees, a level keenly watched by the market, due to higher crude oil prices and weakness in the dollar versus the euro, analysts said.
White House officials Monday welcomed TransCanada's plans to reapply for the Keystone XL pipeline and showed their support for the company's aims to build the southern portion of the controversial pipeline as a standalone project.
BP, Britain's No. 1 oil company is said to be negotiating a $14 billion settlement for the Deepwater Horizon explosion that killed 11 workers and fouled the Gulf of Mexico for months in 2010.
Gold prices fell 1 percent on Monday, in line with the euro, stocks and other commodities, as worries over the euro zone debt crisis and the impact of high crude oil prices on the fledgling economic recovery fuelled risk aversion.
The start of the liability trial for the BP 2010 Deepwater Horizon explosion that killed 11 workers and fouled the Gulf of Mexico for months, has been delayed for a week allowing more time for embattled BP and fellow defendants to broker a settlement with U.S. prosecutors.
The prices of gasoline and other energy commodities are on the rise -- with further increases just over the horizon -- and it appears that everyone is taking notice.
BP's 2010 Deepwater Horizon explosion that killed 11 and fouled the Gulf of Mexico for months is finally headed for court. On Monday, a federal judge in New Orleans is scheduled to gavel the case to order.
What can stop the progression toward $5 gas?
Gas prices have risen to above $4 per gallon in many parts of the country, but compared to other countries, it's actually a rather low figure.
The good news for U.S. drivers is that unless a world-wide catastrophic event, like war breaking out between Iran and Israel, takes place soon, the $5 figure will not be hit in the near future, according to AAA.
The price of gasoline in the U.S. is expected to hit $4.00 by summer, and could potentially spike even further. Much of this has to do to with events in other parts of the world.
Gas prices on average have gained 12 cents a gallon in just the last month, the AAA reports. At an average $3.51 a gallon, that's 38 cents above 2011. What's happening?
Chesapeake Energy Corp is seeking as much as $12 billion from assets sales and joint ventures to cope with a cash crunch amid rising debt and tumbling gas prices.
The average price for a gallon of gasoline in the United States rose nearly 12 cents in the past three weeks to about $3.51, due in part to higher prices for North Sea crude oil, according to the nationwide Lundberg Survey.
Gold edged up along with crude oil and the euro on expectations the Greek prime minister's presence in Brussels Thursday signals a likelihood his nation will receive desperately needed bailout money.
When Harper first took office in 2006, relations between Canada and China were cold,.
Brent crude rose above $112 on Friday as Supreme Leader Ayatollah Ali Khamenei warned that the Iran would retaliate over an oil embargo at the right time.
Gold prices climbed Friday, their 21st daily increase in the last 24 trading sessions, toward a two-month high as support from a weaker dollar offset falling crude oil prices.
Lawmakers are considering a bid to force President Barack Obama's administration to blacklist Iran's President Mahmoud Ahmadinejad and the country's supreme leader, Ayatollah Ali Khamenei, in an effort to thwart Tehran's nuclear capabilities, a congressional aide said on Wednesday.
