CRUDE OIL

European companies owed oil by Iran could lose out should Tehran impose a ban on crude exports to the European Union next week, the head of Iran's state oil company said Saturday. Iran's parliament is due to debate a bill Sunday that would cut off oil supplies to the EU in a matter of days.

The Arab League said on Saturday it had suspended its monitoring mission in Syria because of the critical deterioration of the situation as state security forces battled rebels holding three suburbs just outside Damascus.

Fighting sanctions with sanctions in a test of strength with the West over its nuclear ambitions, Iran warned on Friday it may halt oil exports to Europe next week in a move calculated to hurt ailing European economies.

ExxonMobil, the world's largest integrated oil and natural gas company, is expected to report an increase in revenue in its fourth quarter thanks to high oil prices which have helped the company overcome sluggish refining and low natural gas prices in the United States.

U.S. stocks fell on Friday after data showed the U.S. economy grew less than expected in the fourth quarter, while weak earnings from Ford and continued caution over Europe's debt crisis also weighed on the market.

Shares of energy giant Chevron Corp. tumbled Friday after losses from refining operations cut fourth-quarter profit to less than analysts expected.

U.S. stocks were headed for a lower open on Friday after data showed the U.S. economy grew less than expected in the fourth quarter, while weak earnings from Ford and Procter & Gamble and concerns over Europe's debt crisis could also weigh on the market.

Gold prices leveled off Friday, consolidating the week's dramatic gains, amid prospects for more increases next week and next month.

World stocks fell from a 5-1/2 month high on Friday as gains spurred by the Federal Reserve's pledge of low interest rates gave way to concerns about Portugal, seen as the next domino in the Eurozone crisis, and uncertainty over Greek debt talks.

U.S. stocks sagged on Thursday as traders cashed in on red-hot bank and technology shares, while the Federal Reserve's commitment to easy money to help the U.S. economy rebound weakened the dollar.

Ahmadinejad is the highest Iranian government official thus far to offer to re-start the talks.

Gold prices jumped Thursday after the Federal Reserve surprised markets by saying ultra-low interest rates will continue through 2014.

China Thursday criticized the European Union for banning oil imports from Iran, Beijing's third biggest crude supplier and a major trading partner.

Chevron, the second largest integrated U.S. oil company, is expected to report stronger fourth-quarter earnings on dramatically higher crude oil prices and production that offset breakeven margins on refining and marketing operations as well as reduced output of products like gasoline.

Brent crude slipped below $110 on Wednesday as recession fears, partly rekindled by stalled Greek debt talks, weighed on the outlook for demand, while threats by Iran to respond to European sanctions by shutting a vital trade route supported prices.

Gold fell on Tuesday as a lower euro, due to an impasse to restructure Greek debt, and weakness in crude oil and equities prompted investors to take profits.

ConocoPhillips, the third largest energy company in the U.S., is expected to post higher fourth-quarter earnings as soaring crude oil prices offset big losses anticipated in the company's refining operations.

A boom in shale oil production will raise U.S. domestic crude output by a fifth over the next decade, helping to slash the country's dependence on foreign oil imports, the U.S. Energy Information Administration said Monday.

Gold rose 1 percent on Monday to a six-week high, boosted by technical buying and as the euro rallied ahead of the outcome of a euro zone meeting on Greek debt restructuring.

Iran will definitely close the Strait of Hormuz, the vital oil-transport waterway between the Persian Gulf and the Gulf of Oman, if the embargos put into place by the European Union disrupt the export of crude oil

Here are the five things you need to know about the pipeline, and why it faces such vehement opposition.