OPEC

Oil prices fell more than $2 per barrel on Tuesday as the outlook for global growth darkened with renewed crisis in the euro zone and data suggesting economic activity in key economies was slowing more quickly than expected.

The death of Moammar Gadhafi has definitely clarified one piece of the jigsaw puzzle that is the global oil market: There is now one fewer issue to hinder production security in a host of oil hot spots.

The events in Libya probably will not lead to a drop in crude prices as measured by West Texas Intermediate metric, analysts say.

Saudi Arabia's central bank is not interested in buying distressed or speculative assets such as troubled European debt and gold, and the OPEC member's banks are well-positioned to withstand the Eurozone crisis.

President Barack Obama warned Iran on Thursday it would face the toughest possible sanctions for an alleged plot to kill the Saudi ambassador in Washington, as Treasury officials eyed action against the Iranian central bank.

A rebound in Hong Kong and Shanghai shares helped lift most Asian stocks into positive territory Wednesday, but concerns that Europe's debt crisis has hurt confidence in the global economy and is weighing on corporate earnings limited gains.

Libya's top oil body is pursuing international oil firms for bills worth around $6 billion that were left unpaid this year due to U.N. sanctions imposed in March, a source in the National Oil Corporation (NOC) told Reuters this week.

Libya will likely name a new government within 10 days, interim Prime Minister Mahmoud Jibril said, raising hopes of political progress in the fractured country weeks after the overthrow of Muammar Gaddafi.

President Hugo Chavez's government formalized the nationalization of Venezuela's gold industry on Monday with a decree that prohibits exports of the metal and gives the state 55 percent of joint ventures.

The energy-thirsty United States is on the hunt for a game-changing energy source or energy usage technology -- and batteries and fuel cells are strong candidates. But their mass use could be 20 years away. Meanwhile, a conventional source may bridge that gap, or provide even more upside: natural gas.

Libya's interim government is drafting a proposal that would shrink the responsibilities of the National Oil Corp (NOC) to make it a purely commercial organisation, a member of the interim government has told Reuters.

The energy-thirsty United States is on the hunt for a game-changing energy source or energy usage technology -- and batteries and fuel cells are strong candidates. But their mass use could be 20 years away. Meanwhile, a conventional source may bridge that gap, or provide even more upside: natural gas.

Brent crude rose toward $109 on Tuesday as fighting in Libya continued and in anticipation of a fall in U.S. crude stockpiles.

Brent crude neared $109 Tuesday as fighting in Libya continued and in anticipation of a fall in U.S. crude stockpiles.

Brent crude edged lower on Monday in choppy trading as investors hoped the process to restart oil exports from OPEC member Libya would begin soon as the country's six-month-old civil war neared an end.

There is no immediate prospect of removing Libya from a list of areas deemed high risk by London's marine insurance market, and underwriters will seek a stable period in the country before looking at a de-listing, a market official said on Monday.

Brent crude fell more than 1 percent on Monday as investors anticipated a resumption of oil exports from the OPEC-member Libya, where rebels moved to control most of Tripoli and an end to the 6-month-old civil war seemed close.

Italian oil company Eni led the charge back into Libya on Monday as rebels swept into capital Tripoli, hailing the end of Muammar Gaddafi's rule and warning Russian and Chinese firms of contract revisions.

Brent crude fell almost $2 on Monday toward $106 a barrel with traders and investors anticipating the resumption of oil exports from OPEC-member Libya as a six-month civil war there appeared close to an end.

Brent crude dropped more than $3 on Monday to below $106 a barrel, while U.S. oil fell more than a dollar to below $82, on the potential for a resumption of exports from OPEC-member Libya as a six-month civil war there appeared close to an end.

Brent crude dropped more than $3 on Monday to below $106 a barrel, while U.S. oil fell more than a dollar to below $82, on the potential for a resumption of exports from OPEC-member Libya as a six-month civil war there appeared close to an end.