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.
Brent crude dropped by more than $2 on Monday to around $106 a barrel on the potential for a resumption of exports from OPEC member Libya as a six-month civil war there appeared close to an end.
Toronto-listed miner Rusoro appeared unfazed on Thursday by President Hugo Chavez's move to nationalize Venezuela's gold industry, saying it believed the decision only targeted illegal miners.
Fears of U.S. slowdown dampen demand expectations.
Oil prices saw a major sell-off in early August, an event that foretold the North American stock market crash today.
South America has a right to beef up its armed forces but is not in an arms race, Brazil's defense minister said on Monday
Oil is likely to remain weak in the short term due to the sluggish global economy, while gold reaches new peaks on its increasing safe haven appeal and an expected further easing of U.S. monetary policy, a London-based fund manager said.
Crude oil historically trades at about 8 times the price of natural gas. Currently, it's trading at about 20 times natural gas. Is oil overpriced, natural gas underpriced, or is it a combination?
Brent crude rose $3 on Wednesday after the U.S. Federal Reserve's promise to extend near-zero interest rates for two more years weighed on the dollar and helped reverse a steep slump in oil.
Global oil demand will grow less than previously projected this year, according to forecasts on Tuesday from the U.S. and OPEC, as a worsening economic outlook will curb consumption in developed countries.
Brent crude rose $2 on Wednesday after the Federal Reserve's promise to extend near-zero interest rates for two more years weighed on the dollar and helped reverse a steep slump in oil.
OPEC, source of more than a third of the world's oil, cut its forecast for global oil demand growth this year as a worsening economic outlook curbs consumption in developed economies.
In the states, oil has been the stuff of riches and the glamour energy form. The reality is, however, in the 21st century the preferred and superior U.S. energy form could very well be domestic natural gas.
Several major auto makers on Friday embraced the Obama administration's proposal to push the industry further away from once-dominant gas guzzlers to more lean and efficient vehicles.
The top after-market NASDAQ Stock Market gainers are: Radiant Systems, Clean Energy Fuels, Idenix Pharmaceuticals, Micromet, and Nasdaq OMX Group. The top after-market NASDAQ Stock Market losers are: Microchip Technology, Novellus Systems, China Gerui Advanced Materials Group, KLA-Tencor, and Intersil.
Americans, it’s been said, are a resilient, can-do bunch. Well, it looks like U.S. motorists will have to become even more resilient, as the days of $2-something per gallon gasoline appear to be gone.
The creation of a new Iraqi National Oil Company to run the OPEC member's energy sector is not essential and might confuse the work of the oil ministry, Iraq's oil minister said on Sunday.
