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All Eyes Remain on Oil Prices March 07, 2011 Last week's heavy stream of economic news was largely encouraging, and yet stocks barely eked out gains after oil prices spiked to levels not seen in more than two-and-a-half years. With a relatively light slate of economic data scheduled this week, oil prices and political instability could play an even larger role in the trading sessions a ...	Oil falls as Saudi Arabia reassures more output March 01, 2011 Crude prices fell on Monday as Saudi Arabia reassured the extra oil needs caused by unrest in Libya had been made up with more output. For the whole February, U.S. oil price was up 6.5 percent, having risen sharply as the unrest in Libya caused supply disruption and spurred fears that tensions could spread to other oil p ...	Higher oil prices threaten to become the new norm March 01, 2011 Ongoing turmoil in the Middle East and North Africa threatens to bring about an extended period of heightened oil prices, turning the recent spike in energy costs into the norm rather than the exception, a U.S. expert told VOL. in an interview. "Could we expect to see oil remain in the range of 100 to 150 U.S. dollar per ...
IEA Governing Board Statement on Libya February 25, 2011 In its regular quarterly meeting, the IEA Governing Board discussed developments on the world oil market. Based on industry reports, it appears that between 500,000-750,000 barrels per day of crude oil, or less than 1% of global daily consumption, have been removed at present from the market. The IEA and its member countries continue to closely ...	Oil falls on U.S. high inventories February 25, 2011 Crude oil price on Thursday fell after hitting 103 dollars a barrel, as U.S. crude inventories rose for the sixth straight week and Saudi Arabia was reported to be considering an output boost, thus easing the concerns about supply disruption in the Middle East. U.S. crude and Brent crude jumped earlier as the unrest in Libya ...	U.S. stocks mixed amid concerns over high oil prices February 25, 2011 The U.S. stocks ended mixed on Thursday as oil prices eased after breaking the important psychological level of 100 dollars a barrel. Stocks have been under severe pressure this week as investor feared the unrest in Libya would spread to more countries in the region, especially to those oil-rich countries like Iran and Alger ...
U.S. has interest in buying Brazilian oil February 25, 2011 Brazilian Foreign Minister Antonio Patriota said Thursday that the United States is interested in purchasing Brazilian oil. Patriota said that the matter was mentioned when he met U.S. officials in Washington D.C. "The U.S. eyes on Brazil's energy potential. It was speculated that Brazil could become an ...	Australia's AGL to increase marketing spend in New South Wales February 23, 2011 AGL Energy Ltd, the Australian natural gas and electricity company, said it would increase its marketing spend in the state of New South Wales (NSW) on strong retail margins, after reporting a 30.4 percent rise in first-half net profit on Wednesday. AGL said it would expect a similar performance from its retail and wholesale ...	Brazil's Petrobras acquires exploratory block in Benin February 23, 2011 Brazil's state-controlled oil and gas giant Petrobras announced on Tuesday the acquisition of a 50 percent interest of an exploratory block in Benin, in western Africa. The company acquired Block 4, located off the Beninese coast, from Compagnie Beninoise des Hydrocarbures (CBH), a subsidiary of Lusitania Petroleum. CBH hold ...