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Asian stocks traded higher as oil backed off from $120 a barrel on rumors Libya's Muammar Gaddafi had been shot, prompting a corresponding recovery in U.S. equities the day before.
European shares were set to edge up on Friday, snapping five straight sessions of falls, after a retreat in crude prices.
On an average day, a quarter of a trillion dollars in fixed income instruments is traded on their very floor. BNP ranks #1 for treasury-inflation protected securities, better known as 'TIPS.'
Saudi Arabia is in “active talks” with European oil companies to meet the production shortfall left by Libya, the clearest indication to date that the leader of the Opec oil cartel is about to boost supplies to stop further rises in the oil price.
The spread between Brent and NYMEX crude is currently around $15 a barrel and according to Jim Bianco, the president of Bianco Research, this is due to one pipeline pumping crude from Canada into Cushing near Oklahoma City.
Oil could hit $220 a barrel if "Libya and Algeria were to halt oil production together," analysts at Nomura investment bank predicted.
Asian stocks weakened after Wall Street extended losses as violence in Libya prompted a spike in oil prices.
European stocks were seen inching lower on Thursday, adding to this week's sell-off as mounting worries over unrest in Lybia sent U.S. crude oil futures above $100 a barrel.
Mad Money host Jim Cramer provides traders with all manner of investing advice.
The mass protests in Bahrain will make the country stronger and not lead to the fall of the ruling royal family, the boss of Bahrain's sovereign wealth fund has told CNBC.
Oil prices will need to rise another 50-60 percent before energy costs put a squeeze on consumers with the same impact as 2008, according to the fixed income team at Credit Suisse.
Simon Derrick from Bank of New York Mellon has back through the history books to see how the dollar reacts to political tensions with Iran. He found that as long as American troops were not involved in any of the problems, the dollar did very well when Tehran has been in the headlines back through the history books to see how the dollar reacts to political tensions with Iran and found that if American troops are not involved in any problems, the dollar has in the past done very well when Tehran was in the headlines.
Muammer Gaddafi’s family has built up vast business interests in sectors ranging from oil to hotels during his 41-year rule, giving it a hold over large swathes of Libya’s economy, according to US diplomatic cables and governance groups, reports the Financial Times.
The second leg of the US housing downturn will continue throughout the year and could be nasty if a vicious circle of falling prices and rising foreclosures continues, according to Capital Economics.
With Muammar Gaddafi vowing to die a martyr or crush a growing revolt in Libya, one academic has warned that the North African state risks becoming a failed state with huge consequences for Europe and the world.
Asian stocks fell for a second day as investors pull out from riskier assets, with turmoil in Libya driving crude oil prices to 30-month highs and sparking worry of slower global growth.
With oil prices rising sharply on the back of the crisis in Libya, the head of the International Energy Agency has warned crude prices hitting $100 a barrel could be bad news for economic growth.
Saudi Arabia will not allow any supply disruptions from the Middle East to impact global supplies of oil, the oil-rich country's deputy oil minister told CNBC Tuesday.
A Credit Suisse banker has been arrested in connection with a long-running US tax evasion investigation and could be one of several individuals likely to face charges this week as prosecutors turn their focus from institutions to bankers and wealthy clients, said people familiar with the matter.
Bank of America has revised the results of its international credit card business for the last two years, adding a $20.3bn non-cash goodwill writedown in 2009 while reversing a $10.4bn charge made last year.