U.S. natural gas inventories could be at seriously low levels at the start of winter this year, if current rates of liquefied natural gas (LNG) imports remain at record lows, a Goldman Sachs report said Wednesday.

U.S. gasoline is no longer the leading fundamental driving oil markets, according to a report penned by Arjun Murti of Goldman Sachs Tuesday. Murti who famously predicted the dawn of the “super spike” back in March 2005, says this dramatic shift could have meaningful implications for the energy markets.

Russia and the United States signed on Tuesday a long awaited civilian nuclear cooperation pact that will allow firms from the world's two biggest atomic powers to expand bilateral nuclear trade.

Indonesia is considering quitting the Organisation of Petroleum Exporting Countries (OPEC) as the country's crude oil output had declined, the country's President Susilo Bambang Yudhoyono said on Tuesday.

On the surface at least, giving drivers a summertime "holiday" on the 18.4 cent federal gasoline tax sounds like a good idea. Too bad the idea flunks Economics 101.

European shares rose on Wednesday, boosted by better U.S. economic data and a raft of bullish company updates, to register their best monthly performance in 4-1/2 years ahead of a key U.S. rate decision.

Earnings out of Europe were mixed Wednesday as telecom giant Alcatel-Lucent cuts its telecom market forecast and reported a bigger-than-expected first-quarter net loss.

Australian gaming machine maker Aristocrat Leisure said on Tuesday its underlying earnings growth this year would be "well below" target, sending the stock down 8 percent to its lowest in more than three years.

Energy producers cannot halt a rally that has driven oil to nearly $120 a barrel and the world might have to live with even higher prices if it wants supplies for the future, exporters said on Tuesday.

The Organization of Petroleum Exporting Countries sees no need to raise oil production to counter high oil prices, the OPEC President said on Sunday.

Diversified U.S. manufacturer Honeywell International said on Friday profit rose 22.2 percent, topping Wall Street's expectations, on strong demand from the aviation and commercial construction sectors.

Diversified manufacturer United Technologies reported profit that topped Wall Street's expectations Thursday but its shares fell in early trading after the company held its full-year outlook steady and warned of a slowing economy.

NBC Universal's first-quarter performance fell far short of parent General Electric's expectations, again raising questions over whether the broadcast network belongs within the industrial conglomerate.

General Electric's unexpected drop in first-quarter profit is the biggest shock yet to American industry from the credit crisis. It's also seen as the latest sign the U.S. economy may be in a recession.

European stocks ended down 1.4 percent on Friday, their biggest one-day drop since mid-March as a profit warning by General Electric rattled investors and cemented the view that the US economy was tipping into recession.