Brent crude futures held steady at $106 a barrel on Friday, with the impact of slowing global economic growth partially tempered by potential supply disruptions in the Middle East.
Chrysler CEO Sergio Marchionne, blunt in his assessment of how European leaders have handled their faltering economy, says Europeans need to stop complaining.
Thursday, 24 May 2012 | Source: Christian Science Monitor
This Memorial Day weekend, motorists will find gasoline plentiful and at the lowest price it’s been for two years. Good news. And it may get better. The Christian Science Monitor reports.
Crude futures rose on Thursday, rebounding from the previous session's slump as investors fretted about potential disruptions to Middle East oil supplies after talks between world powers and Iran over its nuclear program ended with no agreement.
Oil fell on Wednesday as signs of a looming deal between Iran and the UN nuclear watchdog eased fears of a supply disruption, while the euro zone debt crisis and a slowing Chinese economy raised worries over demand.
Oil prices fell on Tuesday as signs of a deal between the U.N. nuclear watchdog and Iran on Tehran's nuclear program eased fears of oil supply disruptions.
Oil prices rose on Monday after China's premier called for more efforts to stimulate growth and as investors cautiously awaited results of Iran's second round of talks with major powers over its nuclear program.
Brent crude dipped on Friday in choppy trading after recovering from a 2012 low as the euro rallied from a four-month low, but oil fell as Greece's political turmoil kept concerns about the euro zone in focus.
Oil fell on Thursday, touching the lowest level since December, as investors avoided bets on riskier assets with the turmoil in Greece deepening and fears rising of contagion spreading to other euro zone economies.
Crude oil futures tumbled on Wednesday as banking troubles in Greece further highlighted the euro zone debt crisis, pulling U.S. equities lower as risk aversion hit across markets.
Shares fell on Tuesday as investors liquidated riskier assets and sought refuge from the political turmoil fuelling fears of Greece's exit from the euro and threatening to ruin any progress made so far to solve the euro zone debt crisis.
Top crude exporter Saudi Arabia wants an oil price of around $100 a barrel and would like to see global inventories rise before demand picks up in the second half of the year, Oil Minister Ali al-Naimi said on Sunday.
Crude oil prices fell Tuesday, driven by adequate supply and indications that some progress is being made with Iran on the eve of six-nation talks in Baghdad... Read More