Oil prices spiked more than 2 percent Monday after news flashed on the wires about a British yacht crew being detained in Iran. Traders were already on high-alert after report this morning that the Iranian government plans to expand its nuclear program.
US oil demand in September was up 523,000 barrels per day compared to a year earlier, the first year-over-year increase in oil consumption for any month since July 2007, the government said on Monday.
Restructuring of Dubai World's liabilities is unlikely to threaten credit quality of the United Arab Emirates' federal government and the holder of most of its oil wealth Abu Dhabi, ratings agency Moody's said on Monday.
Making one's true love happy will cost a whopping $87,403 this year, a minuscule increase from last year, according to the latest cost analysis of the items in the carol "The Twelve Days of Christmas."
The world should agree to halve greenhouse gas emissions by 2050 from 1990 levels as part of a U.N. climate pact in Copenhagen in mid-December, according to a suggested text by hosts Denmark.
Oil prices added to their gains Monday after Iran detained five Britons whose racing yacht may have inadvertently strayed into Iranian waters as it traveled from Bahrain to Dubai.
Commodity markets took a hit on Friday as investors recoiled from risk and piled into dollars, with fears of a Dubai debt default serving as a sharp reminder of the turmoil created by the global financial crisis.
Oil prices dropped more than 2 percent on Friday as fears of possible defaults in Dubai convulsed financial markets and boosted safe-haven demand for the U.S. dollar.
Thursday, 26 Nov 2009 | Source: The New York Times
US corporations have long been bracing for the day they would have to make sharp cuts in their emissions. That day moved closer when President Obama outlined a target for such reductions, the New York Times reports
China has unveiled its first firm target to curb greenhouse gas emissions, laying out a "carbon intensity goal" on Thursday that Premier Wen Jiabao will take to key climate talks in Copenhagen next month
Wednesday, 25 Nov 2009 | Source: The Associated Press
The US will pledge to cut its greenhouse gas emissions by 17 percent by 2020 at a UN climate change meeting in December, which President Obama will attend, the White House said.
U.S crude oil is expected to rise to an average of $75.40 a barrel in 2010, a Reuters poll showed on Wednesday, but analysts said a deep pool of global supply would keep short-term price growth in check.
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