European shares sored to heights on Monday after France's BNP Paribas launched a $10.8-billion takeover bid for Italy's sixth biggest bank BNL, and as energy stocks gained on surging oil prices.
Finally some respite in those burgeoning oil prices breaking the back of monthly budgets. Crude oil prices slid more than $2 a barrel Tuesday in a sign that market jitters may be easing somewhat becau
Roman Abramovich, better known as the owner of football team Chelsea better acknowledged for his laden pockets and extravagant lifestyle agreed to sell Russian oil company Sibneft for 7.36 billion pou
Crude oil prices neared $68 per barrel Thursday as Hurricane Rita closed in on Texas, raising fears it could cripple major production facilities largely untouched by Hurricane Katrina three weeks ago and drive up at-home energy costs this winter.
After hurricane Katrina spelling doom for oil consumers all over the globe Crude-oil futures yesterday surged more than $4 -- the biggest one-day price jump ever -- amid worries that Tropical Storm Ri
26 countries including the United States have pledged to release oil, gasolene and other petroleum products from their emergency reserves to bring down soaring prices and avert domestic shortages.
The Bush administration announced new fuel economy rules Tuesday that require improved mileage for the sports/utility vehicles and other light trucks that have captured a majority of U.S. auto sales.
Traders shrugged off a rise in OPEC's official production ceiling Friday and took bullish positions ahead of Monday's U.S. holiday, pushing the price of crude oil close to $ 57 a barrel.
The high oil price was "destroying" the profitability of the global airline industry, which was facing losses this year of $ 6 billion, its fifth successive year of net losses, Giovanni Bisignani, director general of the International Air Transport Association (IATA) said Monday.
Stocks fell yesterday as energy shares plunged on a decline in oil prices and raw-material producers slumped on concern that demand is slowing. Shares of Wal-Mart Stores decreased on disappointing ear
