There is now one more catalyst that can push up oil prices.
Oil rose 2 percent on Wednesday as escalating violence in the Middle East raised concerns about crude supplies, countering the wave of risk aversion sparked earlier this week by Japan's nuclear crisis.
The Gold Price ticked higher in London trade on Wednesday, holding above yesterday's 4-week lows to reach $1400 per ounce, as a rally in Japanese shares failed to prevent further losses in global stock markets.
The uprising against Libyan leader Moammar Gaddafi will be crushed within the next forty-eight hours as forces loyal to the government close in on the rebel stronghold of Benghazi in the eastern part of the embattled country, according to Gaddafi’s son.
Japanese stocks rebounded on Wednesday from a major pummeling that some investors thought overdone, lifting equities elsewhere and allowing the yen to dip from a near record high against the dollar.
Japanese stocks rebounded on Wednesday from a major pummeling that some investors thought overdone, lifting equities elsewhere and allowing the yen to dip from a near record high against the dollar.
Brent crude fell as much as 1.1 percent to touch a three-week low near $107 on concern about Japan's nuclear crisis, but recovered to erase losses as Bahraini security forces attempted to clear protesters on Wednesday.
Publishing U.S. diplomatic cables helped shape uprisings in North Africa and the Middle East, WikiLeaks co-founder Julian Assange said on Tuesday.
Brent crude fell more than $1 on Wednesday to a three-week low near $107 as pessimism about Japan's nuclear crisis offset concern about Middle East unrest after Bahrain declared martial law.
Pro-government forces are battling rebels for control of the oil port of Brega, as Moammar Gaddafi intensifies his assault on opposition groups in the eastern parts of Libya.
Italy has blocked a ferry carrying about 1,800 people, primarily Moroccans fleeing Libya, from docking in Sicily, on orders from Rome’s interior ministry.
Brent crude fell below $110 a barrel for the first time in nearly three weeks on Tuesday as a deepening nuclear crisis in Japan and rising radioactivity levels heightened risk aversion across financial markets.
The decision by Saudi Arabia and other GCC countries to send armed forces to Bahrain to help quell protests is bad enough; but worse is the explanation that the move is in accordance with a Gulf Cooperation Council (GCC) defense pact.
The leader of France’s extreme right-wing National Front party, Marine Le Pen, has said that North African migrants who have arrived on the Italian island of Lampedusa to escape from unrest in Tunisia and Libya should be immediately turned back to their native countries.
Forces loyal to Libyan leader Moammar Gaddafi have bombed the town of Ajdabiya, as government soldiers appear to be advancing deeper into rebel-controlled areas of the country.
Oil slipped on Monday on concerns over the economic impact from Japan's earthquake and tsunami, although prices were off two week lows, underpinned by continued unrest in oil rich North Africa and the Middle East.
Oil fell to two-week lows on Monday, slipping nearly $3 at one point, as concerns over the economic impact from Japan's catastrophic earthquake and tsunami knocked global investor confidence.
Oil fell to two-week lows on Monday, slipping nearly $3 at one point, as concerns over the economic impact from Japan's catastrophic earthquake and tsunami knocked global investor confidence.
Gold Bullion prices jumped at the start of Asian trade on Monday, gaining 1% against all major currencies as news broke that a third nuclear reactor north-east of Tokyo has gone into meltdown following last week's Japanese tsunami.
Secretary of State Hillary Clinton will meet with members of the Libyan opposition in Paris on Monday as she takes part in a broader Europe and Northern Africa Trip where she will also visit Egypt and Tunisia.
A cameraman for Arabic television network Al Jazeera has been murdered in what is believed to have been an ambush near Benghazi in rebel-controlled eastern Libya.
Oil fell to two-week lows on Monday, slipping nearly $3 at one point, as concerns over the economic impact from Japan's catastrophic earthquake and tsunami knocked global investor confidence.
