Brent crude futures slipped on Thursday but remained above $115 a barrel, as forces loyal to Libyan leader Muammar Gaddafi launched a fresh bombardment on the eastern Libyan oil town of Ras Lanuf, triggering fears of long-term damage to the country's oil infrastructure.
Wall Street is set to open lower on Thursday, with futures for the S&P 500, Dow Jones and Nasdaq down 0.3-0.6 percent at 1019 GMT.
U.S. stocks ended modestly lower in choppy trading as unfolding events in Libya and their impact on oil prices seem to be the overriding factors to most investors.
Oil prices rose to near $105 a barrel in Asia on Thursday, following reports that crude production in Libya has dropped more than earlier estimate, as fresh battles between the forces loyal to Moammar Gadhafi and rebels led to damage of key oil infrastructure in the country.
European stocks and the euro retreated on Thursday after Moody's downgraded Spain, reigniting worries over the euro zone debt crisis, while ongoing violence in Libya kept Brent crude hovering around $116.
A group of UK-based journalists were detained and abused by security forces loyal to Moammar Gaffadi as they tried to reach the western Libyan city of Aw-Zawiyah, which has witnessed savage fighting between rebel s and government soldiers
U.S. stocks weakened a bit in choppy trading and unfolding events in Libya and their impact on oil prices seem to be the overriding factors to most investors.
Brent oil prices rebounded toward $116 a barrel on Wednesday as intense fighting in Libya stoked more supply worries and U.S. crude fell as inventories rose sharply, widening Brent's premium against U.S. crude.
Brent oil prices rebounded toward $116 a barrel on Wednesday as intense fighting in Libya stoked more supply worries and U.S. crude fell as inventories rose sharply, widening Brent's premium against U.S. crude.
Libyan officials have arrived in Brussels, Belgium for talks with European Union delegates, just before the EU foreign minister meet to discuss the crisis in Libya, according to Al Jazeera.
U.S. stocks wavered between small gains and losses on Wednesday as oil prices remained near $105 a barrel amid reports of intensified fighting in Libya.
Squatters have entered and occupied a house in London that is believed to be owned Saif al-Islam Gaddafi, son of the Libyan leader, according to the Metropolitan Police.
Airbus parent EADS returned to profit in 2010 and bagged a slew of new aircraft orders, boosting its shares even as airline customers fret about a massive surge in oil prices.
Moammar Gaddafi-backed forces have reportedly launched fresh air strikes on the key oil port city of Ras Lanuf, raising fears about the vulnerability of local gas facilities and a possible humanitarian catastrophe.
China should increase its gold reserves appropriately, and must take every chance to buy, especially when Gold Prices fall, said Li Yining, a senior economist at Peking University and an advisor to the national parliament's Political Consultative Committee, quoted today by Beijing's official Xinhua News Agency.
Oil rose by more than $3 on Wednesday to over $116 a barrel as fighting intensified in Libya, and an OPEC delegate said it saw no need to hold an emergency meeting to ease supply fears.
Oil rose by more than $2 on Wednesday to over $115 a barrel as fighting intensified in Libya, and an OPEC delegate said the group saw no need to hold an emergency meeting to ease supply fears.
US stocks opened lower in early trade on Wednesday, with S&P 500 Index losing 4.68 points, or 0.35 percent, to trade at 1,317.14 at 09:50 a.m. EST. The Dow Jones Industrial Average is down 24.71 points, or 0.20 percent, to trade at 12,189.67. The Nasdaq Composite Index fell 0.61 percent to trade at 2,750.45.
Stocks fell on Wednesday as oil prices advanced on continued turmoil in Libya and as a bond auction in Portugal failed to ease concerns the country would need a bailout.
Moammar Gaddafi has warned that if a no-fly zone is imposed n Libya by the UN Security Council, he and his military will respond with armed resistance.
A Libyan airplane carrying a senior representative of Moammar Gaddafi’s government has apparently landed in Cairo. The Libyan official on the aircraft is reportedly set for talks with Amr Moussa, chief of the Arab league.
The price of gold may touch $5,000 an ounce in the next 4 to 5 years, California-based Capital Gold Group Inc. says.
