Even as calls for the intervention of the U.S. and the western forces in the Libyan crisis gained momentum, besieged Libyan leader Muammar Gaddafi has said there is a foreign plot to colonize his country.
U.S. stocks rallied on the back of strength in financial shares after a drop in oil prices on reports that Libyan leader Moammar Gaddafi may be negotiating an exit from the country.
Moammar Gaddafi is in a hotel in Tripoli filled with foreign reporters and will speak to them sometime tonight, according to CNN.
U.S. stocks rallied on the back of strength in financial shares are a drop in oil prices on reports that Libyan leader Moammar Gaddafi may be negotiating an exit from the country.
Oil prices slipped on Tuesday, with Brent falling nearly 2 percent, after Kuwait's oil minister said OPEC was considering a production boost as war-torn Libya's output remained disrupted and the region's unrest fueled concerns about more supplies being cut off.
If Moammar Gaddafi steps down from power within the next 72 hours, rebels in Libya will not seek to prosecute for crimes they believe he has committed, according to a report in Al Jazeera.
Treasury Secretary Timothy Geithner urged Europe on Tuesday to strike a balance between tough fiscal reforms and financial support for troubled member states ahead of two crucial EU summits to resolve the bloc's debt crisis.
U.S. stocks rose on Tuesday after an upbeat profit forecast from Bank of America and a pullback in oil prices, which could lead to further gains if the Dow mounts a key level.
General David Petraeus, commander of NATO troops in Afghanistan, was caught on microphone “joking” with Defense Secretary Robert Gates about taking military action against Moammar Gaddafi and bombing Libya.
Stocks jumped on Tuesday after a pullback in oil prices and an upbeat profit forecast from Bank of America, but technical signals still suggested a market correction was near.
The spreading unrest in the Middle East's oil exporting countries could push crude prices higher, resulting in a huge blow to the U.S. economy which is otherwise looking good, according to an analyst.
U.S. stocks were flat on Tuesday as continued turmoil in Libya indicated a quick resolution to the unrest in that country was not on the horizon and a drop in oil prices failed to ease investor worry about the economic recovery.
U.S. stock index futures pointed to a flat open on Tuesday as more turmoil in Libya indicated a resolution was not close and a drop in oil prices failed to ease investor worry about the economic recovery.
Confusion reigns in Libya over whether Moammar Gaddafi offered rebel leaders a peace deal or not.
OPEC is in consultations regarding a potential boost in oil output but hasn't decided whether to approve one, Kuwait's Oil Minister said on Tuesday.
U.S. stocks ended lower on Monday, led by declines from technology shares after Wells Fargo downgraded the semiconductors sector.
Oil fell from recent highs on Tuesday on reports that OPEC may boost production, prompting some recovery on equity markets.
Members of oil cartel OPEC are joining Saudi Arabia in raising output to cool soaring prices and allay fears of a supply crunch in the West, the Financial Times newspaper reported on Tuesday.
Emerging market economies that powered the global recovery may be growing too fast for their own good as inflation pressures build, a top International Monetary Fund official said on Monday.
Brent crude oil prices fell more than 1 percent on Monday, reversing steep early gains as traders assessed efforts to stem the conflict in Libya and took profits in Brent's unprecedented premium to U.S. futures.
OPEC member Algeria is concerned about Libyan supply disruptions but sees no physical crude oil shortages globally, the country's oil minister said on Monday.
Libyan leader Muammar Gaddafi was looking for an agreement allowing him to step down, said Al Jazeera quoting sources in the governing council.
