CRUDE OIL

Who Is Africa?s Richest Man?

Forbes has upped its wealth estimate for Aliko Dangote, founder and chief executive officer of the Dangote Group, to $11.2 billion.

US Trade Deficit Improves In April: Commerce Dept.

Lower U.S. demand for crude oil and petroleum products in April helped shrink the nation's balance-of-trade deficit from the previous month, the Commerce Department said Friday, but the trade deficit with China worsened.

Another Petrol Price Hike On Cards In India?

Petrol price woes in India are not going to end anytime soon. Oil companies, which had raised Rs 7.5 per liter over a week ago, announced a rollback of Rs 2 Saturday after wide protests against the hike. However, the companies Monday said that the prices would be reviewed June 15.

BP To Sell Stake In TNK-BP, May Be Worth $30B+

BP PLC is selling its stake in Russia-based crude oil and natural gas venture TNK-BP after receiving a unsolicited indications of interest regarding the potential acquisition, the British company said Friday.

Industrial Commodities, Stocks Drop; Gold Posts Surprise Gain

Crude oil prices slid more than 3 percent Wednesday on fears of a slowdown in global economic growth. U.S. stocks also closed lower, with major indexes all down more than 1 percent and yields on the benchmark 10-year Treasury sank to a record 1.64 percent.

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