CRUDE OIL

Oil prices slipped on Monday, briefly touching their lowest level in almost two months on concerns over the state of the global economy.

Oil prices slipped more than $1 to below $59 a barrel on Monday, hitting their lowest in almost two months on concerns over the state of the global economy.

Oil prices slipped below $60 a barrel on Monday, heading toward a seven-week low on concerns over the state of the global economy as stock markets slid.

Oil prices fell more than $1 to below $59 a barrel on Monday, slipping toward a seven-week low on concerns about the state of the global economy as equities markets tumbled.

Oil prices fell more than $1 to below $59 a barrel on Monday, slipping to a seven-week low on concerns about the state of the global economy as equities markets tumbled.

Oil prices fell $1 to below $59 a barrel on Monday, extending last week's losses to languish at a seven-week low, as lingering concerns about the pace of a global economic recovery encouraged a further sell-off.

Oil prices fell below $60 a barrel on Monday, extending last week's losses to languish at a seven-week low, as lingering concerns about the pace of a global economic recovery encouraged a further sell-off.

Oil prices steadied at just above $60 a barrel on Monday, pausing from last week's losses, amid growing concerns about the pace of a global economic recovery and its impact on world energy demand.

he International Energy Agency forecasted global oil demand will increase by 1.4 million barrels per day or 1.7 percent to 85.2 million barrels per day in 2010.Crude oil fell below $60 to $59.52 per barrel on the New York Mercantile Exchange Friday. Vestas Wind Systems announced Friday it has received two orders to deliver, install and commission a total of 38 wind turbines for two Chinese projects.

The top regulator of U.S. futures markets is considering a clampdown on excessive speculation in energy and commodity trading by restricting holdings of big players, part of a broader move by the Obama administration to stabilize the financial markets.

The regulator of the U.S. futures markets is considering tough new rules to clamp down on speculative trading in energy and other commodities and will hold public hearings in the next few weeks to seek comment.

Stock index futures pointed to a sharply lower open on Thursday after payrolls data showed more Americans than expected lost their jobs in June, dampening hopes that the economy may be heading out of recession quickly.

Stock index futures fell on Thursday as investors braced for all-important monthly jobs data for insight into the state of the economy.

Oil prices gave away early gains on Tuesday, easing toward $71 a barrel ahead of U.S. inventory data expected to show a rise in oil product stocks.

Asian stock markets were mixed on Monday as many investors stuck to the sidelines as the second quarter winds down, while the dollar recovered from a slide on worries about the push by major emerging countries for a reserve currency alternative.

Oil slipped below $70 a barrel Friday after Nigeria said it would halt a battle with rebels during a 60-day amnesty period for militants and release a suspected rebel leader if he accepted an amnesty offer.

Oil ticked up above $70 a barrel on Friday after Nigerian rebels said they blew up a wellhead in a Royal Dutch Shell oilfield and as equity markets rallied on perceptions the global recession was easing.

Nigeria's main militant group said it had blown up a well-head in a Royal Dutch Shell oil field in Delta state late on Thursday, hours after President Umaru Yar'Adua announced an amnesty offer for gunmen.

Oil rose toward $71 a barrel on Friday after Nigerian rebels said they blew up a wellhead in a Royal Dutch Shell oilfield and as equity markets rallied on perceptions the global recession was easing.

An environmental group on Wednesday asked U.S. Secretary of State Hillary Clinton to deny permits for pipelines that would bring oil from Canada's tar sands to the United States.

Commodity index traders had snapped up more than 200,000 wheat contracts by mid-2008 that helped fuel last year's record jump in prices, which ended up raising costs for both industry and consumers, according to a year-long bipartisan Senate probe.