India Bows To US Pressure, Will Cut Iranian Oil Imports

In a major victory for the US-EU led sanctions on Iran, the Indian government has asked top two importers of Iranian crude to cut their imports by at least 15 percent this year, the Wall Street Journal WSJ reported, quoting industry sources.

May Day Bull Run: Daily Markets Wrap

The news of the day centered on a better-than-expected U.S. manufacturing report for April, which sent ripples across the markets, boosting stocks as investors moved away from bonds and giving a bump to the dollar and crude oil. Investors are hoping this good news will be matched in Friday?s April U.S. jobs report.

Exxon Mobil Shuts Louisiana Oil Pipeline After Leak

Exxon Mobil Corp has shut the 160,000 barrel-per-day (bpd) North Line crude oil pipeline in Louisiana after a leak spilled 1,900 barrels of crude oil in a rural area over the weekend, affecting a conduit that supplies the nation's third-largest refinery.

Iran: A Modern Day 'Nazi Germany'?

Some top Israeli officials have repeatedly compared the current regime in Tehran to Nazi Germany and Adolph Hitler?s program of exterminating the Jews.


An engineer walks past piles of oil tanks at a PetroChina's oil refinery in Lanzhou

PetroChina Q1 Profit Rises 5.8% On Higher Oil Output

PetroChina Co, the world's second largest oil and gas firm, reported a $6.21 billion profit in the first quarter on Thursday, giving the company a 5.8 percent increase compared to the same period a year ago.
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Asian Stocks Up Despite Spain Downgrade; Euro Down

Asian shares inched up Friday, tracking U.S. stocks which jumped overnight on strong U.S. housing data and earnings, but concerns over the health of European banks weighed on investor risk appetite after Standard & Poor's downgraded Spain's rating.
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Fed's Reassurance, Earnings Optimism Lift Asian Shares

Asian shares gained on Thursday, retaining positive momentum as the Federal Reserve reassured markets that it will keep its highly accommodating stance to support growth, and optimism grew over strong corporate earnings after Apple Inc's robust results.
A drilling rig in the Eagle Ford Shale in South Texas

Natural Gas Prices Unsustainable For Future Growth, Says Poll

According to a survey released this week, oil and natural gas executives and investors think the price of natural gas will remain below $2.50 per 1,000 cubic feet for the rest of the year -- a level that is too low for the industry's growth.