Crude futures rose on Tuesday over Iran concerns after United States President George Bush warned that nations worldwide will not back down from their demand that Tehran suspend uranium enrichment. Worries over Iran’s nuclear ambitions have clouded the outlook for the nation’s oil exports.
Unrest in Africa. Mideast insurgency and terrorism. Iran’s nuclear brinkmanship. Russian pressure politics. South American resource nationalism. Piece by piece, the global energy puzzle reveals a bleak horizon for a world frantically searching for secure oil and gas supplies.
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/ 27 January 2006
It’s a birthday bash being heard around the world. Salzburg, the cobblestoned and turreted city of Mozart’s birth, was leading Friday’s 250th anniversary celebrations — but the strains of the master’s music were vibrating through every corner of the planet.
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/ 24 October 2005
Crude slid below on Monday as Hurricane Wilma crashed ashore in Florida, avoiding already battered Gulf of Mexico oil-producing and -refining facilities. Analysts said perceptions of relatively plentiful supply and revised assessments showing less damage from previous hurricanes also contributed to the downward trend.
Oil prices swung sharply upward on Friday as traders shrugged off the shock of the London bomb blasts and focused on a drop in United States crude stocks and possible supply disruptions because of Hurricane Dennis. Light, sweet crude for August delivery was up 84 cents at ,57 a barrel by midday in Europe.
It was a sign of life from a boy reaching out to his long-lost mother. Yet in a country scarred by war, his words dug deep into wounds gouged more than a decade ago. "Greetings to my mom … from your son Rade," read the scrap of paper the boy sent in the mail along with his photograph.
Crude futures rose on Monday ahead of a meeting between United States President George Bush and Saudi Crown Prince Abdullah that will focus in part on possible ways to bring down high oil prices. Analysts said that a rash of refinery outages in the US and Venezuela underpinned the bullish market.
Oil prices rose on Thursday as traders digested United States government figures showing a large increase in crude inventories but a drop in gasoline stocks ahead of the driving season. Light, sweet crude on the New York Mercantile Exchange was up 15 cents at ,14 a barrel by midday in Europe.