The price of oil rose above $94 a barrel on Wednesday, fuelled by US demand amid a deep freeze across much of the country.
South Africans may face a petrol price hike of up to 78 cents a litre next month, according to ETM Analytics managing director George Glynos.
A French exploration company is planning to hunt for oil and gas in a 121 000 square kilometre area off the KwaZulu-Natal coast next year.
Oil importing costs have outweighed overseas financial aid received by developing countries in Africa, highlighting why Africa needs clean energy.
Any infrastructure plans that are based on oil dependency should be scrapped and replaced with sustainable alternatives.
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/ 8 December 2011
Oil prices have moved higher to almost $102 a barrel in Asia in anticipation of Europe’s interest rate decision and debt crisis summit.
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/ 11 November 2011
Global oil prices have surged almost 30% from an eight-month low of $75 a barrel indicating a surprising improvement in global economic expectations.
Oil prices fell more than 3% on Monday after United States forces killed al-Qaeda leader Osama bin Laden on Sunday night.
Oil prices fell to near $112 a barrel on Friday in Asia as slowing US economic growth blunted crude’s 33% gain over the past two months.
Gold and silver prices rose on Wednesday as investors continue to worry about inflation and how the US and Europe will deal with their financial woes.
Oil fell on Monday after Muammar Gaddafi appeared to accept a cease-fire plan, increasing the chances that Libyan crude will return to world markets.
The South African Reserve Bank remains concerned about the effects of rising oil and food prices on the outlook for inflation, Gill Marcus says.
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/ 22 February 2011
South Africa’s been cushioned from the effect of oil-price hikes during the past two years. But what if the devaluation trend re-emerges?
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/ 3 February 2011
World oil prices extended their gains in Asian trade on Thursday after the political crisis in Egypt erupted into violence.
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/ 31 January 2011
Oil topped $100 per barrel on Monday for the first time since 2008, as traders fretted over violent unrest in Egypt.
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/ 23 October 2009
Report on crude oil futures blames global governments for ignoring the supply problem, writes Ashley Seager
SA consumers are in for a rough ride and can expect to be hit by the cost of petrol and electricity and pretty much anything packaged in plastic.
Energy ministers from G8 countries on Sunday heard that oil prices could again soar when the global economic crisis eases and demand returns.
Oil prices fell to below a barrel on Thursday as weak US retail sales and housing figures dampened optimism about an economic turnaround.
Oil rose towards a barrel on Wednesday after US inventory data showed an unexpected drawdown.
Worries about global economic growth and expectations of a weak US jobs report pushed oil prices lower on Friday.
Oil jumped to a three-week high on Monday after an Iranian military commander called for an oil boycott over Israel’s offensive in the Gaza Strip.
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/ 12 December 2008
Nigeria’s Supreme Court upheld the election of President Umaru Yar’Adua on Friday, giving him the mandate to lead Africa’s most populous nation.
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/ 27 October 2008
Oil prices sank beneath $60 a barrel in London on Monday, hitting a 17-month low point on worries that a global recession would sap energy demand.
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/ 24 October 2008
Oil fell below a barrel on Friday, to new 16-month lows, as gloom about a global economic downturn.
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/ 22 October 2008
Oil fell below a barrel on Wednesday, pressured by a gloomy outlook for the global economy.
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/ 20 October 2008
Oil rose on Monday, supported by expectations Opec may cut output this week to boost prices that have fallen more than 50% in just three months.
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/ 10 October 2008
Oil fell more than a barrel to a one-year low on Friday, depressed by expectations that global demand growth will shrink.
Oil prices fell below a barrel on Thursday in Asia on investor fears that crude demand will weaken amid turmoil in the financial system.
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/ 22 September 2008
Oil prices rose on Monday as investors grappled with the possible effects on crude demand of a -billion US proposal to buy bad mortgage debt.
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/ 12 September 2008
Oil held above a barrel on Friday, underpinned by Hurricane Ike which could threaten to disrupt production in the United States.
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/ 10 September 2008
World oil prices rebounded on Wednesday above $100 a barrel after a surprise decision Opec to cut production by 520 000 barrels a day.