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Libyan Protests

Oil Futures Snap Losing Streak on Libya Uncertainty

NEW YORK--U.S. oil futures snapped a three-day losing streak Thursday as traders looked skeptically at reports that a deal could be struck in eastern Libya to resume crude-oil exports.Light, sweet crude for May delivery settled up 67 cents, or 0.7%, at $100.29 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange rose $1.36, or 1.3%, at $106.15 a barrel.Brent prices fell to a near-five-month low Wednesday on reports that Libyan rebels could reach an agreement to reopen export terminals in eastern Libya that have been blockaded.However, market watchers are uncertain that exports will resume. Some Libyan oil production has restarted in recent months only to be halted again amid renewed unrest."I think it's a toss-up," said Dominick Chirichella, analyst at the Energy Management Institute. "Until I see it, I just don't believe it. We've seen so many of these instances in Libya."Unrest in Libya has kept the country's oil production well below capacity this ye...

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  1. OMV 4Q Production Decreased Due to Protests in Libya , Unrest in Yemen

    Austrian oil and gas company OMV AG (OMV.VI) said Friday fourth-quarter production decreased on the quarter due to unrest in Libya and Yemen as well as a planned mai...

  2. Canadian police allege ex-SNC executive paid bribes to Gaddafi son

    A son of deposed Libyan leader Muammar Gaddafi allegedly received 120 million euros ($162 million) in bribes for giving major contracts in Libya to SNC-Lavalin Inc ,...

  3. Eni to invest $8 billion to boost Libya production

    Italy's Eni plans to invest $8 billion in Libya over the next 10 years to develop its upstream business as it moves to strengthen its grip as the leading internation...

  4. How Can Libyan Protests Impact the Oil Market?

    Mizuho Energy Futures director Bob Yawger argues unrest in the Middle East could threaten oil supply.

  5. Protesters Storm U.S. Embassies in Yemen, Egypt

    Demonstrators attacked the U.S. embassies in Yemen and Egypt on Thursday in protest at a film they consider blasphemous to Islam, and American warships headed to Lib...

  6. Mideast Tensions a Reflection of U.S. Foreign Policy?

    Dr. Walid Phares discusses recent actions against Secretary of State Hilary Clinton in Egypt and continued turmoil throughout the Middle East.

  7. OPEC Oil Output Rises to More Than 3-Year High

    OPEC oil output has risen in February to the highest since October 2008 due to a further recovery in Libya's production, as well as higher supplies from Angola and S...

  8. Year in Review: Right Back Where We Started

    The year now ending could well be characterized as one in which a whole lot happened -- but not a lot got done.One need look no further than U.S. stock market for pr...

  9. Geraldo to Protestors: Don't Let Jerks Highjack Your Movement

    FNC's Geraldo Rivera on the Wall Street protesters' message.

  10. COMMODITY TRADERS: The trillion dollar club

    By Joshua SchneyerNEW YORK (Reuters)- For the small club of companies who trade the food, fuels and metals that keep the world running, the last decade has been sens...

  11. Obama: Libyan People Have Won Their Revolution

    U.S. President Barack Obama said on Thursday the United States would be a partner to Libya following the death of Muammar Gaddafi and said the NATO mission in the No...

  12. Analysis: Arab Spring slows, won't stop economic reforms

    By Andrew TorchiaWhen Jordanian security personnel surrounded the central bank last month to oust the governor after a dispute over policy, the incident showed how t...

  1. Oil Steadies Around $109 On U.S. Winter Demand

    Brent crude oil steadied around $109 a barrel on Monday, supported by a weak dollar, supply disruptions and a severe winter across North America that has boosted hea...

  2. U.S. Crude Tumbles on Surprise Build

    U.S. crude oil futures tumbled on Wednesday as a higher-than-expected build in inventories weighed down prices, while unrest in Libya propped up Brent.U.S. Energy In...

  3. Oil Prices Near Six-Month Low

    Brent oil rose above $111 a barrel on Wednesday as unrest in Libya stoked supply fears ahead of northern hemisphere winter demand, but a higher-than-expected build i...

  4. Gold Slides, U.S. Jobs Data Bolsters Dollar

    Precious metals tumbled on Friday, with gold sliding the most in one day since Oct. 17, as surprisingly strong U.S. employment data lifted the dollar.Oil rose as tra...

  5. Syria Agrees to Hand Over Chemical Weapons

    Syria accepted a Russian proposal on Tuesday to give up chemical weapons and win a reprieve from U.S. strikes, while its warplanes bombed rebel positions in Damascus...

  6. Eni Halts Libya Gas Exports To Italy After Local Clashes

    Energy giant Eni SpA (E) has suspended its natural-gas exports from a northewestern Libyan complex following clashes between local militia, amid mounting concerns ov...

  7. Former SNC-Lavalin CEO faces new corruption charges

    The former chief executive of SNC-Lavalin Group Inc , a Canadian construction and engineering company caught in a far-reaching misconduct scandal, faces six new frau...

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