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U.S. oil stocks fall unexpectedly, fuels rise: EIA: NEW YORK - U.S. crude oil stocks fell unexpectedly last week on higher demand from refiners while refined fuels stocks logged surprise gains, Energy Information Administration weekly data showed on Wednesday. Commercial crude oil inventories in the United States fell 700,000 ...

Oil flat near $40 after drop on shares, inventories: SINGAPORE - Oil stood little changed around $40 a barrel on Thursday, after falling the previous day on lower share prices and after data showed U.S. crude inventories rose under the weight of an economic slowdown. Crude stocks in the world's top energy consumer jumped by 7.2 ...

Oil rises 3 percent on U.S. cold snap: PERTH - Oil rose 3 percent toward $39 a barrel on Wednesday, as OPEC kept up its talk of production cuts and a cold snap in the United States boosted heating oil demand. Top exporter Saudi Arabia said on Tuesday it was prepared to go even further than cuts it had made since ...

Wall St Santa rally small comfort after grim year: Wall Street entered the Christmas holiday in subdued mood on Wednesday, posting a modest Santa Claus rally, as investors digested more gloomy data on the economy and, with just four trading days left in 2008, began to take stock of a torrid year. The crisis that started in the US ...

China sees imports at 60 pct of oil use by 2020: BEIJING, Jan 8 - China will become increasingly reliant on imports for its growing oil demand as domestic production sees no big breakthrough in the years ahead, a report by the Ministry of Land and Resources said. The prospect may fan expectation that the world's second largest ...

Oil drops nearly $1 on economic gloom: NEW YORK - Oil prices fell 2.2 percent on Thursday as deepening economic gloom and soaring crude inventories in the United States eclipsed geopolitical tensions that have put world supplies at risk. The decline followed Wednesday's 12 percent drop, which marked the biggest daily ...

Oil falls 2 percent on U.S. unemployment data: NEW YORK - Oil prices fell 2 percent on Friday after data showing a big rise in U.S. unemployment deepened the gloomy outlook for the world's biggest oil consumer. U.S. crude for February delivery settled down 87 cents at $40.83, with late short-covering pulling prices above ...

Russia Kudrin says zero oil export duty premature: MOSCOW - Slashing Russia's oil export duty to zero would be premature since the plan, sought by the oil industry, does not take into account a weakening rouble, Finance Minister Alexei Kudrin said on Saturday. Russia, the world's second-largest oil exporter, is likely to slash 38 ...

Oil falls as economic gloom outweighs OPEC: NEW YORK - Oil fell 2 percent on Tuesday as worries about shrinking global energy demand countered a U.S. Federal Reserve interest rate cut and expectations OPEC will reduce supplies further. Oil ministers from the Organization of the Petroleum Exporting Countries were near a ...

Oil prices ready to recover after $100 fall: LONDON - Oil's collapse by more than $100 a barrel has made July's all-time high above $147 seem a distant memory but many analysts now expect a rebound and say crude's bear market may prove to have been exceptionally brief. Oil prices could already have hit rock-bottom for 2008 ...

U.S. crude oil stocks drop unexpectedly: EIA: NEW YORK - U.S. crude stocks posted a surprise drop last week, government data showed on Wednesday, and analysts cited higher refinery operations and disruptions to imports due to fog on the Gulf Coast. However, the Energy Information Administration report also showed another ...

Oil falls below $46 near four year lows: SINGAPORE - Oil fell below $46 a barrel to near four-year lows on Thursday, extending four consecutive days of falls as continued demand worries minimized bullish draws in U.S. oil stocks. Oil prices have lost more than $100 a barrel since an all-time high of $147.27 hit in July, ...

OPEC needs unity quickly to stem oil's slump: LONDON - Oil's fall further below Saudi Arabia's "fair price" of $75 a barrel will increase pressure on OPEC to set aside any differences and cut supply further when it meets later this month. The market slid nearly $5 to below $50 a barrel on Monday after OPEC at the weekend ...

Oil leaps 9 percent as OPEC, equities support: NEW YORK - Oil surged 9 percent to over $54 a barrel on Monday on expectations that OPEC will cut output again and as stock markets rallied off the U.S. government's plan to rescue U.S. bank Citigroup. U.S. crude rose $4.57 to settle at $54.50, while Brent crude settled up $4.74 ...

Yen drops on Nikkei rise, oil gain helps euro: TOKYO - The yen fell broadly on Thursday as a rise in Tokyo share prices and growing expectations the Bank of Japan could cut interest rates this week prompted investors to take profits on the Japanese currency's surge this month. The euro rose against the dollar, rebounding ...

Oil dips below $63 as faltering demand trumps OPEC: NEW YORK - Oil prices dipped below $63 a barrel on Tuesday as concerns about faltering demand offset OPEC comments suggesting the producer group could throttle back output again to support prices. U.S. crude settled down 49 cents at $62.73 a barrel, before rising to $64.10 in ...

Oil drops near 6 percent on slumping demand: NEW YORK - Oil fell nearly 6 percent on Monday as further indicators of falling demand linked to a potential recession offset OPEC plans to reign in output. U.S. crude settled down $3.90 at $63.91 a barrel, after October saw the steepest monthly price decline ever for oil as ...

Will oil prices sink to US$50 a barrel as global recession sets in next year?: Weakening demand and continuous build up of oil stocks has undone most of the previous price predictions. Merrill Lynch has revised its earlier forecast of US$107/barrel of oil in Q4, to US$78/barrel, adding that a global recession next year could plummet oil prices to US$50 a ...

Oil jumps 10 percent on Saudi supply cuts: NEW YORK - Oil prices jumped more than 10 percent on Tuesday on signs Saudi Arabia and other OPEC members had made cuts in crude exports and as global financial markets rallied ahead of the U.S. election result. Saudi Arabia has reduced exports after the Organization of the ...

Crude futures surge above $70 on weak dollar, production cut: NEW YORK -- Crude futures surged above 70 U.S. dollars a barrel Tuesday on weak dollar and Saudi Arabia's move to cut production. Light, sweet crude for December delivery rose 6.62 dollars to settle at 70.53 a barrel on the New York Mercantile Exchange after rising as high as 71...

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China slams Japan's NHK governor's denial of Nanjing massacre: BEIJING, Feb. 5 (Xinhua) -- China on Wednesday slammed the remarks of ...

Bill Gates talks nuclear: Microsoft co-founder Bill Gates confirmed on Wednesday that he is ...

China's reform leading group holds first meeting: BEIJING, Jan. 22 (Xinhua) -- China's leading group for overall reform ...

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finance

Reforms to fuel Shanghai's growth in 2014: BEIJING, Jan. 27 (Xinhuanet) -- Shanghai's financial sector grew 13.7 ...

Economist sees world economy strengthening in 2014: NEW YORK, Jan. 24 (Xinhua) -- Global economy is likely to gain ...

Xinhua Feature: World's political, business leaders gather in Davos for WEF: DAVOS, Switzerland, Jan. 22 (Xinhua) -- The snow-covered Swiss town of ...

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Chinese leader calls for more marine power: Chinese Vice Premier Zhang Gaoli Sunday called for research in polar ...

Court rejects Apple lawsuit over iPad name: Shenzhen Municipal Intermediate People's Court has rejected a lawsuit ...

Super car club in commercial drive: On the night of Nov 11, more than 150 super cars were driven into the ...

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sports

Fourteen countries expected to compete in Cuba's wrestling tourney: Some 14 countries and regions are expected to compete in the 45th ...

Yao's gift of sport for all: Chinese NBA player Yao Ming teaches a boy with special needs how to ...

Stars 'Big Three' fall short of title in 1st year: Miami Heat's LeBron James (R) stands with teammates Chris Bosh (C) and ...

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