U.S. vs. Saudi Arabia: The Oil War

Saudi Arabia leads the Organization of the Petroleum Exporting Countries (OPEC), launched an economic oil war with the United States in November last year when it decided not to cut its production despite the declining oil prices.

Iraq Follows Saudi Cuts as Brent Slides to 4-Year Low

Iraq will sell its Basrah Light crude to Asia at the biggest discount since January 2009 as it follows Saudi Arabia and Iran in cutting prices amid a slump in Brent futures to the lowest in almost four years.

WTI Crude Set for Biggest Loss in a Week With Brent

West Texas Intermediate crude was headed for its biggest loss in a week as U.S. economic data bolstered the outlook for higher interest rates.

Global stock markets at risk from Black Swan spike in oil price

Global stock markets are at risk from a spike in oil prices which could derail the fragile economic recovery and lead to a major correction in share prices, warns Steen Jakobsen, chief economist at Saxo Bank.

U.S. Oil Futures Reach Two-Week High on Refinery Demand

West Texas Intermediate crude rose to the highest in almost three weeks as strong refinery demand reduced U.S. inventories.

Crude Set for First Weekly Gain in a Month on Ukraine

West Texas Intermediate and Brent crude headed for the first weekly gains in a month after a Malaysian Air passenger jet was downed in Ukraine and Israel sent ground forces into the Gaza Strip.

WTI OIl Rises as Euro Gains on ECB Comment

West Texas Intermediate oil advanced for the first time in four days as the euro strengthened against the dollar.