Oil near $100 still a threat to global economy: IEA

KUALA LUMPUR: Oil prices near $100 a barrel are still a threat to a slowing global economy that is likely to consume less fuel than the International Energy Agency (IEA) had forecast, the IEA's executive director said on Tuesday.

Iran Power Declining in Oil Market as Explorers Spend $90 Billion: Energy

The Iran-driven run in oil prices to the highest since 2008 masks the Middle East producer’s diminishing importance to global oil supplies as record spending on drilling unearths reserves from Argentina to Angola.