Oil prices tank as oversupply worries dominate

New York (AFP) - Oil prices slumped Tuesday as resurgent worries about the global supply glut combined with a sharp dollar rally.US benchmark West Texas Intermediate for delivery in June shed $2.25 to finish at $57.99 a barrel on the New York Mercantile Exchange.

World Awash in Oil Shields Markets From 2008 Price Shock

Fighting across Iraq, Libya, Ukraine and Gaza, and an accelerating economy, should mean higher oil prices.

Libya Vows to Block Tanker Attempt to Lift Oil in Rebel Port

Libya’s government vowed to prevent a tanker from leaving a rebel-held oil port as it struggles to reassert control over the nation’s main revenue source.

Iraq to lower oil targets with foreign firms: Minister

BAGHDAD: Iraq is in talks with foreign energy firms to lower long-term oil production targets agreed several years ago because of sagging global crude demand forecasts, the country's top energy official told AFP.

Tighter oil market will boost unloved energy stocks - Investec

LONDON (Reuters) - A tighter oil market in the second half of 2013 will boost some energy stocks, which have trailed the rest of the equity market though the rally, said Charles Whall, co-manager of Investec (LSE: INVP.L - news) 's $1 billion-plus energy fund.

Oil prices could be rigged by traders warns G20 report

A report commissioned by the G20 group of the world's biggest economies has warned oil prices could be vulnerable to a Libor-style rigging scandal.

Oil prices fall to below $85 a barrel in Europe

Oil fell below $85 a barrel Thursday on expectations of just a small rise in global demand for crude in 2013 and as signs of slowing global economic growth offset hopes that central banks will soon implement stimulus measures.

Oil down near $86 after Europe, China rate cuts

SINGAPORE (AP) — Oil fell to near $86 a barrel Friday in Asia amid doubts that Europe and China's interest rate cuts will be enough to halt an economic slowdown.

Oil sanctions on Iran loom despite talks

NEW YORK (CNNMoney) -- The latest round of talks over Iran's nuclear program are set to begin Monday in Moscow, but analysts are not expecting a breakthrough that would avoid sanctions in coming weeks.

G-8 Leaders to Discuss Oil Market as Iran Embargo Nears

The impact on oil prices from sanctions on Iran will be on the agenda when President Barack Obama meets with other leaders of the Group of Eight nations, National Security Adviser Tom Donilon said.

Brent oil rises on risk outlook, Spain auction

LONDON (Reuters) - Brent crude oil gained on Thursday, bouncing from a two-month low set the previous session, as a Spanish bond auction attracted strong investor demand, alleviating some concerns about the health of the euro zone economy.

Barack Obama cracks down on oil traders

Barack Obama pledged to put more "cops on the beat" to oversee the oil market, as he went on the offensive with a range of curbs to stop traders from driving the oil price higher.

The oil market is warming up

The global economy remains vulnerable to steep rise in crude oil prices, which would raise business costs and hammer consumers.

Oil hovers at $100 ahead of key US jobs report

SINGAPORE (AP) — Oil prices hovered above $100 a barrel Friday in Asia as traders awaited a U.S. jobs report for evidence about the strength of the U.S. economy and demand for crude.

IEA expects lower global oil demand for 2011/12 on downward growth

PARIS, Oct. 12 (Xinhua) -- The International Energy Agency on Wednesday revised down global oil demand projection for 2011 and 2012, based on "lower-than-expected" third quarter readings in the non-OECD area and a downward global growth assumption.

In its new oil market report, the Paris-based IEA put global oil demand down by 50,000 barrels per day (bpd) to an average of 89.2 million bpd for 2011, and down by 210,000 bpd to 90.5 million bpd for 2012.

Global oil stocks release seen on halt for now

(Reuters) - Developed nations are unlikely to release more oil on to the market in coming days, a month after the first release failed to curb oil prices to help protect the global economic recovery, officials and analysts said.

The energy watchdog for industrialized nations, the International Energy Agency, shocked oil markets last month by announcing a release of 60 million barrels of oil and products to offset the loss of Libyan production.