Petroleum industry
Chinese central bank's interest rate hike sent oil prices tumbling as concerns over slowing economic growth and oil demand in the world's second-largest oil consumer mounted. The benchmark interest rate increase was the country's latest bid to temper inflation, causing market watchers to reassess
Petroleum industry
CME Group, the world's leading energy marketplace, announced the introduction of two new Brent crude futures crack spreads, set to be listed with implied functionality on CME Globex for trade date on March 28, 2011. These new crack spreads will enable market participants to hedge benchmark RBOB Gasoline
Petroleum industry
The Indian government today hinted that petrol and diesel prices are unlikely to be hiked in haste, even though global crude oil prices continue to rule at $110 a barrel. State-run oil companies, Indian Oil Corp, Hindustan Petroleum, and Bharat Petroleum, are currently selling petrol at a discount of about
Petroleum industry
Investors shrugged off disappointing data showing a decline in orders for durable goods and a continued rise in oil, driven higher by strife in Libya and other Middle East countries. The rally was fueled by a surge in energy and commodity markets, with oil prices reaching new highs. Despite the
Petroleum industry
Rosneft Oil, Russia's largest oil company, is considering partnering with China and India to develop the Arctic continental shelf, a strategic move that could unlock significant oil reserves. The joint development project is part of Rosneft Oil's effort to expand its presence in the Asia-Pacific region,
Petroleum industry
In the aftermath of the BP oil spill in April 2010, the Louisiana Tourism Coastal Coalition (LTCC) partnered with WSI, a leading Internet marketing franchise, to develop a digital marketing strategy to revitalize the state's tourism industry. The collaboration aimed to mitigate the significant economic losses resulting from
Petroleum industry
Cancer researchers have discovered a new concept that uses membrane-active peptides derived from Bax to induce apoptosis in cancer cells. The peptides, which are based on a minimal active version of Bax, are able to directly induce the release of mitochondria-residing apoptogenic factors, committing tumor cells to caspase-dependent apoptosis. This
Petroleum industry
As the world's fifth-largest importer of oil, India continues to do business with Libya, despite the international community's growing pressure on Colonel Muammar Gaddafi's regime. While global oil majors and Wall Street banks have stopped trading crude with Libya, state-run oil companies in India,
Petroleum industry
U.S stocks surged during midday trading after oil prices retreated from a 29-month high, leading investors to be more confident in the global economic growth outlook. Bank of America's announcement that its mortgage business unit is recovering also boosted investor sentiment, as shares of the company rose
Petroleum industry
Rising oil prices and unrest in the Middle East and North Africa have sent stocks firmly into negative territory, despite a smaller-than-expected increase in non-farm payrolls and a decline in unemployment to its lowest rate since April 2009. The Dow and S&P 500 are up on the week,
Petroleum industry
Representative Peter Welch, a Democrat from Vermont and member of the Energy and Commerce Committee, suggested releasing oil from the Strategic Petroleum Reserve to combat the rising oil prices and mitigate their impact on the American people. Welch credited previous releases by Presidents Bush and Clinton, which resulted in significant
Petroleum industry
Copper prices surged significantly as investors began to believe that the impact of higher oil prices on demand would be minimal. The March delivery contract on the Comex division of the New York Mercantile Exchange rose 10.95 cents, or 2.5%, to settle at $4.4360 a pound. Analysts
