oil

Oil slumps as Iran talks deadline looms

Oil prices fell Tuesday as global powers and Iran raced to reach a deal on Tehran`s nuclear program that could ease sanctions on the crude producer, adding to the global oversupply.

Oil prices slip as market eyes possible Iran deal

Oil prices dipped Monday as traders eyed talks between Iran and global powers that could ease international sanctions on one of the world`s leading oil producers.

US benchmark West Texas Intermediate for May delivery shed 19 cents to $48.68 a barrel on the New York Mercantile Exchange.

Oil prices drop on prospect of Iran nuclear deal

Global oil prices sank today as traders mulled a potential deal over key oil producer Iran's controversial nuclear energy programme that could worsen the global supply glut, analysts said.

Politics of Oil: Should oil importers be worried of geopolitical consequences?

A strong US dollar and soft demand has brought down oil prices. But it is improved technology, such as hydraulic fracking, that has brought about abundant supplies of shale oil from the US onto the market, along with the Middle East, which despite conflict, has not budged on supply.

''Arab oil funds helping IS fight war''

 The Sunni jihadi group Islamic State (IS), which controls large territories in Iraq and Syria has been getting financial support from oil-rich Arab sympathisers outside those two countries, a media report said Sunday.

At least 20 hurt in Peru in oil-related protest

Peruvians trying to take control of an Amazon oil drilling installation clashed with police, leaving at least 20 injured and 40 arrested, local media reports said.

Western powers say Libya risks bankruptcy as oil slumps

The United States and five of its European allies on Saturday warned that Libya could face bankruptcy if its oil output and prices on international markets continue to fall.

Petrol crisis forces Pak PM to skip WEF meet in Davos

Pakistan's Prime Minister Nawaz Sharif today had to cancel his trip to Davos to attend the annual meeting of the World Economic Forum (WEF) due to a serious shortage of petroleum in the country which has been plagued by a crippling energy crisis.

Nigeria lowers oil price ahead of presidential vote

 Africa`s largest oil producer Nigeria on Sunday announced a cut in petrol prices, a month before the country votes in presidential and parliamentary elections.

Venezuela's Maduro heads to China to seek financial aid

Venezuelan President Nicolas Maduro begins a trip to China and OPEC member countries in search of financial support as his country reels from falling oil prices and a tattered economy.

First air strikes hit Libya`s militia-held Misrata

Forces loyal to Libya`s internationally recognised government carried out their first air strikes on Sunday against the country`s militia-held third city of Misrata, a spokesman said.

Saudi minister says 'confident' oil prices will improve

Saudi Oil Minister Ali al-Naimi said today he was confident world prices would improve after a slide he blamed partly on "lack of cooperation" by producers outside the OPEC cartel.

Libya Islamists press advance on key oil region

Islamist fighters clashed with pro-government forces for the second consecutive day Sunday as they pressed an advance on a key oil region in eastern Libya, sources on both sides reported.

Super-repellent substance without plastic coatings created

 Scientists have created the most non-stick surfaces yet, using microscopic liquid-repellent structures instead of plastic coatings like Teflon.

Dos and don’ts for your winter skin care!

A little chill in the air and a slight sensation of dryness on the skin – and, we know, winters are here.

Increased global shipping has caused pollution on open seas

 Owing to growing international trade, maritime traffic on the world's oceans has increased four-fold over the past 20 years, causing more water, air and noise pollution on the open seas, says a new research.

Reheating of cooking oil can be harmful for health- Part 2

Reheating of cooking oil can be harmful for health. It can lead to heart disease, cancer and liver failure.

Reheating of cooking oil can be harmful for health

Reheating of cooking oil can be harmful for health. It will lead to heart failure, cancer and liver fail.

Kurds say deal reached awith Baghdad over oil, salaries

 Iraq`s autonomous region of Kurdistan said Thursday it had reached a breakthrough deal with Baghdad in a long-standing dispute over oil sales and salary payments.

Saudi oil minister denies crude price war

Saudi Arabia`s oil minister on Wednesday rejected talk that the country was leading a price war in global oil markets as crude prices continue to sink.