NEW YORK (AFP) – Oil prices rose sharply Monday as the Israeli-Palestinian conflict intensified and major crude producer Iran said OPEC would hold a special meeting next month.
New York’s main contract, light sweet crude for February, shot up 2.47 dollars to close at 48.81 dollars a barrel.
Brent North Sea crude for delivery in February rallied [...]

Oman will amend its 2009 budget to assume an average oil price of $45 a barrel following a sharp decline of around $100 in international crude prices since July.
Oman’s official news agency said the Persian Gulf Arab oil producer’s council for financial affairs and energy resources agreed at a meeting to amend the oil [...]

COLUMBUS, Ohio – Oil prices tumbled below $50 a barrel Monday as National Bureau of Economic Research reported that the U.S. economy has been in a recession since December 2007 and the Dow Jones industrial average fell nearly 700 points.
A tandem of bleak economic reports led to an early decline even before the NBER report [...]

By PABLO GORONDI, Associated Press Write
Oil prices were down but recovering from earlier lows Tuesday, after surging overnight, as investors weighed the U.S. government’s new efforts to deal with the financial crisis against fresh evidence of the economic downturn.
The U.S. Federal Reserve said Tuesday it would buy up to $600 billion in mortgage-backed assets, [...]

SINGAPORE – Oil prices fell below $54 a barrel Tuesday in Asia after surging overnight as investors mulled whether a U.S. government bailout of Citigroup Inc. restores enough confidence to staunch crude’s 64 percent slide since July.
Light, sweet crude for January delivery was down 61 cents to $53.89 a barrel in electronic trading on the [...]

By PABLO GORONDI, Associated Press Writer
Oil prices fell below $56 a barrel Monday as news that Japan fell into recession highlighted investor fears that a global economic slowdown will hurt crude demand.
By midday in Europe, light, sweet crude for December delivery was down $1.23 to $55.81 a barrel in electronic trading on the New [...]

LONDON (AFP) – Oil prices steadied on Thursday after falling close to 50 dollars a barrel in London trade as the International Energy Agency warns of sliding energy demand around the globe.
With prices tumbling to the lowest levels in almost two years and down almost two-thirds in value compared to record highs of above 147 [...]

By Anthony DiPaola and Fred Pals
Nov. 3 (Bloomberg) — Royal Dutch Shell Plc, Europe’s largest oil company, signed a memorandum of understanding with Abu Dhabi that may lead to deep-offshore gas exploration.
It’s too early to estimate potential reserves, Shell’s Head of Exploration Malcolm Brinded said today in an interview in Abu Dhabi. “Shell hopes [...]

Sam Coates, Chief Political Correspondent
Gordon Brown will arrive in the Gulf today to ask oil-rich states to use their vast wealth to steady the fragile world economy and to boost British business.
The day after Barclays raised £5.8 billion from funds in Abu Dhabi and Qatar, to avoid taking money from the Treasury, the Prime Minister [...]

Dorian Merina, The Jakarta Post, Jakarta
On Tuesday, President Susilo Bambang Yudhoyono indicated he would consider a request from the House of Representatives to cut fuel prices as global oil prices continue to fall.
But while politicians discuss how and when to subsidize prices for jittery consumers, some in the energy sector are seeing an opportunity for [...]