oil prices

Blast thought to have been caused by gas leak or faulty machinery leaves at least 25 dead and 100 trapped under debris.

Small commercial plane forced to make emergency landing nearly three weeks ago.

One-off deal could make China a major player in Canada's oil sector.

As oil-rich Venezuela goes to the polls to elect a new president, violence remains a major worry.

The Fed's announcement of QE3 cheers stock, commodities and bullion markets. Oil records four-month high and gold hits six-month high.

Iran said to be in talks to sell around two million barrels of oil to Egypt.

Iran has reacted strongly to UK Foreign Secretary's call for further sanctions to force Iran to abandon its nuclear policy.

Canada breaks off diplomatic relations, branding Tehran a major threat to world peace.

Iranian President Mahmoud Ahmadinejad, however, concedes that sanctions have badly hit country's economy.

South Sudan became independent about a year ago and numerous issues such as disagreements over border issues and oilfields remain unresolved.

Iranian Foreign Minister Ali Akbar Salehi seeks more engagement than confrontation with the EU.

Prices might zoom to $160 per barrel post sanctions. In February prices touched $110 a barrel because of tension in the Strait of Hormuz.

Apart from eurozone crisis, the summit concentrated on a whole range of issues including Afghanistan and Iran.

Leaders stress importance of cohesive eurozone and the need for Greece's continuation in the bloc.

From the eurozone crisis to Afghanistan, Syria and rising global oil rises are likely to figure at the summit.

Shale gas explorer Cuadrilla has found more natural gas in the UK shale rocks than in Iraq.

According to Shore Capital, BG Group is likely to be the major British large-cap gaining from rising oil prices as integrated oil peers 'struggle for the same degree of leverage' to the rising cost of crude.

There are fears that in Asia inflation might return due to higher energy prices, food and wage costs as crude oil prices are expected to range between $125 to $128 per barrel. However, though oil prices are high in absolute terms, Brent crude prices are only 10% higher than a year ago and food prices are still comparitively lower than the previous year.

The UK, the US and France are in favour of a strategic oil release.

British gas prices fell on fears of slump in demand as much as 13 percent on Thursday below the seasonal norms and also due to weak global economic data, which drew down the wider energy complex, including British gas futures.

Tullow Oil, an independent oil and gas company, announced that it has successfully encountered oil in very good quality sandstone reservoirs in the Enyenra-4A appraisal well, in the Deepwater Tano licence offshore Ghana.

Scientists from the University of Bristol in the UK have created a soap infused with magnetic characteristics that can separate oil from spills in water and absorb the former.