Oil prices dropped below $129 a barrel. The sharp decline came amid a growing sense that soaring gas and oil prices have cut demand for fuel during the normally busy summer driving season. At the pump, retail gasoline prices rose, but only slightly.
Light, sweet crude for July delivery fell $3.34 to settle at $128.85 a [...]

In a report to be released Tuesday, London-based New Finance Energy says increased biofuels production is not a primary culprit behind rising food prices.
The study looks at food price increases from 2004 to 2008 and factors such as input costs, dollar depreciation, supply and demand, and speculative activity. It finds that growing emphasis on biofuels [...]

French energy group Suez said on Friday that it had ended talks with British Energy about buying the partly-privatised group, adding that its priority was merging with state gas group GDF.
“As previously indicated, the completion of the merger with Gaz de France remains Suez’s key priority,” said a statement released to the London Stock Exchange.
“Accordingly, [...]

AUGYVA MINING RESOURCES INC. is pleased to announce the signing of an option and joint venture agreement (the “Agreement”) with Canadian Century Iron Ore Corporation (”Century”) defining the terms to allow Century to earn up to a 65% interest in the Company’s Duncan Lake Iron Property (”Duncan” or the “Property” or the “Project”) by funding [...]

Wall Street tumbled Tuesday after oil prices spiked to a new record above $129 a barrel and a government report raised investors’ concerns about the impact of inflation on consumer spending. The Dow Jones industrials fell nearly 200 points.
Crude jumped after OPEC’s president was quoted as saying his organization won’t raise its output before its [...]

OAO Severstal, one of the world’s leading metals and mining companies, today announced that it has reached a binding agreement to purchase WCI Steel, a market leader in the production of value-added steel products based in Warren, Ohio.
According to the terms of the agreement, Severstal will acquire all outstanding equity of WCI for a total [...]

World oil prices eased further on Tuesday, trading near 123 dollars a barrel as profit taking helped to cool a red-hot market, analysts said.
Crude oil prices have more than doubled in the past year and rocketed about 25 percent since the start of 2008, when they broke the 100-dollar barrier.
“Oil prices have simply risen too [...]

The price of crude oil struck a record high 126.40 dollars a barrel on Monday amid tensions in the Middle East and ongoing supply fears in Nigeria, traders said.
New York crude beat its all-time peak of 126.27 dollars, reached last Friday.
Later Monday, New York’s main oil futures contract, light sweet crude for June delivery, stood [...]