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 [...]

Diavik Diamond Mines Inc. (DDMI), operator of the Diavik Diamond Mine, is pleased to provide this first quarter update.
Diavik continued to build on its strong safety record with zero lost time injuries, two medical treatments and an all injury frequency rate of 0.37 during the first quarter of 2008. DDMI was notified that for its [...]

World oil prices were slightly lower in Asian trade on Monday after fresh unrest in Africa’s biggest crude producer, Nigeria.
New York’s main oil futures contract, light sweet crude for June delivery, was 13 cents lower at 116.19 dollars per barrel.
The benchmark contract rallied 3.80 dollars to close at 116.32 dollars on Friday at the New [...]

Xstrata has jumped back into the global merger frenzy. It emerged yesterday that the miner is the mystery bidder that forced Macarthur Coal, Australia’s largest independent coal producer, to announce 10 days ago that it had been approached about a possible takeover.
Macarthur and its top two shareholders, who it admitted had also been approached, have [...]

Cheniere Energy, Inc. today announced the opening of its Sabine Pass LNG receiving terminal and interconnecting Creole Trail Pipeline with an on-site ceremony in Cameron Parish, Louisiana.
“The opening of the Sabine Pass LNG terminal and pipeline represents a milestone event for the company,” said Charif Souki, chairman and CEO, Cheniere. “It is the culmination of [...]

Leases on vast state-owned coal tracts in southeastern Montana will be offered for bid by the end of the year, but possibly not in time to fulfill an investment bank’s request for an expedited timeline, state officials said.
A London-based bank, Rothschild, had requested the state put the Otter Creek coal tracts near Ashland up for [...]

Halliburton Co. is thinking about buying U.K.-based Expro International Group PLC in an all-cash deal.
Halliburton confirmed talks with Expro after a private equity consortium led by London-based Candover Group said it will buy Expro for $3.2 billion.
In a statement, Halliburton said its cash offer would top Candover’s but gave no specifics.
Expro provides services and products [...]