"The drop in commodity prices during the past year and recent economic and foreign exchange weakness in China and other emerging markets will not tip the global economy into recession," analysts a...
Key oil benchmarks were trading near 6-1/2 year lows, with the US benchmark headed for its eighth straight weekly decline, the longest weekly losing streak since 1986.
Japan's economy, the second biggest in Asia and No. 3 in the world, shrank in the second quarter from a year earlier, adding to fears that slowdowns in Asia's biggest economies will weigh on oil d...
International benchmark Brent regained ground after tumbling 5 per cent on Thursday, when a preliminary nuclear deal was finally reached between world powers and Iran.
Talks between Iran and six world powers to settle a dispute around Tehran's nuclear programme extended beyond a Tuesday deadline.
Estimates by industry group American Petroleum Institute that US crude stockpiles rose over 6 million barrels last week helped drive oil prices lower on Wednesday.
Oil companies have been announcing cuts in exploration and capital spending as the slump in crude prices makes projects uneconomical.
Brent this week dipped to its lowest since May 2009 at $58.50 a barrel due to rising production in US, weak economic growth and OPEC members' decision not to cut output.
The raw materials are among the most sensitive to economic health, with oil and coal the world's two most important energy sources and iron ore used to make steel.
In 2015, global oil demand from OPEC will drop to 29.20 million barrels per day (bpd), almost 1 million bpd less than its current production, the cartel said in its monthly report.
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