Libya is the latest country facing political upheaval as it nears Civil War. Just a week after Egypt’s President Hosni Mubarak ended his 30-year run by resigning amid public unrest, Libya’s leader Moammar Gadhafi is dealing with similar anti-government demonstrations.
Gadhafi spoke out on Tuesday asking those that support the Libyan government to go on the offensive against the demonstrators, now supported by several army units that have defected from the government.
Protestors have reportedly ceased control of much of eastern Libya, which is a rich oil-producing region of the country.
The political …

Oil prices are finishing off a second week of gains Friday (February 4) as the latest round of jobs data is expected to offer hope that the US economy is improving.
Analysts believe that non-farm payroll jobs increased by around 146,000 workers during January, according to a survey of economists. This has led to anticipation that the Labor Department will report that first-time jobless claims fell more than expected last week.
With positive news on the job front, it is widely expected that business and consumer demand for fuel will increase in …

Strong earnings and prices this week from some powerful companies have bolstered optimism in an economic recovery.
Friday (January 21) morning, General Electric said its fourth-quarter net income was $4.5 billion (compared to $3 billion in the same quarter last year), which amounts to $.42 per share (compared to $.28 cents in the same quarter).
These signs of stability have contributed to lower commodities prices to close out the week.
After spending much of the last two weeks above $90 per barrel, light sweet crude futures currently trade at $89.57 per barrel …

Oil prices are pushing higher after reaching the highest mark in two years this week. A barrel of light sweet crude settled at $91.51, up $1.03, on the New York NYMEX Futures board Wednesday (December 23).

Gold prices continue to move to new all time highs with a lower dollar this week. One ounce of gold approached $1,431 in early New York NYMEX trade Tuesday (December 7) morning and currently nets $1,429.40.

Watching oil prices move in the last several months has been like watching grass grow, relative to the highly volatile action during the summer of 2008. Light sweet crude oil futures currently (December 2) trade at $86.65 on the New York NYMEX, just below 2010 highs above $87, and $.10 below Wednesday’s settle price.

After a slightly extended up-and-down effort to take hold of the $1,300 level, gold prices wasted little time moving past $1,400. The Monday (November 8) gold spot rate is $1,406.30 in lunchtime trade on the New York NYMEX.