Oil price 'grounds' N Korea fleet
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North Korea grounds a fleet of Soviet-era military planes because of the high oil price, South Korea's Yonhap says.
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Oil prices rise to hover around $61 a barrel, following a severe snow storm in the US and increasing tensions with Iran.
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Oil prices slid to fresh six-month lows   on Wednesday on rising winter fuel stocks and waning concern   over Iran, but the world's largest exporter Saudi Arabia   signaled the market may have fallen enough.
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The owners of two ships involved in South Korea's worst oil spill are charged with breaking pollution laws.
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North Korea on Sunday accused Japan of using anti-terrorism moves as an excuse for militarism which put the Korean peninsula at risk of invasion.
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A tanker carrying fuel oil docked at a North Korean port on Saturday under a deal by six countries on shutting down the communist state's nuclear reactor, South Korea's Unification Ministry said.
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Singapore: Oil prices continued falling from record peaks in Asian trade Thursday after the United States reported a surge in crude oil inventories, dealers said.
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As oil prices keep setting new record highs, there are growing concerns that Asia's energy-hungry economies can no longer continue absorbing the impact with crude creeping toward 60 dollars a barrel.
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World oil prices have shot to record highs as concern grows about even more expensive fuel at the petrol pumps. In London, Brent North Sea crude oil for delivery in November surpassed $50 a barrel for the first time in the contract&#39;s 16-year history.
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World oil prices surged nearly $2 on  Friday on worries the stormy season in the Gulf of Mexico would  continue to hamper energy production and imports, delaying  vital stock building ahead of the coming winter months.
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By Malcolm Moore, Economics Correspondent (Filed: 12/10/2004). Striking oil workers in Nigeria and Norway yesterday drove the price of oil past the $50 a barrel threshold for the first time in London.
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The price of oil rose to a record $47 a barrel in New York on Wednesday on jitters about supplies from Iraq and Russia&#39;s Yukos, before the release of a report that could show a third straight weekly drop in US inventories.
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NEW YORK : World oil prices raced to new record highs and then skidded as the Norwegian government announced it would intervene to end industrial strife in the huge oil sector.
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World crude prices have risen amid fears that supplies from the oil-rich Gulf of Mexico could be disrupted by Hurricane Ivan. Energy companies have evacuated thousands of offshore workers and shut down some production in the region.
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Oil firmed almost $1 to above $97 a barrel on Friday, within sight of its record high, bolstered by a fall in U.S. fuel inventories and mounting tension in Pakistan and northern Iraq.
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Prices were pushed higher by news on Sunday that Yukos had suspended delivery of 400,000 metric tons a month, or nearly 98,000 barrels a day, of rail-borne crude oil exports to China National Petroleum Co.
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Crude oil prices hovered close to their all-time high of US$53.80 in Asia on Tuesday, fueled by continuing worries over supply in Nigeria and reduced output in the hurricane-hobbled Gulf of Mexico.