U.S. regulators’ $14 million settlement with high-frequency trading firm Optiver over oil price manipulation in 2007 is a “milestone” victory in their toughening stance on market malfeasance which is being closely watched by traders.
Soaring demand for broadband helped Saudi Telecom Co (STC) post a 60 percent increase in first-quarter profit on Wednesday, with the former monopoly reporting rising revenues in its mobile, fixed line, corporate and wholesale units.
Saudi Arabia is likely to maintain high oil production in the event consumer countries release emergency stocks, but it will not seek to lure buyers for more oil by discounting its crude, industry sources said.
U.S. Secretary of State Hillary Rodham Clinton made clear Saturday that time is running out for diplomacy over Iran’s nuclear program and said talks aimed at preventing Tehran from acquiring a nuclear weapon would resume in mid-April.
Over the last two-and-a-half decades, a series of NASA’s Landsat satellites have captured these pictures of the growing agriculture industry in the northern reaches of the Syrian Desert in Saudi Arabia, not far from Jordan.
People are often confused about the overall extent of U.S. oil reserves. Some claim that the U.S. has hundreds of billions or even trillions of barrels of oil waiting to be produced if bureaucrats will simply stop blocking development.