Category Archives: Rises

Pirate attacks drive up the cost of shipping

Full Story At  msnbc.com LONDON – Shipping your oil across the Gulf of Aden? Don’t forget your piracy insurance. As a ragtag group of gunmen faced off for days against the U.S. Navy near the coast of Somalia before a cargo ship captain was freed Sunday, industry-watchers say shipping companies already smarting from the global [...]

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Oil rises to near $48 as OPEC signals supply cuts

Full Story At news.yahoo.com SINGAPORE – Oil rose to near $48 a barrel Tuesday in Asia after OPEC signaled it will likely announce another production cut within days, adding to large supply reductions the cartel has already implemented. Benchmark crude for April delivery rose 73 cents to $47.80 a barrel by midafternoon in Singapore on [...]

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