Saturday 2 August 2014

Brent dips toward $107 as supplies weigh

Oil prices slipped for a second session on Tuesday, with Brent edging down toward $107 a barrel, as ample supply offset geopolitical tensions in the Middle East, Africa and Europe. Despite conflicts in Ukraine, Iraq and Libya, global oil production has exceeded demand, leaving po


Israel continues Gaza pounding, digs in for long fight

Israel's military pounded targets in the Gaza Strip on Tuesday after Prime Minister Benjamin Netanyahu said his country needed to be prepared for a long conflict in the Palestinian enclave, squashing any hopes of a swift end to 22 days of fighting. In the latest development,


Russia ordered to pay $50bn in Yukos case

The Hague's arbitration court ruled on Monday that Russia must pay a group of shareholders in defunct oil giant Yukos around $50 billion for expropriating its assets, a big hit for a country teetering on the brink of recession. The Hague court said it had awarded shareholders


US-Israeli tensions rise as Gaza hostilities subside

Israel sees no need for another Gaza ceasefire, an Israeli official was quoted as saying on Monday, as tensions between Prime Minister Benjamin Netanyahu's government and Washington flared over US mediation to end the almost three-week-old war.


Hamas agrees to new 24-hour truce in Gaza

Hamas Islamist militants have agreed to a 24-hour humanitarian truce in their conflict with Israel in the Gaza Strip, a spokesman for the group said on Sunday, hours after fighting between the sides resumed.   "It has been agreed among resistance factions t


Hamas rejects truce; more fighting breaks out

A humanitarian truce in the Gaza Strip collapsed on Sunday after a barrage of rockets fired by Palestinian militants was met with fierce Israeli shelling, in a fresh setback to efforts to secure a permanent ceasefire. Israeli tanks and artillery army pounded targets along the coa


Destroy Hamas? Worse 'could follow'

A top Pentagon intelligence official has warned that the destruction of Hamas would only lead to something more dangerous taking its place, as he offered a grim portrait of a period of enduring regional conflict. The remarks by Lieutenant General Michael Flynn, the outgoing head


Israel extends truce for 24 hours, Hamas rejects terms

Israel extended a humanitarian ceasefire in the Gaza Strip for another 24 hours, but Hamas, which dominates the coastal enclave, said it would only accept the truce if Israeli troops left the territory. Israeli ministers had signalled that chances were remote for a comprehensive


Israel 'inclined' to extend Gaza truce

Israel is leaning towards extending a 12-hour truce agreed with Hamas and other Palestinian militant groups in the Gaza Strip, an Israeli government source said on Saturday. "As far as Israel is concerned, there is no reason to prevent Gaza's people from stocking up on s


US pulls embassy staff from Libya

The United States evacuated its embassy in Libya on Saturday, driving its staff under heavy military guard across the border to Tunisia because of escalating clashes between rival militias in Tripoli, the US State Department said. Security in the Libyan capital has deteriorated f

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