After months of relative silence, sovereign wealth funds, the huge, state-owned vehicles that export-rich countries use to invest their reserves, are on the prowl again.
Oil prices fell Wednesday after a government report showed crude supplies rose more than double what was expected.
CNNMoney: Oil rallies above $50updated: Thu Apr 09 2009 14:58:00
Oil prices followed the stock market higher Thursday after Wells Fargo released a bright earnings outlook.
Oil prices ended the session higher on Tuesday, just shy of the $50 a barrel threshold, as a Wall Street rally picked up steam late in the trading day.
If you want to know why the current spike in unemployment is as painful as it is, look no further than the problems in the housing and stock markets.
Oil prices jumped Friday by the largest amount in a single-day since the end of 2008 as a $787 billion stimulus bill designed to jump-start the economy moved one step closer to full congressional approval.
Oil prices fell more than $4 a barrel Tuesday as worries about a recovery in demand took center stage amid heightened concern that the global recession will continue to drag on.
Oil prices dipped a bit Wednesday after the government's weekly supply report and fresh recession concerns continued to chip away at demand.
Oil prices bounced back above $80 a barrel Monday after a group of European countries tried to restore economic confidence by promising to bail out major banks.
Crude prices didn't move much on Friday after the House of Representatives passed a bailout plan to shore up the nation's financial system, which could help restore demand for oil.
The Bush administration wants to help beleaguered financial institutions - and prevent the financial crisis from getting worse - by spending $700 billion to buy up troubled mortgage securities.
Business activity in the service sector contracted for the second straight month in July, although at a slower rate than in June, according to a key survey of industry executives released Tuesday.
Oil turned higher Thursday as economic jitters and a stock market selloff drew investors.
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