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Oil prices fall on rising US rig count, Illinois refinery outage

CNBC.COM
– Oil prices fell amid a pickup in U.S. drilling activity and the shutdown of a large crude distillation unit in Illinois. Oil prices fell on Monday as drilling activity in the United States picked up and a refinery fire in the U.S. state of Illinois resulted in the shutdown of a large crude distillation unit. Concerns about faltering economic growth curbing fuel demand also weighed on oil markets, traders said. U.S..Read more»

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Why Egypt’s petroleum min expects more FDI into oil sector

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– Tarek El-Molla, Egypt’s petroleum and mineral resources minister, says companies will choose to make investments in countries with three conditions: Stability, a big...

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$60 to $70 is a fair price for a barrel of oil, Egypt’s petroleum minister says

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– There is a fair price for a barrel of oil and OPEC and its non-OPEC partners are close to achieving it through their...

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