Crude oil soared as Iran will not abandon its nuclear program

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Source: Forexpros
Crude oil price surged during Asian trade on Monday as Iran announced it would not discontinue its nuclear program that, it claims, serves civil purposes. However, growing OPEC supply and persistent Euro Zone woes capped the upswing. Light, sweet crude oil for July delivery traded at 92.03 US Dollars per barrel on the New York Mercantile Exchange, gaining 0.25%.


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Mon, 21 May 2012 08:11:40 GMT

Alibaba repurchases a half of Yahoo stake

Yahoo announced that it agreed to sell half of its 40% stake back to Alibaba. Yahoo will raise about 7.1 billion US Dollars from the deal. Alibaba will pay 6.3 billion US Dollars in cash and 800 million US Dollars in preferred stock. The agreement will allow Alibaba to think about IPO while Yahoo will be able to buy back

Mon, 21 May 2012 07:49:42 GMT

Gold continued its rally on hopes for easing measures in the US

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