Crude oil advances after Fed comments

Note: This section contains information in English only.
Source: Forexpros
Crude oil futures were marginally higher during Asian trade on Tuesday, being buoyed after the Chairman of Fed, Ben Bernanke, hinted on loosening monetary policy in the US in view of weak job market. Light sweet crude oil futures for May delivery traded at 107.05 US Dollars per barrel on the New York Mercantile Exchange, gaining 0.02%.


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Tue, 27 Mar 2012 07:47:55 GMT

Rio Tinto to abandon diamond operations

Rio Tinto is reviewing its diamond operations and is looking for the options to cease its activities in three mines in Canada, Australia and Zimbabwe. The diamond business contributes below 5% of the total company's revenues, confronting to the company's strategy that implies investing  heavily in expandable and long-life assets, said Harry Kenyon-Slaney, chief executive of diamonds and minerals division

Mon, 02 Apr 2012 09:10:13 GMT

Bernanke: Fed to 'remain cautious'

Ben Bernanke, chairman of Fed, hinted that the central bank of the US is likely to continue its economy-stimulating measures, citing overall weakness of the US job market despite increased hiring in the last three months. He also claimed that Fed has to 'remain cautious', which was interpreted by many analysts as a sign of maintaining record low interest rates

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