Libya

Recent turmoil in the Middle East has contributed to a surge in oil prices. While prices began to march upward in the last several months on the back of improving global economic conditions, threats that a supply disruption coming from a strategically important oil producing country sent prices higher by more than 10 percent in just the last week.

Shares in British banks were down on the FTSE 100 in morning trading after RBS issued somewhat disappointing full year results for 2010.

Shares in British banks were broadly down on the FTSE 100 in morning trading as political violence and unrest continued to engulf the oil rich nation of Libya.

On 17 December 2010, a Tunisian street vendor named Mohamed Bouazizi, set himself on fire because a female municipal official and her aides had had his goods confiscated. This sparked protests against the Government for a variety of grievances, social, economic and political.

The chaos and violence currently ravaging Libya has raised questions about the conduct of Britain and especially its former Prime Minister, Tony Blair, towards a regime that now stands accused of killing 400 of its own citizens.

Shares in British banks were down on the FTSE 100 in morning trading as political unrest in Libya escalated over the weekend.

Koreans are going hostile after Dana Petroleum, a British FTSE 250 company that has refused a bid for its oil and gas exploration in the North Sea and Africa.

Greenpeace protestors descended upon BP petrol stations bearing signs and placards today in response to the news that the energy group would be replacing its CEO Tony Hayward with Robert Dudley, following months of controversy and criticism over his response to the ecological disaster caused by the oil spill in the Gulf of Mexico.

Arab TV network, Al-Jazeera has confirmed that a cargo plan carrying no passengers has crashed, leaving the pilots hospitalised.

Shares in BP continued rising on the FTSE 100 today after increased speculation that the oil giant is seeking support from sovereign wealth funds to save it from a takeover, as it deals with the disastrous oil spill in the Gulf of Mexico.