Rising Oil Prices Push Gas Prices Up

2010-03-09T13:34:08Z

OAKLAND, CA - MARCH 09: Gas prices over $3.00 per gallon are displayed on a sign at a Shell gas station March 9, 2010 in Oakland, California. Gas prices have increased 5 cents in the last week to bring the national average for a gallon of regular unleaded to over $2.75. (Photo by Justin Sullivan/Getty Images)

Energy Dept. still sees $3-plus gasoline coming

2010-03-09T13:30:24Z

<div id="subtitle">Energy Department holds to pump prices above $3 for spring and summer driving seasons</div><div><p>The Energy Department hasn't changed its mind about higher gasoline prices. It still expects pump prices to climb past $3 per gallon as more motorists hit the road in the spring and summer driving seasons.</p><p>In its monthly short-term energy outlook report, the...

Oil settles lower, ending brief rally

2010-03-09T12:48:31Z

<div id="subtitle">Crude slides back as stronger dollar and demand concerns reverse recent gains</div><div><p>Oil prices trimmed some early losses, but still ended lower Tuesday, after rising steadily since the end of last week.</p><p>Benchmark crude for April delivery lost 38 cents to settle at $81.49 per barrel on the New ...

US to expose trade barriers in new report: official

2010-03-09T12:17:57Z

<div><p>The United States will expose "troublesome" trade barriers erected by countries as part of stepped-up enforcement, President Barack Obama's top trade official said Tuesday.</p><p>"Unfair" non-tariff barriers imposed on farm exports will also be identified in a new report this month, US Trade Representative Ro...

Britain's trade deficit widens

2010-03-09T11:30:30Z

<div id="subtitle">Britain's trade deficit widens unexpectedly in January, puts pressure on pound</div><div><p>Britain's trade deficit with the rest of the world widened unexpectedly in January after lower sales of chemicals and other commodities led a drop in exports.</p><p>The trade gap in physical goods widened to 7.99 billion pounds ($12 billion), well above the 7 billion pounds forecast by analys...

Malaysia eyes growth in palm oil exports for 2010

2010-03-09T11:16:21Z

<div><p>Malaysia, the world's second-largest palm oil producer, said Tuesday it expects exports to rise in 2010 thanks to higher prices and an increase in the amount of land devoted to the commodity.</p><p>"Yes, we can surpass last year's exports," plantation industries and commodities minister Bernard Dompok told reporters on the sidelines of a palm oil industry ga...

Brazil has 'a lot of friends' in row with US: senator

2010-03-09T11:15:49Z

<div><p>A US senator on Tuesday warned advocates of escalating a trade dispute with Brazil that the South American giant would have "a lot of friends" around the world if Washington took such action.</p><p>"You would be shocked at how much international support Brazil has. I think if you were to go in that direction, Brazil would have a lot of friends," said

Deal in WTO Doha round doubtful this year: Kirk

2010-03-09T11:00:35Z

<div><p>WASHINGTON (Reuters) - The top U.S. trade official expressed doubt on Tuesday that negotiators could reach a deal this year in long-running world trade talks despite a goal set by President Barack Obama and other leaders.</p><p>But in remarks at the Reuters) - U.S. business groups on Tuesday criticized President Barack Obama's administration for its continued failure to resolve a cross-border trucking dispute that prompted Mexico to slap duties on about $2.4 billion worth of U.S. exports nearly a year ago.</p><p>

Europe anger over end of US air force tender bid

2010-03-09T10:16:25Z

<div><p>Europe cried foul on Tuesday over Pentagon contract rules it said favoured US plane-makers, after European consortium EADS threw in the towel on a mammoth US defence tender.</p><p>American giant Boeing is now poised to win the 35-billion-dollar (26-billion-euro) deal to supply US air force refuelling tanker jets, after rival partners Europe cried foul on Tuesday over Pentagon contract rules it said favoured US plane-makers, after European consortium EADS threw in the towel on a mammoth US defence tender.</p><p>American giant Boeing is now poised to win the 35-billion-dollar (26-billion-euro) deal to supply US air force refuelling tanker jets, after rival partners France reported an improved trade deficit and rise in exports on Tuesday, but analysts said a fall in imports carried a threatening sting in the form of weak household spending.</p><p>The monthly trade deficit in January fell because of an increase of exports of manufactured goods, customs service data showed.</p><p>However, analysts said that although the figures showed that French trade was picking up, the ...

Trade deficit worsens

2010-03-09T08:16:06Z

<div><p>Britain's trade-in-goods deficit widened to 8.0 billion pounds in January, the largest since August 2008, because of slumping exports, official data showed on Tuesday.</p><p>The figure compared with a downwardly-revised deficit of 7.0 billion pounds in December, the Office for National Statistics (ONS) said in ...

Europe furious at US air force tender trap

2010-03-09T08:15:52Z

Gas Prices Rise Two Cents In Last Week

2010-03-09T00:15:56Z

<div id="subtitle">Refineries running at reduced capacity due to lack of demand</div><div><p>The pace of the increase in gasoline prices has slowed, as the nationwide average approaches a new high for the year. The average price of self-serve regular Friday is $2.72 a gallon, according to AAA.</p><p>Today's national average price of diesel fuel is $2.883, up a penny from last Friday. Prices for gasoline have risen about seven cents a gallon in the last mont...

China faces new pressure to let currency rise

2010-03-08T14:30:08Z

<div id="subtitle">China faces new pressure to let currency rise, gives signs it may allow yuan appreciation</div><div><p>China faces mounting pressure from trading partners to loosen currency controls and is giving signs it might raise the value of the yuan to ease strains on its fast-growing economy.</p><p>Many economists say a sharp increase in the yuan...

Brazil raises tariffs on dozens of US goods in cotton feud

2010-03-08T14:18:15Z

<div><p>Brazil said Monday it would raise tariffs on 591 million dollars worth of US products in the latest twist in its showdown over US cotton subsidies it has blasted as unfair.</p><p>The list of about 100 products included luxury consumer items such as cosmetics (shampoos, cologne, beauty creams), appliances (television sets, sound and kitchen equipment) and cars.</p><p>Up to 238 million dollars in penalties may ...

Thailand seeks WTO solution on generic drugs

2010-03-08T11:16:21Z

<div><p>A senior Thai official voiced hope Monday for a WTO solution on the production of low-cost generic drugs, an issue that has stirred friction with Western companies.</p><p>A military-backed government in 2006 suspended patent protections for expensive cutting-edge treatments for AIDS, cancer and heart disease, giving Thais access to cheap copycat versions.</p><p>Activists against AIDS and poverty hailed Thaila...

Brazil announces sanctions on US cars, fruit

2010-03-08T11:15:32Z

<div id="subtitle">Brazil announces trade sanctions on US goods like cars, fruit because of US cotton subsidies</div><div><p>Brazil announced trade sanctions on a range of American goods Monday in retaliation for the United States' failure to eliminate billions in illegal cotton subsidies — a move that affects products from Ford automobiles to

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