Oil prices rose Thursday over worries that a wider government ban would result in tighter supplies.
Meanwhile, oil prices rose and Yukos, which was pumping 2% of global output, saw its shares rocket.
Oil prices rose sharply in late January and gasoline prices soon followed.
As oil prices rose, some countries decided to start unwinding these distortions.
On Wednesday, the airline sector fell hard as oil prices rose, although though shares of Midwest Air Group kicked up 5.3% on word of a higher bid for the company from AirTran Holdings.
Gold and crude oil prices rose this week, supported by concerns that heightened tensions between the West and Iran may get out of hand, although profit taking ahead of the weekend weighed on gold.
FORBES: METALS OUTLOOK: Higher Gold Prices Seen For Next Week As Iran Tensions Lend Support
Crude oil prices rose following the fire at the massive Paraguana refining complex, which, combined with a halt in Ecuador's exports, and a reported blast at the Aqaba port of Jordan, was enough to give the market the jitters.
Thanks mainly to rising oil prices, manufacturers' input prices rose by 2.9% in November alone.
Crude-oil-future prices rose about 1% on the news of Greenspan's remarks.
Despite widespread claims of a demand slowdown due to high crude prices, Chinese oil demand rose 10.6% year over year in March.
Even excluding oil, prices of imported goods rose by 8.3% in the year to the second quarter of 2008, the highest rate of increase since 1993.
In the year to May, says Michael Rosenberg, chief currency strategist at Deutsche Bank, import prices to America, excluding oil, rose only 0.9%, even though the trade-weighted dollar fell by 6%.
Euro zone economic data released Tuesday showed producer price inflation rose sharply in August, mainly due to higher oil prices.
Goods-and-services imports rose by 3.4% in October, fuelled by higher oil prices as well as continued strong domestic demand for foreign goods.
The prices of basic food items such as bread, milk, vegetables, and cooking oil, which rose 47 percent between 2011 and 2012, continue to climb.
FORBES: Despite Being Economically Unfree, Iran's Economy Shows Resilience
In each of the last two years gasoline prices rose sharply at the beginning of the year because tensions in the Middle East raised fears that oil supplies would be disrupted.
In America, the energy index rose a whopping 3.8% in September as petrol, heating-oil and natural-gas prices all shot up.
应用推荐