Crude prices settled higher Tuesday after an energy advisory group reduced its estimate on the amount of oil that will reach the market in the coming years.
Retail gas prices and crude oil futures reached record highs Monday amid a backdrop of Mideast tensions and dollar concerns, but crude ended the day lower.
The back-and-forth between Iran and the United States over an encounter between their naval forces intensified this week when Tehran rejected a message from Washington because it did not use the term "Persian Gulf," Iran's news agency said.
Iran on Thursday released video of its naval forces interacting with U.S. coalition warships in the Persian Gulf region -- but unlike video from the Pentagon, it did not show a threatening exchange.
The war of words between United States and Tehran continued Wednesday, with President Bush repeating his assertion that Iran is "a threat to world peace."
Iran has denounced video and audio recordings released by the United States of the two nations' confrontation in the Strait of Hormuz as "fabricated," according to statements carried by state-run television station.
As President Bush prepared Tuesday to head to Israel and the West Bank for the first time as commander-in-chief, he called a confrontation between U.S. Navy warships and Iranian boats in the Strait of Hormuz "a provocative act."
Five Iranian Revolutionary Guard boats "harassed and provoked" three U.S. Navy ships early Sunday in international waters, the U.S. military said Monday, calling the encounter a "significant" confrontation.
A Guantanamo Bay detainee from Saudi Arabia -- who is also the brother-in-law of a September 11, 2001, hijacker -- faces terrorism charges, the U.S. Office of Military Commissions said Friday.
Crude prices settled higher Tuesday after an energy advisory group reduced its estimate on the amount of oil that will reach the market in the coming years.
Retail gas prices and crude oil futures reached record highs Monday amid a backdrop of Mideast tensions and dollar concerns, but crude ended the day lower.
The back-and-forth between Iran and the United States over an encounter between their naval forces intensified this week when Tehran rejected a message from Washington because it did not use the term "Persian Gulf," Iran's news agency said.
Iran on Thursday released video of its naval forces interacting with U.S. coalition warships in the Persian Gulf region -- but unlike video from the Pentagon, it did not show a threatening exchange.
The war of words between United States and Tehran continued Wednesday, with President Bush repeating his assertion that Iran is "a threat to world peace."
Iran has denounced video and audio recordings released by the United States of the two nations' confrontation in the Strait of Hormuz as "fabricated," according to statements carried by state-run television station.
As President Bush prepared Tuesday to head to Israel and the West Bank for the first time as commander-in-chief, he called a confrontation between U.S. Navy warships and Iranian boats in the Strait of Hormuz "a provocative act."
Five Iranian Revolutionary Guard boats "harassed and provoked" three U.S. Navy ships early Sunday in international waters, the U.S. military said Monday, calling the encounter a "significant" confrontation.
A Guantanamo Bay detainee from Saudi Arabia -- who is also the brother-in-law of a September 11, 2001, hijacker -- faces terrorism charges, the U.S. Office of Military Commissions said Friday.
In one of the largest, most visible war games America has staged in the Persian Gulf since the start of the Iraq war, two U.S. aircraft carriers and seven other warships cruised near the Iranian coast Wednesday.
As bombs fall in Beirut, pipelines explode in Nigeria and Iran shakes its fist at the West, energy traders and motorists alike are wondering one thing: How high can oil prices go?
All of us buy gasoline to drive our cars or heating oil to stay warm in the winter. Even if we heated our homes with peat and solar panels, we'd still have to pay higher energy costs being passed along by airlines and hotels and supermarkets.
President Bush said Thursday that the U.S.-led global war on terror had "weakened" al Qaeda and cited as proof international efforts that he said had thwarted a terrorist plot to attack Los Angeles.
The White House on Thursday released a list of the 10 serious terror plots President Bush said were foiled by the United States and its allies over the past four years.
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