The US energy secretary, Samuel Bodman, said Saturday there was no oil crisis despite a sharp rise in crude prices overnight and that he did not see a need to tighten regulation of the market. (Report: O. Fairclough)
Fishermen clashed with police in Brussels on Wednesday in a European-wide attempt to press the EU for help to alleviate the sting of soaring fuel costs. Both Brussels and member countries struggle to deliver an answer.
The president of the oil-rich African state announced on Wednesday that the company would be replaced by another operator this year, after relations with local communities turned sour and erupted in open conflict. (Analysis: D. Herbert)
Drawing a parallel to the 1970s oil crisis, Ben Bernanke, president of the Federal Reserve, said the US economy was holding up well in the face of "severe oil-price shock" because the country was less dependent on petroleum.
President Evo Morales has nationalised the gas and oil distributor Transredes, which is co-owned by Dutch and US interests. The Bolivian energy minister, Carlos Villegas, called the move an "historically transcendental act".
France's proposal to cap oil taxes in response to the rise in oil prices goes against the general spirit of the European Union, Jean-Claude Juncker, chairman of the euro zone finance ministers, said on Sunday.
Over the first five months of 2008, car sales in Italy dropped by 20%. For the first time, diesel costs more than unleaded petrol, and cars are becoming luxury goods. (Report: Alexis Masciarelli, Matteo Codrino, Simone Taddei)