Oil prices retreated Wednesday as official data revealed another rise in US crude stockpiles.

In Venezuela, oil prices continue to go down. The opposition blames the government for the lowering prices.

A leading Egyptian financial institute says food prices jumped in September to five-year record high.

Oil prices have surged more than three percent after figures revealed that US drilling slowed, with analysts estimating that some $1.5 trillion worth of planned US production investment was uneconomical.

OPEC says the recent data shows there will be better-than-expected oil-demand in the main consuming countries in 2016.

Iran’s Minister of Petroleum Bijan Zangeneh says some countries in OPEC are trying to harm other members by driving crude oil prices lower through flooding the market.

Minister of Petroleum Bijan Zangeneh says Iran is not opposed to an emergency OPEC meeting to discuss sagging oil prices.

Major oil and natural-gas companies around the world have shelved $200 billion of spending on new projects following the slump in crude prices.

Energy experts are ruling out the prospect of an oil price crash as a result of Iran’s full-fledged return to the market after the conclusion of nuclear talks.

House prices in the UK continue to rise reaching its highest level ever.