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Tag Archives: middle east tension

Libya becoming new front in fight against Islamic State

FILE - In this file image made from a video released Sunday, Feb. 15, 2015 by militants in Libya claiming loyalty to the Islamic State group purportedly shows Egyptian Coptic Christians in orange jumpsuits being led along a beach, each accompanied by a masked militant. American warplanes struck multiple targets in Libya overnight, hitting an Islamic State training camp and a senior extremist leader, U.S. officials said Friday, Feb. 19, 2016. (militant video via AP, File)

BENGHAZI, Libya (AP) — Libya is rapidly turning into a new front in the fight against the Islamic State group, which is heavily recruiting militants from abroad and trying to exploit years of chaos to expand its foothold in the oil-rich North African nation. Washington and its European allies are seeking to end the interminable divisions among Libyan factions to ...

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Oil rises on Middle East tensions, weaker U.S. dollar

LONDON – Oil prices rose three percent on Tuesday as tensions in the Middle East escalated following the downing of a Russian fighter jet near the Syrian-Turkish border, and a weaker dollar provided an incentive for investors to buy more oil. Brent futures for January were trading at a near two-week high of $46.23 a barrel at 1420 GMT, a ...

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Iraqi refinery may be destroyed in battle to save it

BAGHDAD – Islamic State militants have dug trenches around natural gas and hydrogen tanks at Iraq’s largest refinery, raising the stakes in a battle where the price of victory may be the refinery itself. The Baiji refinery remains contested despite more than 300 coalition air strikes in the vicinity since the Islamist insurgents overran the area last June. The militants ...

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April’s oil price bounce trips up some hedge funds

The strongest month for oil in six years was not great for some hedge funds whose bets on deeper market declines were frustrated by the April rally. A weak dollar, Middle East tensions and stalling U.S. output growth sent crude oil futures up as much as 25 percent last month. It was the largest advance since May 2009, and surprised ...

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