US September crude rose 48 cents to $79.43 a barrel by 0806 GMT, having reached a 12-week high of $79.69 last week and climbed 4.35 per cent last month
The government on Friday gave the go ahead to deregulate fuel prices and link it to international crude prices, but only for petrol
The Kirit Parikh panel has recommended lifting of control over petrol prices at refinery and retail level
Iran said it temporarily boosted gasoline production by about 30 per cent to show the West it can cope with any sanctions targeting its fuel imports
Economic recovery and weakening dollar are driving up oil prices
Gold prices surged to a record high above $1,070 an ounce on Wednesday. Key facts about the different ways to invest in the precious metal
Big oil producing nations denied a report that Gulf Arab states were in secret talks to replace the US dollar with a basket of currencies
The IEA has said world oil consumption would average 84.4 million bpd in 2009 -- down 2.2 percent from 2008 due to the economic downturn
Iraq will seek $1.2 billion in non-recoverable signature bonuses for deals made in a second round of bidding for oil deals
The government is considering injecting funds into the ailing national carrier by way of equity and debt as an initial public offer is unlikely at present
