Oil-Price Surge Fuels Global Investing Binge

S&P credit rating reverberates overseas, as well

(AP) - Stocks tumbled across the Middle East today as most regional markets reopened following the historic downgrade of the United States' credit rating. The region's markets mostly operate Sunday to Thursday, meaning they were the first to react to Standard & Poor's decision late Friday to cut the US level to AA+ from its top AAA rating. "Clearly there's a negative sentiment prevailing on the global financial markets. We're seeing a strong contagion effect on our markets," says a Dubai-based expert. More»

'We're reimbursing ourselves'

(NEWSER) - Donald Trump has an interesting concept of how the world’s oil markets work: In an interview with George Stephanopoulos on ABC , Trump opined that the reason oil was so high was because “We don’t have anybody in Washington that calls OPEC and says, ‘Fellas, it’s time. It’s over. You’re not going to do it anymore.’” When Stephanopoulos pressed him on how he’d back up that threat, Trump replied, “I’m going to look ‘em in the eye and say, ‘Fellas, you’ve had your fun. Your fun is over.’” More»

But he just loves this country too much not to

(NEWSER) - Donald Trump was quite the braggart on CNN’s State of the Union today. Highlights from Politico:

• Trump is better than Romney: “Mitt Romney is a basically small-business guy, if you really think about it,” Trump said , adding that he is “much bigger than this man and have a much, much bigger net worth. I mean my net worth is many, many, many times Mitt Romney.”
• And his company is, too: “I've built a great company. And one of the beauties of, frankly, if and when I announce, some time prior to June, you will see how big my company is, because it's much bigger and much more powerful and much stronger than anyone really knows.”

Qatar is first reported buyer

(NEWSER) - Now that they’ve taken control of some critical oil fields and terminals, eastern Libya’s rebels are getting into the oil business. Qatar is rumored to be the first buyer, with a deal in place to buy the oil and ship it in leased tankers, the New York Times reports. Though there are sanctions on Libya, the US says it won’t block rebel oil sales, provided none of the money goes to the Libyan government. More»

As US drivers complain, those overseas think we're lucky

(NEWSER) - Gas prices are climbing again, which means people are complaining, which means it's time for a spate of stories showing how relatively cheap gas remains in the US. Here's a rough estimate of world prices per gallon, courtesy of CNN :

• US: $3.53
• Norway: $9.28
• Europe: Between $7.50 and $8 for most, including Britain, Ireland, Italy, France, and Germany.