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Oil rallies 3 percent as U.S. shale shows signs of slowdown


NEW YORK Oil rose 3.3 percent on Tuesday to the highest close in more than a month, a day after U.S. oil producer Anadarko said it would cut capital spending plans and Saudi Arabia vowed to reduce crude exports to help curb global oversupply.

Recent Africa News

Zimbabwe parliament restores Mugabe's authority to name chief justice

HARARE Zimbabwe's parliament on Tuesday changed the constitution to give back to President Robert Mugabe sole power to appoint the country's top three judges, a move the main opposition said could undermine the independence of the judiciary.

2:42pm EDT

Nigeria's acting president to return to restive oil heartlands

ABUJA Nigeria's acting president will meet again with community leaders from the Niger Delta oil heartlands next week, his spokesman said on Tuesday, in a bid to shore up a fragile truce between militants and the government there.

2:35pm EDT

Libya's PM, eastern commander commit to ceasefire, election

CELLE-SAINT-CLOUD, France Libyan Prime Minister Fayez al-Serraj and the divided country's eastern commander Khalifa Haftar committed to a conditional ceasefire and to work towards holding elections next spring in talks chaired by French President Emmanuel Macron on Tuesday.

1:48pm EDT

Tanzania tax row knocks Acacia Mining shares

JOHANNESBURG Acacia Mining's shares fell for a sixth straight session on Tuesday, a day after the gold miner was hit with a tax bill of more than $190 billion by the Tanzanian government.

1:37pm EDT

Spanish policeman hurt, man with knife arrested on Morocco border

MADRID A man was detained on Tuesday after attempting to cross the border between Morocco and the Spanish enclave of Melilla while threatening police with a knife.

1:26pm EDT

Freeport stock soars 15 percent on copper prices, permit progress

TORONTO Freeport-McMoRan Inc shares jumped to a 16-month high on Tuesday, as soaring metal prices and progress in a long-running, costly permit dispute with Indonesia buoyed the world's biggest publicly traded copper miner.

1:24pm EDT

After China-induced price spike, coal set to resume long-term decline

LONDON/SINGAPORE Coal prices' march to eight-month highs, driven by China's huge appetite for power consumption, looks like an interlude in a longer-term decline and is seen losing traction later this year.

1:09pm EDT

Sperm count falling sharply in developed world, researchers say

LONDON Sperm counts in men from America, Europe, Australia and New Zealand have dropped by more than 50 percent in less than 40 years, researchers said on Tuesday.

1:05pm EDT

Rising gold production pushes Newmont past profit estimates

Newmont Mining Corp handily beat quarterly profit estimates on Tuesday as production improved, more than offsetting the impact of lower realized gold prices, lifting the miner's shares as much as 7.7 percent to a five-month high.

12:44pm EDT

Uganda's plan to allow forceful takeover of private land stirs anger

KAMPALA A Ugandan government plan to change its constitution so it can forcefully acquire private land for public projects has ignited widespread anger, with critics saying powerful officials and individuals would use it as an excuse to grab land.

12:44pm EDT
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