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Iran stages war games, boats hit mock-up U.S. ship

(Reuters) - Iran's elite Revolutionary Guards staged war games in the Strait of Hormuz on Wednesday, including a gunboat attack on a model U.S. warship, in Tehran's latest display of military muscle in a Gulf shipping channel vital to world oil exports. The Shi'ite Muslim Islamic...

Saudi's Naimi says oil demand is growing, markets calm

(Reuters) - Saudi Arabia's Oil Minister Ali al-Naimi said on Wednesday that oil demand is growing and markets are calm, in some of his first public comments since the price of crude rebounded from a near six-year low. Oil prices fell by 60 percent between June and January to a...