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BP rebounds into $5.62-billion net profit

British energy giant BP rebounded into net profit in the second quarter of 2011, aided by high oil prices, after a huge loss last year in the wake of the Gulf of Mexico oil spill disaster, it said Tuesday. Earnings after taxation hit $5.62 billion (3.87 billion euros) in the…

Oil soars past $105 on Libya violence

LONDON – Brent oil prices soared above $105 per barrel on Monday, striking a fresh two-year peak as deadly violence in Libya fuelled concerns over spreading unrest in the Middle East and north Africa region. Brent North Sea crude for delivery in April surged to $105.15 per barrel, the highest…