G8 urged to act over oil prices

Oil price up as Asian stocks rise
Oil prices bounce back from a three-and-a-half year low, tracking Asian stocks higher, but are still below $50 a barrel.

Oil price hovers at $50 a barrel
Oil prices are hovering around $50 a barrel amid growing fears over a global recession and lower demand for oil.

Opec 'lost $700bn on cheaper oil'
Opec members have lost about $700bn (£467bn) because of falling oil prices, the cartel's president says in an interview.

Oil prices fall on economy fears
Oil prices fall on more bad economic news and after Opec hinted it would not cut oil production soon.

Oil price slides to 20-month low
Oil prices have fallen to the lowest levels since the beginning of 2007 due to worries about weakening energy demand.