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Flights to and from Europe started to resume Monday since airspace across Europe was closed last week when an Icelandic volcano erupted.

EU is to set up an ad-hoc group to assess the impact of the volcanic ash cloud on the economy, and the air travel industry in particular.

China's Sinopec will acquire part of Petrobras's stake in two blocks in Brazil, a further step to enhance relations in the energy sector between China and Brazil.

Intel Corp. said Tuesday its net income in the first quarter nearly quadrupled over last year

Global oil demand is expected to rise to 86.6 million barrels per day, 30,000 barrels more than expected.

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