Analysts said Monday that the increase in oil prices will have no lasting impact on the global economy recovery, thus expecting the latter to be sustained.

Light, sweet crude slightly dropped 42 cents to settle at $112.37 a barrel at late afternoon Singapore time in a global electronic trading session on the New York Mercantile Exchange Monday. On Friday last week, the contract strengthened as much as $2.49 to settle at $112.79, which is considered the highest since September 2008.

Analysts said that the devastating news over the weekend greatly affects the movement of prices of commodities in the global market. They said that the Gaza-Israel violence along with new protests in Tahrir Square against the military can spur another buying frenzy in the market.

In addition, they said that many investors are closely watching the currency markets as the US dollar weakens, reaching its 15-month low against the euro last week. The euro, on the other hand, slightly fell from $1.4483 late Friday to $1.4457 early Monday. They said that a weaker dollar makes dollar-based commodities such as oil cheaper for investors who use other currencies.

Meanwhile, heating oil futures for May delivery likewise fell Monday as little as 1.8 cents to settle at $3.30 a gallon, while gasoline dropped 1.4 cents to $3.25 a gallon. Natural gas futures for immediate delivery were also down 2.6 cents to settle at $4.02 per 1,000 cubic feet. Brent crude futures for May delivery, on the other hand, also went down Monday for about 62 cents to settle at $126.03 a barrel on the London ICE Futures exchange.

Stan Kroenke, an American billionaire will acquire soccer team Arsenal from the English Premier League in an agreement that would amount to $1.2 billion or 731 million pounds.

According to Kroenke, who by now owns about 30 percent of the North London team had offered the shareholders of Arsenal of 11, 750 pounds each share and has currently protected shareholder Danny Fiszman backing about 16.1 percent and shareholder Nina Bracewell-Smith’s 15.9 percent.

The American billionaire, who owns many huge sports clubs in the U.S., currently manipulates about 63 percent of the team that right now remains second in the league following its rival Manchester United.

In Kroenke’s statement, he said that Arsenal is great team having unique tradition and history and a superb manager under Arsene Wenger. He added that they aspire to develop on such affluent heritage and carry the team to brand new success.

For the past six years, the team never won a trophy since 2005 when they won the FA Cup and their supporters are disappointed because their expenditure for the players dawdled behind its rival, which include Manchester City and Chelsea.

According to Wenger, he had worked along with Kroenke at the board meetings in the previous years and he knew the American billionaire is the team’s best interest right now. Wenger added that Kroenke knows the tradition and heritage of the team and their goal is to run the Arsenal in a manner that preserves enduring future.

Kroenke is right now responsible in making offer for the outstanding shares, following the rules of Takeover Panel.

The major shareholder of the team is Alisher Usmanov, the Russian steel aristocrat, who holds about 27 percent venture through his White and Red vehicle.

In line with this, Peter Hill-Wood remains in his post as the chair.

The wildfires burned over 230,000 acres through the town of West Texas and wrecked an approximated 80 buildings and houses.

According to the Texas Forest Service, over 60,000 acres were burned and 40 houses were lost in one rage that chased through West Texas and into to the Fort Davis. Within 90 minutes, the fire ran across 20 miles.

However, the officials in the area approximated no less than 100,000 acres in two counties had scorched from the blaze, which continued to rise on Sunday evening. Pere Gallego, State Representative, said that he can only illustrate it as an ocean of black, with little islands of yellow. He also said that fires licked at the boundaries of town but did not flame their way throughout its center, saving more buildings than anticipated.

Gallego added that still, 17 to 20 houses were wrecked, and as much as 30 more buildings were flamed. Moreover, neighborhoods had worked all night to save their houses and moved on to assist their neighbors.

He also added that until now, the fires in some areas are 15 to 20 feet high and the electric power in the town was shutdown on Sunday evening. Gallego stated that several of the neighborhoods may not have been insured for the fire.

Gary Mitschke, the management coordinator of Presidio County Emergency, claimed that it was the initial flame to fright him in 13 years in the field of combating grass fires. The flame crossed pushed state highways and railroad ways as it ran past Fort Davis.

Mitschke also said that without an alteration in winds, which were keeping airplane from helping the efforts of firefighters, the blaze can burn for several days or even for weeks. He added that it moved nearly as fast as a truck and when people hear the term firestorm, this is what Mitschke imagined.

Reports said Friday that Toyota is currently suffering from parts shortage, therefore will be suspending production at North American vehicle factories.

Bill Visnic, an analyst of Edmunds.com, said that such event is inevitable that suppliers in Japan will trickle down to North American operations. According to reports, Toyota production will be suspended beginning on April 15, 18, 21, 22 and 25.

Toyota City, a Japan-based company, announced Thursday on its official website that other details of production shut down will be determined and provided later in the day. In addition, they said that approximately 85 percent of the parts and materials for its 12 North American-based factories and Lexus models are coming from suppliers on the continent. On the other hand, Toyota plants in Georgetown, Kentucky will remain open in April 21.

Due to parts shortage, 25,000 employees in North America is also at risk of temporarily losing their jobs as workforce will not be needed on days when production has stopped. Steve St. Angelo, executive vice president of Toyota North America, said that workers can either go on a vacation, unpaid time off or report to the factory for training and plant improvement activities. He added that they are slowing down to conserve parts and maintain production as much as possible.

Meanwhile, Chrysler also announced that they are cutting some planned overtime this week even though they are not affected by the parts shortage. General Motors, on the other hand, has already cancelled overtime Thursday at a sport-utility vehicle assembly plant in Arlington, Texas.

Congressional Representatives and Top White House unsuccessful to achieve a deal on Tuesday with regard to the spending plan for the rest of the present fiscal year.

The agreement also carries the federal government nearer to a layoff as the week end. Major Democrats abandoned the proposal of Republican to maintain the government operation for over the week at the rate of an added $12 billion in slashes.

On the other hand, Republicans discharged the claim that there had been a deal to slash $3 billion for the following months of the fiscal year. If there is no agreement by midnight Friday, portions of the government will shut down. Harry Reid, the Senate Majority Leader, and John Boehner, the House Speaker, met in private to talk about the current issue.

The statements published by both of their offices illustrated the discussions as fruitful and said that they both agreed to keep on working to search for a solution. In addition, the budget foreign policy explained the political risks of the condition, with both sides are trying to show the other as reluctant to do what is good for the nation.

Republicans, stressed from the traditional movement of Tea Party for deep slashes that will lessen the government’s size, accuse the Democrats for deteriorating to pass a budget for this 2011 fiscal year when they managed both the chambers of congressional and said that President Barack Obama and his coalition are disregarding the threat of the increasing deficits of the federal and the national liability.

The Democrats argue that cutting the spending required by House Republicans in return to Tea Party demands will spoil the recovery in the economy and cut the programs for innovation and education that are important for continued development.

According to Deputy Prime Minister of Russia, the space agency head of the country will be resigning after seven years in the job because of takeoff delays that annoyed top officials.

Sergei Ivanov, Russia’s Deputy Prime Minister, stated that Anatoly Perminov, the head of Roskosmos, will be resigning as he had reached the age limit of 65 permitted for state officials and involved the alteration will come this April.

The Russian News Agencies said that Perminov is already 65 years old and according to the law in Russia, no state official can stay on job once is reached the limit age allowed. Ivanov also stated that whether it is April 15, 20 or 30, he does not see any difference at all, adding that in any possibility Charles Bolden, the administrator of National Aeronautics and Space Administration (NASA), will have a matching part to meet when he goes to Russia next week.

In spite of the promises that the alterations is because he is old enough, the new of the departure of Perminov comes at an unusual period as the country plans to celebrate the half century of Yuri Gagarin as he became the first man in the outer space on April 12.

However, it comes on the lists of one of the most awkward mistakes in the space program of Russia in previous times, the unsuccessful takeoff last December of three navigation satellites that bumped into the ocean of Hawaii. The newest manned takeoff of Russia for the International Space Station before the anniversary of Gagarin was also postponed from its scheduled takeoff date of March 30 because of some technical difficulties.

Pro-Golfer Phil Mickelson has ended his year-long win drought after he prevailed on Sunday at the Houston Open.

In his final shot at the Redstone Gold Club, he fired an amazing shot that resulted for him to have the advantage against contenders Chris Kirk and Scott Verplank. He was able to shot a seven-under-par 65, making way for him to register a total win of 20-under-par 268.

His recent success has marked his 39th win in the PGA tour cycle, after he evened the course record with an amazing nine-under 63. As a result, Mickelson will now go to Augusta in order to compete with others after his first win at the Masters in 2010. However, that contest was not quite favorable for him as he never saw himself as the favorite. The game to be held in Augusta is the season’s first major stretch.

In a statement, he said that he do not know if he was the crowd favorite for the game. He further stated that he was intensely preparing for the upcoming Masters, which is why he wanted for it to be good in every single way.

Meanwhile, Verplank began the game as joint-leader with Mickelson. He was flawless in his every match, going six-under-through-13 when he claimed the top spot, but failed to spot on the conclusion of the game, hitting bogeys at 14 and 16. As a result, he returned a four-under-par 68. On the other hand, Kirk had a five-under 67, which enable him to join Verplank on the second place.

Furthermore, while the win will help boost the confidence of Mickelson before he heads out to Augusta on the matches that will begin in April 7, there are only four occurrences that a player succeeded in winning the event before the Masters, and became successful in winning the green jacket. One of the players who have achieved this was Mickelson.

Country musician Taylor Swift won the entertainer of the year honor in this year’s Academy of Country Music Awards.

The songstress outshined fellow nominees Miranda Lambert and band Lady Antebellum in an event that she never saw coming. Prior to the announcement of the winner for the said category, Miranda Lambert already bagged four awards and Lady Antebellum also went up to the stage for their awards. Swift, having four nods, was calmly watching other artists getting their honors when finally, her name was announced for the final honor of the night; the fan-voted entertainer of the year award.

As a result, Swift burst into tears while she was addressing her fans. In addition, she said that it was her first time to receive such award and she was just losing her mind.

Meanwhile, Lambert was able to retain her spot as the top female vocalist and she was given the awards for song, video and single of the year award for her soothing song “The House That Built Me.” In the 46th edition of the Academy of Country Music Awards, Lambert had seven nods that include a couple of nominations in the video slate.

On the other hand, Lady Antebellum received awards for vocal group and album of the year while Brad Paisley has won top male vocalist for the fifth straight year. Meanwhile, the honor for the top new artist award was bagged by siblings The Band Perry, which originated in Mississippi.

Both Keith Urban and Kenny Chesney, having three and five nominations respectively, left the awards show with no honors under their name. The winners were announced after the electrifying performances by some of the artists included in the awards show. Not after an hour until the first winner was announced in the three-hour awards show. The 46th annual awards ceremony was hosted by Reba McEntire alongside Lambert’s fiancé; first-timer Blake Shelton.

The Detroit Red Wings settled their game over the Minnesota Wild after winning on Sunday evening, which sealed their ninth championship in 10 seasons.

Moreover, Nicklas Lidstrom of the Red Wings helped his team to win their latest title against the Wild, 4-2, and it was their 14th title ever since the 1991-92 season. In an interview, Lidstrom stated that it was tough to be in a division where formidable teams are also included, such as Chicago and Nashville, so for him, it is a matter on what team will finish first.

In addition, with only a week left to wrap up the regular season, the Red Wings moved one step up over San Jose to claim the second spot in the Western Conference. Also, good news is that some of the key players of Detroit are already forming their shape back. In addition, Coach Mike Babcock of the Red Wings stated that once their injured players regain their form, the team will increase its chances of being more formidable. Center Pavel Datsyuk already return to the game since March 17 after suffering from an injury on the lower body.

Recently, the Red Wings had a rough start at home, but their game against the Wild had got then going and aiming for something more. In the game’s second period, Brad Staubitz of the Minnesota Wild made an early goal, but Tomas Holmstrom of the Red Wings maintained his team’s two-goal advantage in the middle of the second period.

Since 2001, the Chicago Blackhawks are the other team to be successful in winning the Central Division. They were able to break Detroit’s winning streak in 2010 prior in winning the coveted Stanley Cup. Consequently, in a statement, Minnesota Winger Andrew Brunette said that the Red Wings’ expertise is the best in the league; with Lidstrom being the best player he ever saw played for the last 15 years of the game.

The focus of the repair at the crippled Fukushima Daiichi nuclear complex turned to the removal of radioactive water from the inside and around the reactor buildings.

The world is looking for signs of progress at the Fukushima Daiichi nuclear complex. However, instead of progress, they found a new problem in the plant. The radioactive water from the inside and the outside part of the reactor building are preventing the workers from doing their tasks. The water found on the reactor buildings is poisonous so the workers are having a hard time doing their work. However, only little water was removed from the reactor building a week before the problem was discovered.

There are three basic reasons that caused the delay. First, there are tons of structural damage to pipes and other parts of the reactors that are very vital to water movement. Second, dangers of radiation are preventing the workers on performing essential steps. Third is a safe place where they can put the water.

The government and company officials are moving methodically. They said that it is better to get things right than to rush. They are more confident now since the reactors have stabilized and the amount of atmospheric radiation coming from the nuclear complex has declined for the past two weeks.

According to Hidehiko Nishiyama, a top nuclear regular, on Friday, it will be better if they can show a clear timetable. However, he said that they do not want the people to lose their trust on the government because of setting ambitious targets that will not be met.

The buildup of radioactive water presents new problems on the nuclear complex. The officials already confirmed that it is already leaking into nearby groundwater and the ocean.

The problem was first discovered when three workers got burned after stepping in it. They said that the process will be simple. They will only pump the water out of the flooded buildings. However, bigger problems occurred when they found out that they do not have any safe place to put the water.