I have a file at a remote url such as http://www.site.com/docs/doc1.xls and i would like to copy that file onto my BLOB storage account.
I am aware and know of uploading files to a BLOB storage but wasn't sure how this can be done for a file from remote URL.
Try looking at CloudBlockBlob.StartCopyFromBlob that takes a URI if you are using the .NET client library.
Gaurav posted about this when it first came out. Handy, and his post shows how to watch for completion since the operation is Async.