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Business Africa

  • Oil prices dropped below $69 a barrel Tuesday amid expectations that U.S. gasoline supplies rose for the sixth straight week, easing worries of a crunch during the summer vacation season.

  • U.S. oil rose to just shy of $66 on Monday, and London Brent crude recovered above $69, after a sell-off of more than $2 at the end of last week, buoyed by news leading exporter Saudi Arabia would keep OPEC supply curbs in place through July.

  • Oil dropped more than two dollars on Friday, weakened by selling in equity markets that raised doubts over energy demand and after a storm that halted exports from Oman lost power.

  • The Group of Eight wealthy-nation summit in Germany is ending Friday. Now, the question arises: Is the G8 still able to confront global issues or has it become outdated? Ian Vasquez, director of the CATO Institute’s Center for Global Liberty & Prosperity, and P.J. Crowley, senior fellow and director of homeland security at the Center for American Progress, presented differing views on “Morning Call.”

  • CNBC Senior Correspondent Scott Cohn is on the trail of a controversial former corporate executive who prosecutors say has fled the country.  Cohn and a producer have traveled to the African nation of Namibia, searching for former Comverse CEO Jacob "Kobi" Alexander.  Cohn has filed his first video dispatch from Namibia and you can see it here only on CNBC.com.

  • CNBC Senior Correspondent Scott Cohn is on the trail of a controversial former corporate executive who prosecutors say has fled the country.  Cohn and a producer have traveled to the African nation of Namibia, searching for former Comverse CEO Jacob "Kobi" Alexander.  Cohn has filed his first video dispatch from Namibia and you can see it here only on CNBC.com.

  • A Namibian court on Friday postponed until June 25 an extradition case involving fugitive U.S. millionaire Jacob "Kobi" Alexander, who is wanted in the United States on charges of manipulating stock options.

  • Former Comverse Technology CEO Jacob “Kobi” Alexander has come to start a new life—and maybe avoid prosecution on options fraud charges in New York.

  • Merkel, Putin, Bush

    This meeting of the world's richest nations may be the most challenging one for the U.S. in years, given the growing power of Russia and China.

  • Oil and gasoline futures jumped Thursday on concerns that U.S. refineries aren't making enough gasoline to meet domestic demand.

  • CNBC Senior Correspondent Scott Cohn is in Namibia, searching for former Comverse CEO Jacob "Kobi" Alexander, who faces charges in the United States that he orchestrated a massive options backdating scheme.    In an exclusive interview, Cohn spoke with Richard Metcalfe, Alexander's lawyer in Namibia.

  • U.S. oil edged above $66 on Wednesday after U.S. gasoline stocks rose for a fifth straight week and eased concerns of a summer supply crunch in the world's top consumer.

  • Gasoline futures dropped more than 1%, and oil and gas futures also fell as a cyclone approaching the Persian Gulf veered away from major oil facilities.

  • U.S. broke above $66 and London Brent pierced $70 on news a cyclone was headed towards the oil-producing Arabian peninsula with a potential to disrupt shipping and output.

  • Oil rallied above $65 a barrel as fresh refinery and pipeline problems in the U.S. reignited fears over gasoline supplies as the summer peak in gasoline demand in the world's largest consumer approaches.

  • Oil rose Thursday, recovering from early losses to close above $64 a barrel as U.S. government data showed crude oil inventories fell unexpectedly last week.

  • U.S. crude finished up slightly on Wednesday after Tuesday's sharp selloff and gasoline futures fell to a 3-week low ahead of weekly data on U.S. petroleum inventories.

  • Oil prices slumped as much as 4% after the threat of further disruptions to Nigerian supplies receded and gasoline futures sold off as U.S. refineries returned to production.

  • Oil prices fell in light trade Monday, eased by the end of a Nigerian oil workers' strike over the weekend.

  • Prices for crude oil and gasoline rose on supply concerns ahead of the Memorial Day weekend, the kickoff to the summer driving season. Strikes and violence in Nigeria also propped up the oil market.