Oil prices may be tanking in the wake of a failed attempt to freeze production, but Citi is betting on a recovery in prices. » Read More
Secretary of State Hillary Clinton spoke with Algerian officials yesterday about the hostage crisis, reports CNBC's Michelle Caruso-Cabrera.
The crisis in Algeria is playing a role in oil's big surge today, with CNBC's Sharon Epperson.
Breaking details on the Algeria hostage crisis, with CNBC's Michelle Caruso-Cabrera.
CNBC's Michelle Caruso-Cabrera reports on a BP statement that it's been told the Algerian army is trying to take control of a natural gas site where terrorists are holding hostages, including Americans. (1:07)
Amrita Sen, chief oil analyst at Energy Aspects, tells CNBC that the instability in North Africa, with Islamic militants holding a gas facility hostage, could be quite negative for long-term investment in the region.
Islamic militants have taken as many as 41 hostages, including 3 U.S. citizens, in Algeria, and the White House is calling this a "terrorist attack," reports CNBC's Michelle Caruso-Cabrera.
Dominic Schnider, Head of Commodity Research, UBS Wealth Management warns investors not to expect a drastic rise in oil's risk premium as a result of the Algerian attacks. He expects a $3 to $4 increase.
There has been a "terrorist attack" on a gas facility in Algeria where Americans are among 41 people being held hostage by Islamic militants. Helima Croft of Barclays, offers insight.
Secretary of Defense Leon Panetta has confirmed Americans and others are being held by Islamic militants after what he calls a "terrorist attack" occurred at a natural gas facility in Algeria. Senator Chris Coons (D-DE), offers insight.
CNBC's Michelle Caruso-Cabrera reports Secretary of Defense Leon Panetta said an overnight attack on the natural gas facility in Algeria "was a terrorist attack," and confirms that Americans and others are being held by Islamic militants. (1:48)
U.S. citizens are among 41 people reportedly taken hostage at a BP field in Algeria, reports CNBC's Michelle Caruso-Cabrera.
A number of Americans are among 41 people taken hostage, reports CNBC's Michelle Caruso-Cabrera.
Latin American markets have been a prime target for Spanish companies because of their language advantage, and giants such as Telefonica and Banco Santander have increased their exposure there to compensate for problems in their domestic market.
*Stocks build in Europe as refinery maintenance ends. Middle distillates inventories, which include heating oil, diesel and jet, had been running at multi-year lows in both the United States and Europe- threatening to ramp up heating bills for households in the event of an early cold snap.
ANN ARBOR, Mich.-- Fourteen Middle Eastern and North African entrepreneurs are at the University of Michigan as part of a State Department- sponsored program that partners university experts with area community organizations. The program participants are from Algeria, Egypt, Israel, Morocco and Tunisia.
ALGIERS, Algeria-- Algeria's Finance Ministry and central bank have announced the country is contributing $5 billion to the International Monetary Fund. In April, Algeria said the IMF had asked for Algeria's participation in the international lending institution. Algeria is the third largest supplier of natural gas to Europe after Russia and Norway.
*Aims to promote democcracy in Africa. Hollande, who heads to the Democratic Republic of Congo on Saturday for a gathering of French-speaking nations, has promised to promote democracy in Africa and break with an era of collusion between French and autocratic African leaders.
LONDON, Oct 10- The shale boom has left some of the most sophisticated refineries in the United States hunting across Europe and Africa for more of the heavy residue left over from other refiners' crude distillation units, as they try to find a use for all the expensive coking units built in the last decade.
LONDON, Oct 9- Clean tanker rates for refined petroleum products on top export routes were broadly steady on Tuesday with lighter business capping earnings in the transatlantic market.
LONDON, Oct 8- Liquefied natural gas will continue to be benchmarked to oil prices for several more decades, outgoing BG Group Chief Executive Frank Chapman said on Monday, despite complaints by top Asian importers that supplies are unaffordable.