Europe will become even more dependent on Gazprom's gas supplies in years to come, the Russian state company says.» Read More
Oil is slipping slightly this morning as the Algeria hostage crisis continues, with Boris Schlossberg, Managing Director, BK Asset Management; Kevin Book, ClearView Energy Partners; Barry Knapp; Barclays; and Rebecca Patterson, Bessemer Trust.
Helima Croft, geopolitical strategist at Barclays, draws attention to the vulnerability of the oil market if the Algerian groups targeted the Libyan energy facilities.
Neil Atkinson, director of energy research & analysis at Datamonitor, tells CNBC that Algeria is very important for the European oil and gas market, with countries like Italy taking about a third of their gas from the country.
CNBC's Michelle Caruso-Cabrera reports the chronology of the terrorist attack in Algeria and on the intervention by the Algerian government that has taken place already; saying as many as 7 U.S. citizens were involved in the situation.
Jonathan Barratt, Founder, Barratt's Bulletin says Rio Tinto remains a takeover target but he thinks new CEO Sam Walsh can turn the company around.
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.