CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Crude and gas inventories were down today despite record US production.» Read More
The Middle East crisis will lead to an 'energy shock' for the West, increasing stagflation, David Murrin, author of "Breaking the Code of History" and hedge fund manager, said.
The U.S. Treasury has announced it's freezing a whopping $30B in Libyan assets, reports CNBC's Eamon Javers.
If you're looking for a news story containing the name of the Libyan leader you may be in for a challenge: The spelling of 'Gaddafi' across news outlets has been as erratic as his recent behavior.
Switzerland has also moved to freeze the assets of the Libyan regime. But it seems unlikely that Colonel Gaddafi and his cronies would be stashing their wealth in Zurich these days.
There is rarely a happy ending when the price of crude jumps sharply, Stephen King, the chief economist at HSBC in London, said.
Oil prices are likely to extend last week's gains despite assurances from de facto OPEC leader Saudi Arabia that it's willing and able to meet any supply shortfalls from Libya, according to the latest CNBC market sentiment survey.
The Libyan government's sovereign wealth fund invested some $500 million with Stanford but the deal feel apart when the SEC charged Stanford of running a $7 billion ponzi scheme. Libya may have managed to withdraw much of its Stanford investment.
Thursday's violent swings in oil prices put in a "blow off" top for WTI crude, and the market is in a neutral zone with a bias is to the upside, said oil analyst Mike Fitzpatrick.
Oil prices for the most active Brent and WTI crude contracts are still up over 10 percent since last Friday — and there's no sign that Mideast turmoil will cease over the weekend. So oil traders are bracing for more — perhaps much more — upside risk.
After three days of delays, a U.S.-chartered ferry evacuated Americans and other foreigners out of Libya on Friday and brought them to the Mediterranean island of Malta.
Teasing out short term trading noise from durable economic news is tricky business.
"When people don't know, they hunker down and own less risk," the equity strategist said. "If you think more of this is coming, you sell some stocks, buy some Treasurys, and buy some gold...and I wouldn't make that trade."
The role of Facebook in the Middle East revolutions is "overstated," says one prominent Jordanian businessman.
Massive instability in North Africa is terrible news for a fragile US recovery: Though just how terrible remains to be seen.
Oil prices have seen wild moves in recent days amid increasing violence in the Mideast, but the options market is telling us the roller-coaster ride may be over.
Forget Twitter and Facebook. Forget outspoken Google spacer Exec Wael Ghonim. If you want to know who should get credit for the sudden surge towards democracy in the Middle East, send a ‘Thank You’ note to Ben Bernanke.
If Saudi raised oil production to 9 million barrels per day, then they've chosen a good time to do it.
Libyans braced for mass protests Friday as the rebel movement called for a new push to oust Moammar Gaddafi after a day of fierce fighting in which rebels made new gains and advanced closer to his stronghold in Tripoli while pro-government forces attacked two nearby cities in battles that killed at least 17 people.
Protesters gather in the streets of Libya, as hospitals begin to fill up with injured and Libyan citizens pack up to leave the country.
Tweets, bleats and Al-Jazeera, and maybe new margin requirements were all part of the reason behind the big swing in oil prices Thursday.