Saudi Arabia, the world's largest crude exporter, could phase out the use of fossil fuels by the middle of this century. The Financial Times reports.» Read More
The tensions over Iran and threats from the West to apply sanctions on Iranian oil will see crude prices facing more of an upside risk in the near future, a commodities analyst told CNBC.
A senior Iranian official on Tuesday delivered a sharp threat in response to economic sanctions being readied by the United States, saying his country would retaliate against any crackdown by blocking all oil shipments through the Strait of Hormuz, a vital artery for transporting about one-fifth of the world’s oil supply.
CNBC's Sharon Epperson discusses activity in the commodities markets and looks ahead to where oil and precious metals are likely headed next year.
Saudi billionaire Prince Alwaleed bin Talal and his investment company say they are investing a combined $300 million in Twitter.
Now that the "Arab Spring" is turning into the "Arab Winter" the former prime minister writes, "the challenge emerging from the changes taking place is so big that we had better put in place a common Western strategy or we'll find that national approaches are totally irrelevant to shape events there."
T. Boone Pickens discusses his outlook for energy and how easy it is for the United States to develop its own energy and the benefits of getting off of OPEC's oil.
CNBC's Brian Shactman discusses the day's activity in the commodities markets and looks ahead to where oil and precious metals are likely headed next week.
CNBC's Bertha Coombs discusses the day's activity in the commodities markets and looks ahead to where oil and precious metals are likely headed next week.
The death of Saudi Arabia’s Crown Prince Sultan brings into play the system for choosing a new heir to the country's throne, and as one of most high-profile governments still resisting changes brought on by the Arab Spring, the importance of communicating stability affects investor sentiment across the Arabian Peninsula and energy markets around the world.
Oil market traders often deal with contrasting sources of information in their quest to find real production numbers and the slightest hint of where prices may be headed. Another case in point is the release of the latest August production and intake data by the producer-consumer energy dialogue, known as the Joint Data Initiative (JODI).
Saudi Arabia's sovereign wealth funds are examining acquisitions around the world, but are waiting for greater economic stability before making any definite moves, Dr. Ibrahim Al-Assaf, the country's finance minister, told CNBC Thursday.
It’s been a news-heavy week for oil markets, with the International Energy Agency publishing its monthly oil market report following OPEC’s forecasts and comments by senior oil officials earlier in the week.
CNBC's Eamon Javers reports Attorney General Eric Holder says the U.S. has charged two men, originally from Iran, for conspiracy to murder Saudi Arabian Ambassador.
Saudi Arabia's Central Bank Governor, Muhammad Al Jasser, said yesterday that "everyone" was concerned over the fragile state of the US economy and Europe's ongoing sovereign debt crisis, according to Reuters reports.
Bahrain might be the smallest petroleum producer in the Gulf but its strategic production and refining relationship with Saudi Arabia means that the hydrocarbon sector remains critical to the wider economy, according to oil minister, Dr. Abdul-Hussain bin Ali Mirza.