Leaders in France and Turkey have called for an Iraqi unity government. The stakes for Turkey are greater, CNBC's Hadley Gamble explains, as it shares a border with Iraq.» Read More
U.S. crude oil futures ended at a record high on Thursday, fueled by yet another rally in heating oil futures, which hit a new peak.
Oil prices climbed to a fresh closing peak of above $123 a barrel despite a big increase in U.S. crude supples.
Crude oil prices closed at yet another record of $121.84 a barrel on Tuesday after a forecast that prices will just keep climbing.
Robust demand for crude and a weak dollar have fuelled the rally from a dip below $50 at the start of 2007 to $120 a barrel and above.
Crude oil futures leaped to a new all-time high above $120 a barrel, as supply concerns grew and the U.S. dollar weakened against the euro. Retail gasoline and diesel prices eased over the weekend, although pricier oil threatens to push them higher again.
Oil jumped more than 3 percent to over $116 a barrel Friday, after a report -- showing the U.S. economy lost fewer jobs than feared in April -- eased worries about the country's economic health.
Private equity firms are hiring more staff in emerging markets to keep up with faster growth opportunities in Asia and Eastern Europe.
Turkey looks set to be a good investment in the year ahead, as stocks have fallen heavily over the past few months, offering good buying opportunities, while the fundamentals look stronger than previously thought, analysts said on Tuesday.
The 28,000 delegates can now start to discuss the real issue of the day. Who will throw the most fabulous party? And more importantly: how the devil are they making enough money to pay for it?
The foreign exchange maneuver known as the carry trade looks set to continue unwinding, with bearish investors scared of risks. But buying opportunities might emerge from the trend, analysts told CNBC on Wednesday.
Or at least it will be soon. That's why overseas telcos like Turkcell are practically printing money.
Iraq's government on Sunday urged Turkey to withdraw its ground forces from northern Iraq, where they are battling Kurdish rebels.
Turkish warplanes, helicopters and artillery bombed suspected hideouts of Kurdish rebels in remote, mountainous terrain of northern Iraq Saturday.
A Turkish airliner crashed near the town of Isparta in central Turkey on Friday, killing all 56 people on board, officials said.
Turkey has a volatile economy whose growth rate has exceeded 6 percent in many years (and reached 9 percent in 2004), but suffered sharp reversals in 1994, 1999, and 2001.
Turkey's main stock index opened 6 percent down on Monday after a major rebel attack on Turkish soldiers increased pressure on the government to launch a cross-border incursion into northern Iraq.
Turkey's parliament resoundingly approved a motion on Wednesday allowing troops to cross into northern Iraq to crush Kurdish rebels hiding there, brushing aside appeals from the United States and the Baghdad government.
Only a fraction of global oil supply could be immediately threatened by a Turkish incursion into northern Iraq, but crude prices have surged on concern any conflict may escalate and disrupt the flow from the Middle East.
Gold hit a 28-year high on Tuesday, underpinned by record-high oil prices and geopolitical tension that raised the precious metal's profile.
Turkey will finance a $3.5 billion investment in Iranian gas production entirely from a state company of its own as U.S. opposition has put off foreign investors, Energy Ministry officials said on Wednesday.