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  • LONDON, May 25- Crude oil futures edged up on Monday as firm global demand vied with a strong dollar, but a public holiday in the United States and much of Europe kept trading muted. Front-month Brent crude gained 6 cents to $65.43 a barrel by 1400 GMT, after touching an intraday low of $64.72. The market drew support from figures showing strong demand across Asia and...

  • UPDATE 4-Oil prices edge down as dollar strengthens Monday, 25 May 2015 | 6:58 AM ET

    LONDON, May 25- Crude oil futures edged lower towards $65 a barrel as the dollar strengthened on Monday, with a public holiday in the United States and much of Europe keeping trading muted. Front-month Brent crude shed 17 cents to $65.20 a barrel by 1052 GMT. U.S. crude was down 35 cents at $59.37 a barrel.

  • ABU DHABI, United Arab Emirates— The United Arab Emirates on Monday laid out a strategic framework for a newly created space agency that aims to integrate various arms of the Gulf federation's burgeoning space industry. "The United Arab Emirates is seeking to confirm its status as a spacefaring nation in which the industry plays a key role in sustainable...

  • TEHRAN, Iran— Iran will raise gasoline prices by some 40 percent beginning Tuesday, the country's official news agency reported, the latest cut to the Islamic Republic's fuel subsidies that cost it some $32 billion a year. Iran, an OPEC member, consumes 70 million liters of gasoline daily, with some 10 percent refined and imported from abroad.

  • SINGAPORE, May 25- If you are looking for evidence that China is becoming more assertive in the global economy, then the trading of physical crude oil in Asia is a good example. Chinaoil, the trading arm of state-controlled giant PetroChina, bought a record 55 cargoes in the Middle East crude market in April, beating its previous high of 47 in October last year.

  • LONDON— With its classic red phone booth, pub, and medieval church, Harmondsworth's center looks quintessentially British. Harmondsworth is under threat because London and southeastern England need more airport capacity to meet the growing demands of business travelers and tourists. Heathrow and rival Gatwick, 30 miles south of central London, have offered...

  • SINGAPORE, May 25- U.S. crude futures rose in early Asian trading on Monday as high demand at the start of the North American driving season pushed up domestic markets, while international benchmarks were supported by firm Asian consumption and Middle East fighting. "Prices could be buoyed this week as markets focus on rising demand and geopolitical tensions... in...

  • KRG President: Proud of Kurdistan's ability to stop ISIS

    CNBC's Hadley Gamble asks Masoud Barzani, President of Kurdistan Regional Government (KRG) of Iraq, how worried he is about the future of Iraq amid ISIS' advance.

  • APEC trade chiefs vow to speed up work in WTO Sunday, 24 May 2015 | 7:32 AM ET

    MANILA, Philippines— Trade ministers from 21 Asia-Pacific countries on Sunday issued strong support to the World Trade Organization's efforts to boost global trade amid a flurry of regional free trade agreements. The FTAAP goal is being pursued as talks for the Trans-Pacific Partnership free trade initiative of 12 countries— including the United States,...

  • UPDATE 1-ECB's Draghi warns divergence a threat to euro Saturday, 23 May 2015 | 12:31 PM ET

    SINTRA, Portugal, May 23- Stark structural differences between countries in the euro zone could unravel the currency union, European Central Bank President Mario Draghi warned on Saturday. Differences in the cultures of the 19 countries in the euro currency bloc, from Cyprus, close to the Middle East, to Ireland or Finland in the north have often extended to the...

  • The Middle East and North Africa have the world's highest rate of youth unemployment, with 29.5 percent, up two percentage point from over a decade ago, according to the International Labor Organization. Citing figures by the International Monetary Fund, he said the gender gap in the Middle East is three times bigger than that in most developing economies.

  • Has poor governance in the Middle East aided ISIS? Friday, 22 May 2015 | 2:58 PM ET
    An Iraqi fighter from the Shiite Muslim Al-Abbas popular mobilization unit monitors from his position near the village of Nukhayb west of Baghdad, on May 19, 2015.

    A senior political figure from the Middle East said that a lack of governance and "violent" policies were partly responsible for the rise of ISIS.

  • Shake Shack extends run on "chicken shack" talk Friday, 22 May 2015 | 2:04 PM ET

    NEW YORK— Shake Shack's shares surged to another record high Friday, fueled in part by speculation that the hamburger chain could be thinking about dishing out chicken. Last month, a unit apparently tied to Shake Shack's parent company applied to trademark the words "Chicken Shack" for chicken sandwiches. Earlier this month, Shake Shack Inc. reported...

  • NEW YORK, May 22- Global equity markets dipped modestly Friday but remained near record highs, while the yield on U.S. government debt rose as a gain in core consumer prices in April should keep the Federal Reserve on course to raise interest rates later this year. Fed Chair Janet Yellen is expected to acknowledge recent sluggishness in the U.S. economy, including a...

  • *Gaza's economic output contracted 15 percent in 2014. JERUSALEM, May 22- Gaza's economy is in a worse state than any other in the world, with unemployment at a global high, output contracting sharply and the long-term prospects worrying, the World Bank said on Friday. "Blockades, war and poor governance have strangled Gaza's economy and the unemployment rate is now...

  • *Islamic State advances in Iraq, Syria raise supply worries. LONDON, May 22- Oil prices slipped on Friday as worries over the impact of war in the Middle East on crude supplies were outweighed by reports of profit-taking ahead of a long weekend. "No one wants to hold open positions ahead of a long weekend so books are being squared, bringing some consolidation," said...

  • *Islamic State advances in Iraq, Syria raise supply worries. LONDON, May 22- Oil prices steadied on Friday as worries over the impact on crude supplies of war in the Middle East were balanced by reports of profit-taking ahead of a long weekend. "No one wants to hold open positions ahead of a long weekend so books are being squared, bringing some consolidation," said...

  • Low oil has been good for Middle East: CEO   Friday, 22 May 2015 | 3:10 AM ET
    Low oil has been good for Middle East: CEO

    Majid Jafar, CEO of Crescent Petroleum, says the low oil price has forced Middle Eastern producers to focus on efficiency.

  • *Coming up: Baker Hughes weekly U.S. rig data. SINGAPORE, May 22- Oil prices edged down on Friday after rising more than 2 percent in the previous session, buoyed by lower U.S. crude inventories and geopolitical tension in the Middle East. West Texas Intermediate for July delivery was at $60.61 a barrel by 0452 GMT, down 11 cents on the day but poised to post gains for the...

  • NEW YORK, May 22- As the United States raced over the past five years toward becoming a global petroleum powerhouse, the world's biggest oil exporter Saudi Arabia quietly seized a market milestone from America: the largest source of peak summer demand. From June through August, when temperatures in Riyadh routinely rise above 100 degrees Fahrenheit, Saudi...