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CNBC's Sharon Epperson discusses the day's activity in the commodities markets, including a number of refinery closures that could help drive the price of gasoline higher.
Iranian authorities have reacted to the decision by the European Union on an embargo by calling for an immediate halt to oil sales to the continent. In a statement on its website, the Iranian Oil Ministry described the European Union’s decision as “hasty” and “a political game”.
Helima Croft, Barclays Capital, discusses the geopolitical implications of the EU's oil embargo on Iranian imports, and the U.S. sanctions on Iran's third largest bank.
CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.
CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks ahead to where oil, natural gas and precious metals are likely headed next week.
CNBC's Sharon Epperson reports on the continuous slide in natural gas prices, now at a 10-year low, and how investors who bet on a bounce are getting burned.
It's a vast, valuable and diverse category of art , and taking a narrow religious view could hurt you as an investor.
CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow after the inventory reports.
Inflation in the world’s top oil exporter Saudi Arabia has slowed to a four-year low of 5 percent in 2011, despite a significant ramp-up in government spending in the wake of the Arab Spring.
The Iranian Foreign Ministry has confirmed it has received a letter from the United States concerning the Strait of Hormuz, “via three different channels.” Authorities were considering whether to reply, although the contents of the letter were not divulged.
As long as it stays with talk, there is sufficient supplies and alternative options that I am not overly concerned with the bottom line, says Nansen Saleri, Quantum Reservoir Impact president/CEO.
European refiners have started to sever links with Iran, stopping spot purchases of crude ahead of a European Union meeting later this month that could impose a full oil embargo on Tehran, the FT reports.
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.
The fundamentals in the market are most likely to get more bearish because of the situation in Europe, says Michael Lynch, Strategic Energy & Economic Research president, who also adds any headlines coming out of the Middle East will spark concerns from traders.
If Iran were to shut down the Strait of Hormuz, Brent crude would surge to between $150 and $200 a barrel, according to an oil analyst with Societe Generale.