GO
Loading...

Middle East

More

  • Brent holds above $60 after Saudi price hikes Tuesday, 3 Mar 2015 | 10:10 PM ET

    *Fighting escalates in Libya before UN talks. SINGAPORE, March 4- Brent held above $60 a barrel on Wednesday supported by a hike in Saudi crude prices and strikes on oil facilities in Libya. In a move widely seen as a vote of confidence by Saudi Arabia in demand recovery, the OPEC kingpin raised the official selling prices for its oil deliveries to Asia and the United...

  • NYMEX-U.S. oil holds above $50 ahead of EIA data Tuesday, 3 Mar 2015 | 7:08 PM ET

    SINGAPORE, March 4- U.S. crude held on to overnight gains to stay above $50 a barrel on Wednesday, supported by geopolitical tensions in the Middle East and a rise in Saudi oil prices. *Saudi Arabia raised the official selling prices for its oil deliveries to Asia and the United States on Tuesday, in the latest signal OPEC's largest exporter is seeing signs of...

  • NEW YORK, March 3- Oil rebounded on Tuesday as Israeli Prime Minister Benjamin Netanyahu warned the Obama administration against accepting a weak nuclear deal with Iran, while rival Libyan forces targeted oil terminals in the African nation. Higher prices imposed by Saudi Arabia on its crude buyers in Asia, the United States and northwest Europe was another...

  • *Netanyahu hits out against Iran in U.S. Congress, fueling rise. NEW YORK, March 3- Oil rebounded on Tuesday as Israeli Prime Minister Benjamin Netanyahu warned the Obama administration against accepting a weak nuclear deal with Iran, and rival Libyan forces targeted oil terminals in the African nation. Gains accelerated just before noon in New York when...

  • March 3- Royal Bank of Scotland is aiming to cut as many as 14,000 jobs in its investment banking units across the United States and Asia, the Financial Times reported. Of the total 18,000 people who work for RBS' investment banking unit, it aims to slash as many as four of every five positions by 2019, while overhauling the back-office systems to automate them, the...

  • *Saudis fear Obama wants Iran deal "whatever the cost". Secretary of State John Kerry flies to Riyadh this week to try to reassure King Salman that any nuclear deal with Iran will be in Saudi interests, despite the kingdom's fears that it may boost Tehran's backing for Shi'ite Muslim groups in the region. While the main critics of the U.S. push for a nuclear deal with...

  • Commodities tomorrow: The Iranian oil issue  Tuesday, 3 Mar 2015 | 4:00 PM ET

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Israeli PM Netanyahu's comments spiked oil until Obama responded. Oil still closed over $50.

  • Israel's Netanyahu warns against Iran nuclear deal Tuesday, 3 Mar 2015 | 1:55 PM ET
    Israeli Prime Minister Benjamin Netanyahu addresses a joint meeting of Congress in the House Chamber on Capitol Hill in Washington, March 3, 2015.

    In the most anticipated speech to the U.S. Congress by a foreign leader in years, Netanyahu said Iran's regime was "as radical as ever."

  • *Netanyahu hits out against Iran in U.S. Congress, fuelling rise. NEW YORK, March 3- Oil rebounded on Tuesday as Israeli Prime Minister Benjamin Netanyahu warned the Obama administration against accepting a weak nuclear deal with Iran and rival Libyan forces targeted oil terminals in the African nation. Gains in Brent accelerated after Netanyahu told the U.S....

  • *Coming Up: American Petroleum Institute data at 2130 GMT. Higher prices imposed by Saudi Arabia for its crude buyers in Asia, the U.S. and northwest Europe did not immediately boost benchmark Brent and U.S. oil futures, although some traders saw the move as supportive. Brent jumped almost 3 percent, trading firmly above the $60- a-barrel support level, as rival...

  • *Israel, Iran tight-lipped on decades-old arbitration. *Pressure in Israel to remove secrecy. But since the 1979 revolution that brought the ayatollahs to power, Iran has been demanding its share of revenues and assets that remained in Israel.

  • UPDATE 6-Oil trades near $61 on Libya clashes Tuesday, 3 Mar 2015 | 9:05 AM ET

    *Brent just under $61/ barrel, WTI at $50. LONDON, March 3- Oil rose more than $1 in volatile trade on Tuesday as fighting in Libya and signs of stronger global demand outweighed persistent concerns about a supply glut. Brent crude futures rose more than $2 at one point before slipping back to trade just below $61, recovering from their biggest one-day decline in a...

  • *Iraq faces $21 billion budget deficit in 2015. BAGHDAD, March 3- Iraq is discussing a possible bond issue worth nearly $6 billion with Deutsche Bank and Citibank as part of its efforts to cover a huge projected budget deficit this year, Finance Minister Hoshiyar Zebari said. State revenues have tumbled along with falling oil prices just as Iraq faces a costly...

  • *Brent near $62/ barrel, WTI above $50. LONDON, March 3- Oil rebounded by more than $2 towards $62 a barrel on Tuesday as fighting in Libya, stronger equity markets and firm demand helped Brent futures recover from their biggest one-day loss in a month. Brent for April delivery traded more than $2 higher at $61.67 a barrel by 1220 GMT.

  • DUBAI, United Arab Emirates— The United Arab Emirates' budget carrier flydubai, in its fifth year of operation, has turned a profit of $68 million out of total revenue of $1.2 billion last year. The company's earnings report released Wednesday shows flydubai's profits were around 12 percent higher than in 2013. The fast-growing airliner added 23 new routes last...

  • *Brent above $60/ barrel, WTI around $50. LONDON, March 3- Oil rebounded by more than $1 to above $60 a barrel on Tuesday as fighting in Libya, stronger equity markets and firm demand helped Brent futures recover from the biggest one-day loss in a month. Air strikes on Libyan oil ports by forces of a rival government that controls Tripoli renewed concerns over supplies...

  • Iraq battles to rebuild despite war and oil slump Tuesday, 3 Mar 2015 | 4:00 AM ET

    *New city aims to house half a million people near Baghdad. *Challenges face mega projects planned for Basra, Baghdad. BAGHDAD, March 3- On a main highway south of Baghdad, dozens of buildings rise up from the Iraqi plains, the first blocks of a multi-billion-dollar city emerging from a landscape more accustomed to conflict and crisis than glitzy new development.

  • Secretary of State John Kerry flies to Riyadh this week to reassure King Salman that any nuclear deal with Iran is in Saudi Arabia's interest, despite the country's fears it may boost its rival's support for Shi'ite Muslim interests in the region. But Saudi Arabia is sceptical too that any agreement would only let Iran devote more cash and energy to Shi'ite...

  • RIYADH, March 3- Saudi Arabia's subtle change of energy policymaker line-up since the accession of new King Salman in late January appears to give the monarch's inner circle a firmer hand on the kingdom's oil strategy than previous rulers have enjoyed. The most notable change was the promotion of the king's son Prince Abdulaziz bin Salman, long a member of the No....

  • *But high U.S., Middle East production maintains supply glut. *Asian economies benefit from cheap oil- ABN Amro. Front-month Brent futures were trading up 53 cents at $60.07 a barrel by 0807 GMT, though significantly below the day's high of $60.74.