Algerian special forces have found the bodies of two Canadian Islamist fighters after a bloody siege at a desert gas plant, a security source said on Monday, as the death toll reached at least 80 after troops stormed the complex to end the hostage crisis.» Read More
Post-Gaddafi Libya could begin pumping oil in the next few months, as rebels secured oil infrastructure around Tripoli and edged closer to taking complete control of the country. However, oil markets are shifting their attention to concerns that the US might undertake further fiscal stimulus.
Oil companies are understood to be preparing to move back into the North African country, which used to pump 1.6 million barrels per day before the uprising against Muammar Gaddafi's government began six months ago.
Goldman Sachs gave a paid internship to a top Libyan official’s relative while the bank was carrying out lossmaking trades on behalf of the country’s sovereign wealth fund, the Financial Times has learnt.
Société Générale structured a $1 billion bet on its own shares for Libya's sovereign wealth fund after the Jérôme Kerviel fraud, the Financial Times reports.
The anti-corruption group Global Witness says it has obtained a document that details for the first time the involvement of Western banks—including some in the U.S.—in financing the regime of Libyan leader Moammar Gaddhafi.
Muammar Gaddafi's forces used tanks to shell the besieged western town of Misrata on Monday, as rumors fueled fears that the Libyan leader was preparing to use chemical weapons.
A NATO missile strike killed Moammar Gadhafi's youngest son and three grandchildren on Saturday but the Libyan leader survived, a government spokesman said.
NATO powers rejected Moammar Gadhafi's call for a cease-fire and negotiations on Saturday, saying they need "actions not words," and aid ships were prevented from docking in a besieged coastal city while the alliance swept the port for mines.
Crude supplies are up over a million barrels, but the decline in gasoline is far more than analysts were expecting, reports CNBC's Sharon Epperson. Also, a look at the recent rise in oil prices, and the hunt for cheap oil, with Addison Armstrong, Tradition Energy, and CNBC's Simon Hobbs.
CNBC's Sharon Epperson discusses the day's activity in the commodities markets, and looks ahead to where oil is headed, particularly in light of Goldman Sachs' recommendation that investors take profits.
Bahrainis and expats living in the Kingdom of Bahrain have been living history over the past month as the events in Tunisia and Egypt inspired the mostly Shia majority in Bahrain to take the streets demanding political, economic and social reform.
Libyan rebels are set for their first oil export as soon as Tuesday as they seek funding to sustain their uprising against Muammer Gaddafi's 41-year rule of the north African nation, the Financial Times reports.
A Libyan government envoy has begun a trip to Europe to discuss an end to fighting, but gave no sign of any major climb down in a war that has ground to a stalemate between rebels and forces loyal to Muammar Gaddafi.
A week or so before Obama launched the attack on Libya, we warned that while an air-campaign could likely ground Gadaffi’s air force—hopes that it would accomplish much more were unfounded.
The President delivered an excellent speech Monday night on the situation in Libya. He covered the reasons, thoughts, negotiations with allies etc. that explained very well why he took the action he did. You actually didn't need to watch the speech. You don't even have to read the transcript today. All you have to do is look at where the story is positioned in the papers to see how good it was.
After missteps addressing Congressional concerns, President Obama has articulated clearly the goals, means and duration of the U.S. military action in Libya. Critics may say he did not address those issues, but he did and the answers are not acceptable.
The bulls were in charge last week, taking advantage of a big drop in volatility to stealthily sprint ahead. Stocks will try to keep the momentum going Monday, despite geopolitical risk and more potentially horrid housing data.
Despite the ongoing crisis in Japan and Portugal's pending implosion, there's the iPad to look forward to.
The international community has hit Muammer Gaddafi with a raft of sanctions and asset freezes aimed at cutting off his funding. But the embattled Libyan leader is sitting on a pot of gold, reports the Financial Times.
As anti-aircraft fire rang out across Tripoli for the third night in a row and US airstrikes yet to slow, one analyst told CNBC that there is a very real chance of Libya being divided between the Gaddafi-controlled West and rebel-controlled East.