David Lennox, Resources Analyst at Fat Prophets, expects oil companies to report major cuts in revenue reports moving forward, with the junior firms bearing the brunt of the impact.» Read More
Iranian President Mahmoud Ahmadinejad’s five-day tour of Latin American countries comes at a time of rising tensions with the United States and growing international isolation. The US State Department described Iran’s search for friends as “desperate,” while US Treasury Secretary Timothy Geithner is expected to ratchet up the pressure in a visit to China and Japan.
Oil prices could spiral out of control and potentially herald deeper economic hardship for Europe if the European Union joins the US in banning Iranian oil imports, analysts warned on Friday.
Threats from Iran to disrupt oil shipments through the Strait of Hormuz continue, and light sweet crude is bumping up against its 10-month high, John Kilduff, Again Capital, and Edward Morse, Citi, discuss.
Any European embargo of oil imports from Iran would have a direct effect not just on Iran, but also on the most prominent consumers of Iranian oil and refiners in the Mediterranean, according to a series of recent reports.
The anxious exchange of statements and explicit threats between the U.S. and Iran mark a notable escalation and leave the energy markets struggling to understand the implications.
Oil is as low as it is going to go, says Joe Petrowski, Gulf Oil CEO, who shares his forecast on whether there will be a major fluctuation in the price of oil due to the decisions in the Middle East.
If Iran shuts the Strait of Hormuz "that would be cataclysmic for the oil price and the economy, particularly if they figure out a way to shut it down for an extended period," says former Shell executive John Hofmeister.
Breaking down the current state of the gold market as it precious metal declines for the sixth straight session today, with Rich Ilczyszyn, iiTrader founder and chief market strategist.
The United States economy managed to cope this year despite triple-digit prices for oil. The lessons may come in handy, economists say, because those prices will probably be sticking around. The New York Times reports.
For the Iranians to pull off shutting down the Strait of Hormuz would be armageddon-like, says John Hofmeister, former president/CEO Of U.S. Operations, Shell Oil Co. Who adds, the U.S. should be working harder to preserve its own energy.
Sharing perspective on trading tensions around Iran's threat to close the Strait of Hormuz and cut oil supply, with Stephen Schork, Schork Report.
A senior Iranian official on Tuesday delivered a sharp threat in response to economic sanctions being readied by the United States, saying his country would retaliate against any crackdown by blocking all oil shipments through the Strait of Hormuz, a vital artery for transporting about one-fifth of the world’s oil supply.
Oil prices are bubbling higher on concerns geopolitical risks to global oil supplies are rising, amid an increase in sectarian violence in Iraq and as Iran reacts to the prospects of increased sanctions.
CNBC's Mary Thompson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.
CNBC's Bertha Coombs discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.
With one final shopping week to go, investors will be keeping their eye on the consumer to see how holiday sales shake out and what it might mean for the economy.
The negativity that’s driving the euro lower could keep pressure on stocks and commodities prices Thursday.
CNBC's Eamon Javers has the details on the federal government auctioning off land for oil drilling in New Orleans.
The OPEC meeting is one of the bigger events for markets on Wednesday, and traders will also be watching Europe as the euro continues to weaken on disappointment about the response to the sovereign debt crisis.
Trading a bullish outlook on oil, as OPEC production nears highs, with Paul Sankey, Deutsche Bank oil analyst, raising a "buy" rating on, Murphy Oil Corp, Hess Corp, and Marathon Oil.