NBC's Aymen Mohyeldin reports that thousands of homes are under threat from wildfires in California.» Read More
Insured losses from California wildfires could exceed $1.6 billion if the fires continued tospread, a risk modeling firm said Thursday.
Wildfires continued to burn out of control across Southern California for a third day on Tuesday as 500,000 people fled the San Diego area, and firefighters made a desperate stand to save a mountain town ringed by flames.
The corporate headquarters of Sony Electronics has been closed Tuesday for the second day due to the wildfires ravaging Southern California.
Amid soaring oil prices and ballooning global fuel demand, the Bush Administration is calling on Americans to help conserve energy on a personal level.
There is a group of do-gooders based in St. Louis who hold blood drives and sell t-shirts and generally try to educate people about how best to prepare for disaster. Any disaster. Like, even the ultimate-worst-horrible-oh-my-goodness-I-can't-believe-this-is-happening-to-me kind of disaster. Just would that disaster be? Well, the group is called the Zombie Squad (or ZS), and it claims the worst of the worst is... zombies.
Oil tycoon Boone Pickens told CNBC that the price of crude oil could hit $100 a barrel by next year. “The trend is up, demand is up and supply is flat, so it’s got to go on up,” said Pickens, CEO of BP Capital.
OPEC would likely hold consultations about boosting supply again if the price of oil stayed above $80 a barrel for more than 15-20 days, an OPEC source said on Tuesday.
It’s been a busy week for us in the news industry. Japan’s prime minister resigned and was promptly hospitalized; several big earthquakes hit Indonesia; Hurricane Humberto came out of nowhere, hitting the Texas-Louisiana coast with 85-mph winds; and the news highlighter for my little Commodity Store this week – crude oil prices hitting a record peak, crossing the $80 threshold to settle at $80.20 a barrel in New York on Thursday.
The Organization of Petroleum Exporting Countries (OPEC) will likely keep its official flow of oil steady when its meets Sept. 11 in Vienna, despite concerns that already high prices will spike when winter demand increases.
CNBC Europe's Steve Sedgwick reports from the OPEC meeting in Vienna and has a new idea for making member delegates feel welcome.
The oil market is well balanced with no shortage of supplies, OPEC's president said on Thursday, the latest comment by the producer group implying it will maintain output curbs at its meeting next week.
Royal Dutch Shell Plc and Dow Chemical are in talks with the Iraqi government to renovate and expand a chemical plant in southern Iraq at a cost of up to $2.1 billion, the Iraqi industry minister said.
The 1983 comedy movie 'Trading Places' should be required viewing for those with a taste for investing in commodity markets. Now I've got your attention ... orange juice futures, or to go by their official market designation -- Frozen Concentrated Orange Juice -- take center stage this week. Especially now, during hurricane season.
“It’s later than we think” warns a new and grim report on global warming. 2,500 of the world’s leading climate scientists say global warming is so severe it will continue for centuries leading to a far different planet. As you can imagine, the findings presented by the International Panel on Climate Change have sparked a wide range of reactions. On CNBC’s “Squawk Box” Joe Kernen spoke with an esteemed scientist who believes there might be a dirty little secret behind them.