*EU threatens new sanctions on Russia. The European Union threatened Russia with harsher sanctions over Ukraine, while Israel pounded targets across the Gaza Strip with no ceasefire in sight. Brent crude for September delivery fell 27 cents to $107.06 a barrel by 0700 GMT, after slipping 35 cents in the previous session.» Read More
The FMHR team offers instant analysis of the jobs report, the stock market and the presidential election. Meanwhile, the gas crisis continues in New Jersey, with CNBC's reporter team and John Eichberger, National Association of Convenience Stores.
Power outages at hundreds of gas stations and a distribution bottleneck due to flooding damage and power loss has caused a gasoline shortage in the New York metropolitan area that may not be cleared up for at least a week, according to industry experts.
Gasoline futures jumped as East Coast consumers—already stressed by Superstorm Sandy—joined long lines at the pump to fill up cars and gas cans to fuel home generators, causing shortages in some areas.
Robert Kunkel, Alternative Marine Technologies, discusses how tanker delays caused by the storm may impact oil prices.
Neil Atkinson, director of energy research & analysis at Datamonitor, tells CNBC that the damage wrought on oil refineries by Hurricane Sandy is not too serious and will not negatively affect energy markets in the long term.
Stephen Schork, The Schork Report, discusses the impact of superstorm Sandy on oil refineries. The FMHR traders discuss.
Alan McKim, CEO of Clean Harbors, reports cleanup crews are ready to respond.
Will Hurricane Sandy impact oil prices? Andy Lipow, Lipow Oil Associates president, weighs in.
Gasoline futures continued to trade higher in the electronic session Thursday as the latest track of Hurricane Sandy looked headed straight for the heart of the East Coast refining industry.
Diesel prices remain high, and Jimmy Haslam, Pilot Flying J chairman, discusses whether this is already trickling down into the rest of the economy.
Dave Barger, CEO of JetBlue, talks about the critical crude oil levels for the airline industry.
Just months after Delta Air Lines purchased a troubled East-Coast oil refinery in an effort to pare its fuel costs, United Continental Holdings, the nation’s biggest carrier, appeared to be exploring a similar move, according to someone familiar with the matter.
Saudi Arabia has offered its main customers in the US, Europe and Asia extra oil supplies through the end of the year, a sign the world’s largest exporter is worried about the impact of rising prices on the global economy. The FT reports.
The US Department of Justice intends to prove at trial that gross negligence or willful misconduct by BP caused the 2010 Deepwater Horizon disaster in the Gulf of Mexico, government lawyers have said, in the clearest statement yet that they are seeking the maximum possible penalties from the British oil group. The FT reports.
CNBC's Brian Shactman reports on how the shutdown of nearly all oil production in the Gulf is impacting oil prices.
A look at how most of the Gulf's major oil installations have fared since Hurricane Isaac swept through, with CNBC's Brian Shactman.
A look at how fallout from Isaac; conflict in Iran; and a fire at Venezuela's largest refinery is impacting energy prices, with Dan Yergin, IHS vice chairman.
Reports indicate many oil production facilities were spared from damage from Hurricane Isaac, but John Hofmeister, Citizens for Affordable Energy founder & CEO, explains why Port Fourchon is still very vulnerable.
The Romney camp just released its energy plan, which gives individual states greater control over their energy wealth. Dan Weiss, Center for American Progress, and Sterling Burnett, National Center for Policy Analysis, discuss.
CNBC's Brian Shactman reports on oil and gas productions shutting down ahead of Hurricane Isaac, and Valero shutting down 2 refineries.