Oil hit a fresh peak near $120 a barrel on Monday as supply outages in Nigeria and Britain shut down nearly 2 million barrels per day (bpd) of output in the Atlantic Basin.

Exxon Mobil, Royal Dutch Shell and BP are expected to report bumper first-quarter profits next week, thanks to record crude prices, but $110 per barrel oil will also squeeze refining profits and delay a return to oil production growth.

Are hedge funds and investment banks unfairly driving up fuel costs for families in the U.S. -- or are soaring energy prices the result of a strong global economy and a free financial system? Industry officials are debating the question -- and will present their arguments to CNBC on Thursday.

The concept of "peak oil" could  be thrown out the window if vast offshore and unconventional sources can be developed. Two experts weigh in on the subject.

A day after the Federal Reserve cut interest rates another three-quarters of a point, CEOs joined Squawk Box to share their outlook on the economy and markets.