Brent held near $108 a barrel as a worsening crisis over Ukraine stoked supply disruption fears.» Read More
U.S. crude futures may test $100 a barrel this week - possibly breaching triple digits - after an attack against a gas facility in OPEC member Algeria on Wednesday escalated into an international hostage crisis, leading to renewed fears that supply may be disrupted in other politically-unstable parts of North and West Africa.
It has been a harrowing start to 2013 for the global energy industry. BP, Statoil and the joint operators of the In Amenas natural gas plant in Algeria are slowly coming to terms with last week's brutal 4-day occupation of the isolated desert facility where 38 mainly foreign hostages were killed by Islamist militants.
The gas plant at In Amenas is giving up its secrets as Algerian special forces picking their way through the vast complex find dozens of bodies, some charred beyond recognition in the bloody end-game to one of the worst hostage crises in years.
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.
Terrorist want to exchange hostages for Omar Abdel Rahman, reports CNBC's Jackie DeAngelis. Also, a look at the impact on energy prices, with CNBC's Sharon Epperson.
Oil is slipping slightly this morning as the Algeria hostage crisis continues, with Boris Schlossberg, Managing Director, BK Asset Management; Kevin Book, ClearView Energy Partners; Barry Knapp; Barclays; and Rebecca Patterson, Bessemer Trust.
CNBC's Melissa Lee and the Fast Money traders discuss the day's top trades and the stocks they'll be watching Friday.
Brent crude rose above $112 a barrel on Tuesday, after Japan pledged to pump in more money to boost its economy.
Brent futures lost ground on Monday after a three-day rally last week, dropping further below $112 per barrel as economic worries and concerns of oversupply offset fears of unrest in the Middle East.
Oil prices rose, recovering from an earlier dip after news that the U.S. House of Representatives will consider a bill to raise the debt ceiling enough to allow the country to pay its bills for another three months.
The "awakening dragon" that is the growing Chinese economy will help boost oil demand in 2013, the International Energy Agency (IEA) said on Friday as it raised its 2013 demand forecast.
In its report for January, the Organization of Petroleum Exporting Countries said the United States in 2013 may post the highest oil supply increase among non-member states.
CNBC's Sharon Epperson provides the latest inventory supply numbers on natural gas.
Oil rose on Thursday as financial markets got a boost from improving U.S. economic data showing jobless claims fell to a five-year low and housing starts rose sharply.
Twenty-five foreign hostages escaped and six were killed on Thursday when Algerian forces launched an operation to free them at a remote desert gas plant, Algerian sources said, as one of the biggest international hostage crises in decades unfolded.
CNBC's Melissa Lee and the Fast Money traders discuss the day's top trades and the stocks they'll be watching Thursday.
Global oil markets, under pressure from increased North American production, are facing the return of a familiar upside risk - the threat of supply disruption from North Africa after an attack on an Algerian gas field swiftly escalated into an international hostage crisis.
Authorities in Williston, N.D., say that crimes against women have increased in this area, where single men greatly outnumber single women. The New York Times reports.
CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.
Chevron has signed production-sharing contracts with CNOOC for two exploration blocks in the South China Sea even after drilling three dry holes there last year.