The strategic southern Iranian Port of Chabahar will open a sea-land access route to central Asia. » Read More
*Iran, Nigeria supply concerns underpin prices. LONDON, Oct 24- Oil rose on Wednesday, snapping a six-day losing streak, after economic data from China suggested a gradual recovery in the world's No. 2 oil consumer, though weak European data kept the gain slim. Brent crude was up 40 cents at $108.65 a barrel by 1020 GMT.
*Coming Up: EIA data 1430 GMT, Federal Reserve policy decision 1815 GMT. SINGAPORE, Oct 24- Oil rose on Wednesday, snapping a six-day losing streak, after economic data from China suggested a gradual recovery in the world's No. 2 oil consumer, though weak European data kept the gain slim. Brent crude was up 63 cents at $108.88 a barrel by 0855 GMT.
TEHRAN, Iran-- Iran's intelligence chief says up to 50 people have been arrested in connection with the decline in the value of the national currency and the chaos that followed the slide. Iran's rial has lost nearly 40 percent of its value against the U.S. dollar this month.
Sanctions against Iran, imposed by the U.S. and the European Union, are important and effective but more needs to be done, according to Israeli Finance Minister Yuval Steinitz.
Hackers picked the one day of the year they knew they could inflict the most damage on the world’s biggest oil producer, Saudi Aramco — and U.S. intelligence officials believe the attack came from Iran. The New York Times reports.
SINGAPORE, Oct 24- Brent crude futures climbed towards $109 a barrel on Wednesday, snapping a six-day losing streak after economic data from China suggested a strengthening recovery in the world's No. 2 oil consumer. Brent crude had risen 46 cents to $108.71 a barrel by 0239 GMT.
DUBAI, United Arab Emirates-- In back-to-back Asian summits this month, Iran's president made sure to carve out special time to look east. At one gathering in Azerbaijan, Mahmoud Ahmadinejad reminded the president of Kazakhstan about the vision of a railway linking the heart of Central Asia with Iran's warm ports.
In an exclusive interview, Yuval Steinitz, Israel's Finance Minister tells CNBC that sanctions imposed on Iran are not sufficient and haven't changed the countries behavior and therefore a clear military ultimatum is needed.
PARIS-- The extent of the European car industry's troubles was laid bare Wednesday, when France's government tossed a financial lifeline to the continent's No. 2 automaker, Peugeot Citroen, and Ford said it would shut a plant in Belgium, cutting 9,500 jobs.
The Dow had the worst day since June, reports CNBC's Brian Shactman; and discussing the rough day for stocks, with David Goldman, Macro-Strategy; Jeffrey Kleintop, LPL Financial; and Brian Kelly, Shelter Harbor Capital. Addison Armstrong, Tradition Energy, also offers insight on Iran sanctions.
*DuPont's earnings forecast, job cuts weigh on oil. Chemical company DuPont lowered its earnings forecast, announced 1,500 job cuts and posted lower-than-expected profit, helping push equities, oil and other commodities lower.
The Dow Jones industrial average posted its biggest point drop since June, shedding about 220 points, as large multinational companies including Dupont and United Technologies reported disappointing profits and earnings outlook.
GAZA- The Emir of Qatar embraced the Hamas leadership of Gaza on Tuesday with an official visit that broke the isolation of the Palestinian Islamist movement, to the dismay of Israel and rival, Western-backed Palestinian leaders.
*DuPont's earnings forecast, job cuts weigh on oil. Chemical company DuPont cuts its earnings forecast and announced 1,500 job cuts in its third-quarter earnings report that missed Wall Street expectations, helping push equities, oil and other commodities lower.
NEW YORK, Oct 23- Global shares and the euro tumbled on Tuesday after a slew of weak U.S. corporate earnings results and credit ratings downgrades of several indebted regions of Spain.
*OPEC secretary general post comes up in 2013. LONDON/ DUBAI, Oct 23- OPEC remains in a stalemate over selecting its next secretary general, delegates to the producer group said on Tuesday after a two-day meeting, due to rivalry between four member-countries over its top administrative post.
A four-year boom in U.S. oil production is accelerating so fast it could help soon make the U.S. the world's top producer of oil and liquid hydrocarbons. The U.S. passed Russia this year, and is now second behind Saudi Arabia. Source: U.S. Energy Information Administration.
NEW YORK-- U.S. oil output is surging so fast that the United States could soon overtake Saudi Arabia as the world's biggest producer. The Energy Department forecasts that U.S. production of crude and other liquid hydrocarbons, which includes biofuels, will average 11.4 million barrels per day next year.
The risk of a devastating cyberattack on the United States is real. There's no question the country remains vulnerable to an "electronic Pearl Harbor," as debate continues on the role the federal government should play in securing computer networks that control the nation's electrical grid, water supply and other critical sectors.
NEW YORK-- Bob Schieffer took a light hand Monday as moderator of the final presidential debate, ending with advice from his mother: "Go vote.