Iran is offering more flexible terms on oil price fluctuations and investment risks to make the sector attractive, the Financial Times reports.» Read More
Fears are growing that rising gasoline prices could stifle economic recovery. Those rising gasoline prices are becoming a subject of hot political debate in a presidential election year. Geopolitics is behind the rising prices, most noticeably due to the increasing tensions over Iran’s nuclear program.
With the most recent data from the Energy Information Administration and the CIA World Factbook, here are the countries with the biggest proven oil reserves.
Insight on whether the government can reduce the price of oil by tapping into reserves, with Rep. Peter Welch, (D-VT), who says reserves should be tapped in order to spook speculators and drop prices.
"Of the last $20 in the Brent crude oil price rise, I would only attribute about $5 to Iran and 15 to liquidity and continued quantitative easing and just the fact that the supply of money continues to rise," Sabine Schels, senior director and global commodity strategist at BofA Merrill Lynch Global Research, told CNBC, because it is "dropping the value of money, relatively to the value of real asset," she explained.
Rising oil prices have displaced Greece as a source of investor anxiety, a new HSBC report says, warning that if the trend of rising oil prices persists, a fragile economic recovery in the developed world could quickly be derailed and inflation could return to emerging markets.
A lot is riding on Friday's jobs report: Expectations are high but traders say the market needs a good report if this rally is going to continue.
President Obama will address the pro-Israel group, AIPAC before a crucial meeting with Israeli Prime Minister, Netanyahu on Monday. Discussing America's policy on Iran and whether Obama will be able to convince Netanyahu he will be on Israel's side, with Jeffrey Goldberg, The Atlantic, and Peter Brooks, Heritage Foundation.
Tensions with Iran, rather than supply and demand, may be the reason gas prices have been consistently climbing, but what has yet to be seen is the impact that this will have on the economy and the country on the whole.
CNBC's Yousef Gamal El-Din has the latest on news from Iran and reports of a pipeline explosion in Saudi Arabia impacting oil, with Sean Cota, Lake Rudd & Company.
The sudden spike in oil prices following Thursday's report of a pipeline explosion in Saudi Arabia highlights how nervous traders are about turmoil in the region.
Victor Shum, Managing Director, Purvin & Gert, says the spike in oil prices based on mere speculation of an explosion shows the oil market is extremely sensitive to major supply disruptions.
The “Fast Money” pros weren’t concerned that the effect of a Saudi pipeline explosion - false, as it turns out - would last.
Iranians head to the polls on Friday for the first time since disputed presidential elections in 2009, and although most experts do not believe this week's parliamentary elections will witness similar tension, it may still prove a crucial turning point in a domestic power struggle that has been in the making for years.
US-Israeli relations are expected to come under further pressure during a Washington visit by a high-level delegation from the Israeli government, to include Prime Minister Benjamin Netanyahu and Defense Minister Ehud Barak next Monday.
Oil prices will fall to below $100 a barrel within the next month because markets are over estimating the potential of Western military action against Iran, said Andrew Su, CEO of commodity and currency broker, Compass Global Markets.
HSBC Holdings said on Monday it will likely face criminal or civil charges from an expanding investigation into its ties to allegedly illegal money transactions, including some tied to Iran.
Oil prices are on a roll, and this strategist thinks its bad news for the buck.
The standoff - an escalating tit-for-tat combination of sanctions and counter-threats - is unlikely to be resolved in the coming weeks.
The steep rise in oil prices due to concern over cuts in supply from OPEC member Iran is the single-biggest risk to the performance of Asian markets, Kelvin Tay, Chief Investment Strategist, Singapore UBS Wealth Management told CNBC on Friday.
Oil prices are poised to gain for the third straight week, undermining global equity market sentiment and threatening the fragile economic recovery, CNBC's weekly survey of market sentiment showed.