Saudi Arabia derives 80 percent of its revenue from oil and has a budgetary "break-even" point almost double the current per-barrel price of $40.» Read More
CNBC's Jackie DeAngelis reports Brent crude has jumped 2 percent on the geopolitical situation in Iraq.
CNBC's Michelle Caruso-Cabrera reports the ISIS group is on a massive offensive and nearing Baghdad.
Gen. Barry McCaffrey, discusses what options the U.S. military has in assisting the Iraqi government. McCaffrey says this is a mess and we're not likely to influence it with military power.
CNBC's Eamon Javers discusses President Obama's view on the Iraq situation and its effects on the global supply of oil.
President Barack Obama comments on the Iraq situation, saying Iraq is going to need more help from the U.S. and the international community. Obama adds this should be a wakeup call for the Iraqi government.
While seizing key Iraqi cities has catapulted ISIS onto the world’s radar, the Sunni group has been around for years. NBC News reports.
CNBC's Michelle Caruso-Cabrera reports oil prices are escalating on fighting in Iraq.
NBC News' chief foreign correspondent Richard Engel reports the ISIS, an off-shoot al Qaeda, is marching on Baghdad and the Iraqi government is powerless to stop them.
House Speaker John Boehner, comments on Eric Cantor's primary defeat and discusses America's frustration with Washington and immigration.
House Speaker John Boehner, discusses the Obama administration's foreign policy agenda and comments on the Bergdahl prisoner exchange.
Between unrest in Iraq and some "wacky trader folklore," the stock market could fall, trader Art Cashin told CNBC on Thursday.
Oil traders expect continued volatility as tensions in Iraq escalate, reports CNBC's Jackie DeAngelis.
As an off-shoot of terrorist group al Qaeda takes control of northern Iraq, NBC News' chief foreign correspondent Richard Engel reports on the militants' next move.
While oil prices may not hit $140 a barrel, instability in Iraq will definitely set prices on an uptrend, says Nariman Behravesh, Chief Economist at IHS.
John Kingston, Global Director of News, Platts, says the advancement of Sunni rebels into the city of Tikrit won't impact oil prices as pipelines in that area have been closed since March.
Discussing today's down day on Wall Street and how Iraq is impacting oil prices, with CNBC contributor Howard Dean; Stephanie Link; "Fast Money" trader Brian Kelly; and CNBC's Sharon Epperson.
CNBC contributor John Kilduff says oil could surge $5-$10 in short if the situation in Iraq worsens.
Abdul Kareem Luaibi, Iraqui oil minister, says that the Iraqui government is taking "very strong action" to deal with violence in the north but that the violence is no threat to oil supply.
Jay Richards, Commodity Analyst at Just Spreads, says oil traders have factored in the takeover of Mosul in light of long-standing conflicts between rival parties.
CNBC's Jackie DeAngelis explains how political instability in Iraq is impacting oil supply and prices.