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Business Middle East


  • On the Ground in Libya Friday, 25 Feb 2011 | 12:00 AM ET
    On the Ground in Libya

    Protesters gather in the streets of Libya, as hospitals begin to fill up with injured and Libyan citizens pack up to leave the country.

  • Rumors Fly in Wild Day in the Oil Pit Thursday, 24 Feb 2011 | 7:00 PM ET

    Tweets, bleats and Al-Jazeera, and maybe new margin requirements were all part of the reason behind the big swing in oil prices Thursday.

  • The Dollar: Safe Haven No More? Thursday, 24 Feb 2011 | 5:10 PM ET

    The dollar's failure to rally in tandem with other safe-haven currencies has investors wondering if it's lost that special status.

  • saudi_oil_200.jpg

    Good King Abdullah of Saudi Arabia figures that $36 billion will buy off any potential unrest in his realm of Saudi Arabia. That's an expensive piece of cake he's dishing up.

  • Market Falling Because of Math, Not Middle East Thursday, 24 Feb 2011 | 4:28 PM ET

    While Mideast turmoil and the subsequent rise is a convenient excuse for the one-week equity selloff, the real catalyst may be something else, entirely.

  • As oil prices touch fresh highs, an official from a trade group representing convenience stores said that consumers have appeared "more confident" in recent months.

  • Halftime—Gen. Wesley Clark: Saudi Arabia Is Stable Thursday, 24 Feb 2011 | 1:59 PM ET

    As anger spreads throughout the Arab world, retired Gen. Wesley Clark said Saudi Arabia will be the last country to see an uprising.

  • Pros: Don’t Fear High Oil; Won’t Derail Recovery Thursday, 24 Feb 2011 | 12:09 PM ET

    While some worry skyrocketing oil prices will hurt the U.S. economy, the "Fast Money" traders are taking a different view.

  • Will Gaddafi Survive? Thursday, 24 Feb 2011 | 9:54 AM ET
    Demonstrators hold up a banner featuring Libyan leader Moamer Kadhafi reading 'Kadhafi is a murderer' as they stage a protest outside the Libyan embassy in Istanbul on February 21, 2011

    In light of all that has happened in Libya over the last week, it seems fair to wonder how Libyan president Muammar Gaddafi has thus far avoided suffering the same fate as Hosni Mubarak, who was forced from power in neighboring Egypt earlier this month.

  • The safe-haven Swiss franc touched record levels, but Asian currencies are broadly lower over worries about oil prices and supply. Your daily FX Fix, right here.

  • Bahrain Central Banker Slams Rating Agencies Thursday, 24 Feb 2011 | 9:39 AM ET

    Rating agencies were hasty downgrading Bahrain without taking into consideration the long-term prospects and relying only on political factors, Rasheed Mohammed Al Maraj, Bahrain central bank governor, told CNBC Thursday.

  • Saudi Arabia in Talks to Boost Oil Output Thursday, 24 Feb 2011 | 8:40 AM ET

    Saudi Arabia is in “active talks” with European oil companies to meet the production shortfall left by Libya, the clearest indication to date that the leader of the Opec oil cartel is about to boost supplies to stop further rises in the oil price.

  • World Frets Over Libya; Benghazi 'Mercenaries' Jailed Thursday, 24 Feb 2011 | 7:25 AM ET
    Protests in Libya

    World leaders condemned Muammar Gaddafi's bloody crackdown on a revolt that has split Libya, but took little action to halt the bloodshed from the latest upheaval reshaping the Arab world.

  • Why Is WTI Much Lower Than Brent? Thursday, 24 Feb 2011 | 5:36 AM ET

    The spread between Brent and NYMEX crude is currently around $15 a barrel and according to Jim Bianco, the president of Bianco Research, this is due to one pipeline pumping crude from Canada into Cushing near Oklahoma City.

  • The $220 a Barrel Oil Call and the Risk Trade Thursday, 24 Feb 2011 | 4:59 AM ET
    An international oil tanker passes through the Suez canal in Ismailia, Egypt.

    Oil could hit $220 a barrel if "Libya and Algeria were to halt oil production together," analysts at Nomura investment bank predicted.

  • Why the Libyan Oil Disruption Led to a Price Spike Wednesday, 23 Feb 2011 | 11:41 PM ET
    Oil and gas fields in Tripoli, Libya

    Libya produces less than 2 percent of the world’s oil, and exports little to the United States. But the high quality of its reserves magnifies its importance in world markets. The NYT reports.

  • Demonstrators hold up a banner featuring Libyan leader Moamer Kadhafi reading 'Kadhafi is a murderer' as they stage a protest outside the Libyan embassy in Istanbul on February 21, 2011

    Now that the much-anticipated pullback has arrived, traders are debating how low the skittish stock market can go. But one thing's for sure: It'll have a lot to do with oil.

  • Obama Dispatches Clinton for Talks on Libya Wednesday, 23 Feb 2011 | 5:35 PM ET
    Secretary of State Hillary Clinton

    President Obama is condemning the violence in Libya and dispatching Secretary of State Hillary Rodham Clinton to Geneva for international talks aimed at stopping the bloodshed. He says he's directed his administration to prepare a full range of options to respond.

  • President Obama Statement on Libya Wednesday, 23 Feb 2011 | 5:07 PM ET
    President Obama Statement on Libya

    President Barack Obama says the U.S. is doing everything possible to protect Americans in Libya.

  • Opportunities Exist in Markets Spooked by Mideast: Cohen Wednesday, 23 Feb 2011 | 4:45 PM ET
    Supporters of Libyan leader Moamer Kadhafi hold his pictures as they take part in a pro-government rally in Tripoli on February 17, 2011 as the country faced a nationwide "Day of Anger" called by opposition cyber activists.

    Fear of the unknown amid Mideast unrest and violence is driving down markets, Goldman Sachs strategist Abby Joseph Cohen told CNBC Tuesday, but good investment opportunities exist for nimble investors able to pick through selloffs.