The news that the Libyan government had $30 billion worth of cash and securities in US financial institutions has set off a scramble on Wall Street to comply with President Obama’s executive order freezing the funds.
Look for Mideast rumors and speculation to continue to drive oil price swings, says CNBC's Sharon Epperson. Traders don’t have time to research reports and the actual supply impact. That’s up to journalists and analysts.
With Charlie Sheen, Moammar Gaddafi, Bernie Madoff and now fashion designer John Galliano, we are being bombarded with a global epidemic of nutjobs. What's going on?
The hawkishness of the European Central Bank makes the euro a better buy than the Swiss franc, says UBS's Amelia Bourdeau.
Officials say that trading on the Egypt stock exchange will resume on Sunday and will take measures to prevent a huge selloff as soon as the bourse reopens. It's unrealistic to think that those steps will prevent panic-selling, Yousef Gamal El-Din writes.
A flight to the dollar usually accompanies increased risk aversion. This time, though, while the traditional havens of the Swiss franc and the yen have benefited, the US currency has suffered. The FT reports.
The Middle East crisis will lead to an 'energy shock' for the West, increasing stagflation, David Murrin, author of "Breaking the Code of History" and hedge fund manager, said.
The U.S. Treasury has announced it's freezing a whopping $30B in Libyan assets, reports CNBC's Eamon Javers.
This is a great time to take fewer forex risks, says an FX strategist for Standard Chartered, and that's good news for traditional safe havens.
The Goldman Sachs executive who coined the term “BRIC” for the emerging economies of Brazil, Russia, India and China says that a post-revolution Middle East and North Africa could rival that economic group one day.
If you're looking for a news story containing the name of the Libyan leader you may be in for a challenge: The spelling of 'Gaddafi' across news outlets has been as erratic as his recent behavior.
Marc Faber, who predicted the U.S. stock market crash in 1987, reveals the one energy stock he likes right now.
Egypt’s stock market is braced for a possible sell-off of shares when trading resumes on Tuesday after being closed for more than a month because of the country's political crisis.
Switzerland has also moved to freeze the assets of the Libyan regime. But it seems unlikely that Colonel Gaddafi and his cronies would be stashing their wealth in Zurich these days.
There is rarely a happy ending when the price of crude jumps sharply, Stephen King, the chief economist at HSBC in London, said.
Oil prices are likely to extend last week's gains despite assurances from de facto OPEC leader Saudi Arabia that it's willing and able to meet any supply shortfalls from Libya, according to the latest CNBC market sentiment survey.
The Libyan government's sovereign wealth fund invested some $500 million with Stanford but the deal feel apart when the SEC charged Stanford of running a $7 billion ponzi scheme. Libya may have managed to withdraw much of its Stanford investment.
Even without rebellion in Libya and protests across the Middle East next week, the markets will consider Congressional testimony from Fed Chairman Ben Bernanke, and a long list of economic reports, including the February employment report on Friday.
Oil prices for the most active Brent and WTI crude contracts are still up over 10 percent since last Friday — and there's no sign that Mideast turmoil will cease over the weekend. So oil traders are bracing for more — perhaps much more — upside risk.
After three days of delays, a U.S.-chartered ferry evacuated Americans and other foreigners out of Libya on Friday and brought them to the Mediterranean island of Malta.