Algerian special forces have found the bodies of two Canadian Islamist fighters after a bloody siege at a desert gas plant, a security source said on Monday, as the death toll reached at least 80 after troops stormed the complex to end the hostage crisis.» Read More
Oil production is merely a mirage, as is security in Libya, which was doomed from the day one PG (post-Gaddafi) because of the way it was “liberated."
Now that the "Arab Spring" is turning into the "Arab Winter" the former prime minister writes, "the challenge emerging from the changes taking place is so big that we had better put in place a common Western strategy or we'll find that national approaches are totally irrelevant to shape events there."
The guns in Libya have barely quieted, and NATO’s military assistance to the rebellion that toppled Col.Muammar el-Qaddafi will not end officially until Monday.But a new invasion force is already plotting its own landing on the shores of Tripoli. The New York Times reports.
Europe will keep its stranglehold on markets Friday. A lack of U.S. economic data will give investors little else to focus on ahead of the weekend.
The return of Libyan oil to world markets may provide some relief at the pump for U.S. consumers, but don't expect a big drop in prices as refining and economic factors are more at play.
In the final weeks of Col. Muammar el-Gaddafi’s rule, Chinese companies offered him large stockpiles of weapons in apparent violation of sanctions, officials in Libya said. The NYT reports.
Post-Gaddafi Libya could begin pumping oil in the next few months, as rebels secured oil infrastructure around Tripoli and edged closer to taking complete control of the country. However, oil markets are shifting their attention to concerns that the US might undertake further fiscal stimulus.
Oil companies are understood to be preparing to move back into the North African country, which used to pump 1.6 million barrels per day before the uprising against Muammar Gaddafi's government began six months ago.
Goldman Sachs gave a paid internship to a top Libyan official’s relative while the bank was carrying out lossmaking trades on behalf of the country’s sovereign wealth fund, the Financial Times has learnt.
Société Générale structured a $1 billion bet on its own shares for Libya's sovereign wealth fund after the Jérôme Kerviel fraud, the Financial Times reports.
The anti-corruption group Global Witness says it has obtained a document that details for the first time the involvement of Western banks—including some in the U.S.—in financing the regime of Libyan leader Moammar Gaddhafi.
Muammar Gaddafi's forces used tanks to shell the besieged western town of Misrata on Monday, as rumors fueled fears that the Libyan leader was preparing to use chemical weapons.
A NATO missile strike killed Moammar Gadhafi's youngest son and three grandchildren on Saturday but the Libyan leader survived, a government spokesman said.
NATO powers rejected Moammar Gadhafi's call for a cease-fire and negotiations on Saturday, saying they need "actions not words," and aid ships were prevented from docking in a besieged coastal city while the alliance swept the port for mines.
Crude supplies are up over a million barrels, but the decline in gasoline is far more than analysts were expecting, reports CNBC's Sharon Epperson. Also, a look at the recent rise in oil prices, and the hunt for cheap oil, with Addison Armstrong, Tradition Energy, and CNBC's Simon Hobbs.
CNBC's Sharon Epperson discusses the day's activity in the commodities markets, and looks ahead to where oil is headed, particularly in light of Goldman Sachs' recommendation that investors take profits.
Bahrainis and expats living in the Kingdom of Bahrain have been living history over the past month as the events in Tunisia and Egypt inspired the mostly Shia majority in Bahrain to take the streets demanding political, economic and social reform.
Libyan rebels are set for their first oil export as soon as Tuesday as they seek funding to sustain their uprising against Muammer Gaddafi's 41-year rule of the north African nation, the Financial Times reports.
A Libyan government envoy has begun a trip to Europe to discuss an end to fighting, but gave no sign of any major climb down in a war that has ground to a stalemate between rebels and forces loyal to Muammar Gaddafi.
A week or so before Obama launched the attack on Libya, we warned that while an air-campaign could likely ground Gadaffi’s air force—hopes that it would accomplish much more were unfounded.