CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets and looks ahead at where oil and precious metals are likely headed next week.» Read More
Big movements in the price of oil can have significant effects on the economy, and countries with the most oil within their borders are set to benefit, as demand for crude continues to rise.
Saudi Arabia appears to have been building crude oil inventories in lower domestic demand months in a scramble to offset the risks of “limited” effective spare production capacity, Goldman Sachs said on Wednesday.
Texas energy mogul T. Boone Pickens told CNBC Thursday he thinks Brent North Sea oil could hit $148 a barrel this summer because demand is outrunning supply.
Saudi Arabia’s powerful oil minister, Ali Naimi, made a rare intervention into overheating oil markets on Tuesday, declaring that high oil prices were “unjustified” and vowing that the kingdom would boost its output by as much as 25 per cent if necessary. The Financial Times reports.
The 13th International Energy Forum (IEF) kicks off on Tuesday in Kuwait City, bringing to the table energy ministers from 88 countries around the world representing some 90 percent of global supply and demand
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.
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.
Kenneth Heebner, Capital Growth Management, and Richard Berg, Performance Trust Capital Partners, discuss the outlook on stocks, oil, housing, and the best way to invest in this market. Also, CNBC's Sharon Epperson reports on today's oil spike and rumors of a Saudi pipeline explosion.
The “Fast Money” pros weren’t concerned that the effect of a Saudi pipeline explosion - false, as it turns out - would last.
The update on oil's surge on rumors of a pipeline explosion in Saudi Arabia, with the Fast Money crew. Also, two super-bullish reports out today calling for the S&P to hit 1700 later this year, driven by fundamentals. Are the catalysts in place to push the S&P to those levels? Discussing the oil & gas boom; improving outlook on housing, and the dip in unemployment, with the Fast Money traders. And, checking the charts to see if technical indicators support the bullish outlook, with Jeff Weiss, Tejas Securities technical analyst.
The leaders of OPEC are "sitting around their table, setting the price of oil and laughing at us because we have no leadership," real estate mogul Donald Trump told CNBC Tuesday.
CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks ahead to where oil and precious metals are likely headed next week.
The world’s top oil exporter, Saudi Arabia, appears to have cut both its oil production and export in December, according to the latest update by the Joint Organizations Data Initiative (JODI), an official source of oil production, consumption and export data.
China is scouring the world for alternative oil supplies to replace a fall in its imports from Iran, as it seeks to negotiate lower prices from Tehran, and has been drawing heavily on Saudi Arabia.
An "element of fear" over Iran is playing into the price of oil despite higher supply and decreasing demand, Saudi Prince Alwaleed bin Talal al Saud told CNBC Monday.
Iran has indicated that its threat to cut oil supplies to European states in order to pre-empt a European Union oil embargo that comes into effect in July may be only a symbolic one.
A series of tit-for-tat statements between Iran and the European Union showed no signs of abating on Saturday, with the Iranian Oil Minister saying that oil exports “will certainly be cut to some European countries.”
CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks ahead to where oil, natural gas and precious metals are likely headed next week.
The tensions over Iran and threats from the West to apply sanctions on Iranian oil will see crude prices facing more of an upside risk in the near future, a commodities analyst told CNBC.
A senior Iranian official on Tuesday delivered a sharp threat in response to economic sanctions being readied by the United States, saying his country would retaliate against any crackdown by blocking all oil shipments through the Strait of Hormuz, a vital artery for transporting about one-fifth of the world’s oil supply.