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CNBC's Brian Shactman discusses the day's activity in the commodities markets and looks ahead to where oil and precious metals are likely headed next week.
CNBC's Bertha Coombs discusses the day's activity in the commodities markets and looks ahead to where oil and precious metals are likely headed next week.
The death of Saudi Arabia’s Crown Prince Sultan brings into play the system for choosing a new heir to the country's throne, and as one of most high-profile governments still resisting changes brought on by the Arab Spring, the importance of communicating stability affects investor sentiment across the Arabian Peninsula and energy markets around the world.
Oil market traders often deal with contrasting sources of information in their quest to find real production numbers and the slightest hint of where prices may be headed. Another case in point is the release of the latest August production and intake data by the producer-consumer energy dialogue, known as the Joint Data Initiative (JODI).
Saudi Arabia's sovereign wealth funds are examining acquisitions around the world, but are waiting for greater economic stability before making any definite moves, Dr. Ibrahim Al-Assaf, the country's finance minister, told CNBC Thursday.
It’s been a news-heavy week for oil markets, with the International Energy Agency publishing its monthly oil market report following OPEC’s forecasts and comments by senior oil officials earlier in the week.
CNBC's Eamon Javers reports Attorney General Eric Holder says the U.S. has charged two men, originally from Iran, for conspiracy to murder Saudi Arabian Ambassador.
Saudi Arabia's Central Bank Governor, Muhammad Al Jasser, said yesterday that "everyone" was concerned over the fragile state of the US economy and Europe's ongoing sovereign debt crisis, according to Reuters reports.
Bahrain might be the smallest petroleum producer in the Gulf but its strategic production and refining relationship with Saudi Arabia means that the hydrocarbon sector remains critical to the wider economy, according to oil minister, Dr. Abdul-Hussain bin Ali Mirza.
As Saudi Arabia continues to grow rapidly, the dilemma of sufficiently meeting domestic and international crude oil demand becomes one that would lend credence to believers in higher prices down the line, experts and analysts told CNBC.
Gold is likely to hit $1,650 an ounce by the end of the year and could even hit $1,700, according to one analyst.
Saudi banks, often viewed as a benchmark for the region, have been struggling to shrug off the overhang from the 2008 financial crisis, and have been hit in particular by the more than $20 billion in loan defaults by the two family-owned businesses of Saad and Al-Gosaibi.
Traders at the Egyptian Stock Exchange reacted negatively to developments over the weekend, pushing the benchmark index EGX30 1.67% lower to 5270, its lowest level in almost two months.
Bahrain began its highly-anticipated National Dialogue this week in an effort to restore confidence both domestically and internationally that the Kingdom is committed to working through issues that sparked unrest within its borders in mid-February.
Egypt’s benchmark stock index was able to rebound 0.75 percent in the last trading session before an expected "million-man" march on Friday.