The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
CNBC sat in on an "empathy training" at Amazon PillPack's Somerville offices, which is part of new hire orientation.Technologyread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
Energy market investors are "clearly" underestimating the potential impact of sustained fighting in Libya, analysts told CNBC on Wednesday. It comes as the country's intensifying conflict threatens to almost completely wipe-out the OPEC producer's oil supply.
Libya has been gripped by a sustained resurgence of fighting since early April, when rebel forces loyal to renegade General Khalifa Haftar — who effectively controls the country's breakaway east — launched a surprise offensive against the home of Libya's UN-recognized government.
The fighting has killed at least 460 people, with more than 2,400 injured and 75,000 others forced out of their homes.
Haftar reportedly ruled out a ceasefire on Sunday, with his Libyan National Army (LNA) locked in battle to take Tripoli from fighters loyal to Prime Minister Fayez al-Serraj's Government of National Accord (GNA).
Oil output disruption in the country depends very much on how the fighting around Tripoli evolves.
"Diplomatic efforts to find a political solution to the unrest have so far proved futile. In other words, armed factions will continue to fight for legitimacy, control and, crucially, a share of Libya's oil wealth," Stephen Brennock, oil analyst at PVM Oil Associates, said in a research note published Wednesday.
"The security situation is deteriorating and with Libya lurching from one crisis to another, conditions are increasingly ripe for a supply shock," Brennock said.
The North African country of 6.4 million has been struggling to rebuild its energy industry since its 2011 revolution that ousted long-time leader Moammar Gadhafi and the ensuing collapse in central power.
The prospect of renewed fighting in the country's capital city has underscored the OPEC producer's importance to oil markets and the fragility of its supply.
At present, Libya's oil patch does not appear to have been significantly impacted by the recent flare-up in conflict.
In fact, the country's crude production actually increased by 71,000 barrels per day (b/d) to 1.176 million b/d in April, according to OPEC-surveyed secondary sources.
Earlier this month, Mustafa Sanalla, the head of Libya's National Oil Corporation (NOC), warned continued violence could wipe-out 95% of the country's oil sector.
"I think what the head of the NOC was saying there is: 'If it goes, it will all go,'" Paul Horsnell, global head of commodities at Standard Chartered, told CNBC via phone on Wednesday.
Horsnell said investors were "clearly ignoring" Sanalla's warning, with the risk of an almost total wipe-out of Libya's crude supply not currently priced in to markets.
"I think we are in a kind of half-world, where we have seen a serious escalation but that hasn't yet turned into a full-blown civil war," Horsnell said.
Libya in the 1970s was pumping 3 million b/d. Before the 2011 NATO intervention that helped oust Gadhafi, it was producing 1.6 million bpd.
The country's population sits above the largest proven oil reserves in Africa, but benefit practically nothing from them. The UN estimates about 40 percent of the country lives below the poverty line.
— CNBC's Natasha Turak contributed to this report.