Dec 28, 2011 Halting, or even dislocating, the flow of one-fifth of the world's oil supply could send the price of crude into the stratosphere. But the oil market doesn't appear to take the threat seriously.
Dec 28, 2011 Iran has threatened to send military ships to block the Strait of Hormuz if President Obama signs a bill to impose sanctions to keep Iran from making nuclear weapons.
Dec 28, 2011 San Francisco has raised to the minimum wage to over $10 an hour, and that will effect the cities famed restaurants. On the other side of the country, negotiations will start today in New York between building owners and the union representing the people that clean those buildings. As the 10 year birthday of the euro approaches, David Brancaccio looks back at how Marketplace's resident poet described the deal at the time.
Dec 28, 2011 As the European Union prepares to increase sanctions on Iran over its nuclear program, the Islamic Republic has retaliated with a threat to close the Strait of Hormuz, a strategic waterway for oil exports.
Dec 28, 2011 Oil prices are down a bit this morning after a Saudi oil official said his country would pump more crude. That follows Iran's threat to block the Strait of Hormuz, where about one fifth of the world's oil passes through.
Dec 28, 2011 Iran's navy chief said today his country could very easily close the world's most important oil transit channel. The threat to close it comes after the West imposed more sanctions on Iran over its nuclear program.
Dec 14, 2011 The Organization of Petroleum Exporting Countries has agreed on an output limit, and it looks like gas prices will remain high for the time being.
Dec 14, 2011 The Organization of Petroleum Exporting Countries agreed this morning to maintain global production at about 30 million barrels of oil per day.
Dec 14, 2011 BP was the high bidder in 11 of them.
Dec 8, 2011 Jon Corzine heads to Congress today to answer for the collapse of brokerage firm MF Global. The European Union is looking to the International Monetary Fund for bailout help, and that could have ripple effects in the U.S. Reporter Sally Herships looks at what other businesses can gain from big-box storse like Costco and Walmart. And the countdown to a big European summit is nearing its end.