Oil drops 11% in worst day of 2021, breaks below $70 as new Covid variant sparks global demand concerns

Oil pumps work against the sunset sky. imaginema | E + | Getty Images Oil prices fell to their lowest level in more than two months on Friday as the new strain of Covid-19 raised concerns about slowing demand as supply increases. The lower leg came amid a broad market sell-off with the Dow Jones … Read more

IEA chief criticizes artificial tightness in energy markets

Oil pumping cranes are photographed at the Kern River oil field in Bakersfield, California. Jonathan Alcorn | Reuters The head of the world’s leading energy authority said some countries had failed to take a beneficial stance to calm high oil and gas prices, criticizing the “artificial tightening” of energy markets. “[A] The factor that I … Read more

Drew Binsky got paid to travel the world

It took 1,458 flights and 1,117 buses and trains for Drew Pinsky to reach his goal of traveling to every country in the world. And he did so in less than a decade. CNBC spoke with Pinsky nine hours after he arrived in his last country – Saudi Arabia – about how he financed his … Read more