Crude prices settled higher Tuesday after an energy advisory group reduced its estimate on the amount of oil that will reach the market in the coming years.
A U.S.-contracted cargo ship fired warning shots in the Persian Gulf at two small patrol boats believed to be from Iran, U.S. Navy officials said Friday.
Iran denied a report that several of its boats taunted a U.S. Navy vessel in the Persian Gulf on Thursday night, according to IRNA, Iran's official news agency.
The USS Typhoon fired a warning flare during a confrontation Thursday night with three small Iranian boats in the Persian Gulf, a U.S. military official said.
Six people were killed, at least 40 were injured and dozens of vehicles burned Tuesday when hundreds of cars collided on a fog-shrouded Persian Gulf highway.
Stocks took a knock at the start of trading Thursday as investors fretted about continued weakness in the U.S. economy.
A telecommunications company on Friday blamed a ship anchor for cutting one of three severed undersea cables that snarled Internet traffic throughout the Middle East last week.
You expect a motorist to shell out a little extra cash for a vanity license plate.
An undersea cable carrying Internet traffic was cut off the Persian Gulf emirate of Dubai, officials said Friday, the third loss of a line carrying Internet and telephone traffic in three days.
Bandwidth providers said they expected India's Internet service to be back to about 80 percent of its usual speed by the end of Friday
Crude prices settled higher Tuesday after an energy advisory group reduced its estimate on the amount of oil that will reach the market in the coming years.
A U.S.-contracted cargo ship fired warning shots in the Persian Gulf at two small patrol boats believed to be from Iran, U.S. Navy officials said Friday.
Iran denied a report that several of its boats taunted a U.S. Navy vessel in the Persian Gulf on Thursday night, according to IRNA, Iran's official news agency.
The USS Typhoon fired a warning flare during a confrontation Thursday night with three small Iranian boats in the Persian Gulf, a U.S. military official said.
Six people were killed, at least 40 were injured and dozens of vehicles burned Tuesday when hundreds of cars collided on a fog-shrouded Persian Gulf highway.
Stocks took a knock at the start of trading Thursday as investors fretted about continued weakness in the U.S. economy.
A telecommunications company on Friday blamed a ship anchor for cutting one of three severed undersea cables that snarled Internet traffic throughout the Middle East last week.
You expect a motorist to shell out a little extra cash for a vanity license plate.
An undersea cable carrying Internet traffic was cut off the Persian Gulf emirate of Dubai, officials said Friday, the third loss of a line carrying Internet and telephone traffic in three days.
Bandwidth providers said they expected India's Internet service to be back to about 80 percent of its usual speed by the end of Friday
The back-and-forth between Iran and the United States over an encounter between their naval forces intensified this week when Tehran rejected a message from Washington because it did not use the term "Persian Gulf," Iran's news agency said.
The Bush administration said Monday it notified Congress of plans to sell $20 billion in sophisticated arms to Saudi Arabia. The deal includes the proposed sale of 900 "joint direct attack munitions" worth close to $120 million, said U.S. State Department spokesman Sean McCormack.
Iran has denounced video and audio recordings released by the United States of the two nations' confrontation in the Strait of Hormuz as "fabricated," according to statements carried by state-run television station.
Five Iranian Revolutionary Guard boats "harassed and provoked" three U.S. Navy ships early Sunday in international waters, the U.S. military said Monday, calling the encounter a "significant" confrontation.
Two U.S. Navy F/A-18 Super Hornets -- flying off the aircraft carrier USS Harry S. Truman -- crashed Monday night in the Persian Gulf, U.S. Navy officials said.
Iranian Revolutionary Guard boats harassed and provoked three U.S. Navy ships in the strategic Strait of Hormuz, officials said Monday
Iran's Islamic Revolutionary Guards Corps has taken command of Iranian naval operations in the Persian Gulf, the U.S. military has revealed.
The United States is developing a proposed $20 billion, 10-year arms sales package for Saudi Arabia, a senior administration official confirmed on Saturday.
After a much-publicized military buildup in the Persian Gulf, the United States is now planning to have only one aircraft carrier in the region for part of this year
Three Finnish men, detained over the weekend by Tehran for allegedly straying into Irainian waters during a fishing trip in the Persian Gulf, have been released, a Finland foreign ministry official says.
In one of the largest, most visible war games America has staged in the Persian Gulf since the start of the Iraq war, two U.S. aircraft carriers and seven other warships cruised near the Iranian coast Wednesday.
Oil prices plunged over 4 percent Monday, driven down by heavy fund selling and unwinding political tensions in the Persian Gulf.
The British government has banned all military service members from talking to the media in return for payment following a storm of protests over interviews with the 15 marines and sailors who were held captive in Iran.
The 15 British military personnel captured by Iranian forces in the Persian Gulf were subjected to "psychological pressure" and kept in isolation during their detention, the group's officers said on Friday.
Indications of easing tensions between Iran and Britain - bringing oil prices lower - could be a positive factor for U.S. stocks when markets open Tuesday.
All this week, the big factor behind rising oil prices has been the standoff between Britain and Iran over the fate of 15 British sailors seized by Iran in the Persian Gulf on March 23. But the steadily heightening tensions - British Prime minister Tony Blair now intends to take the matter to the UN Security Council - has camouflaged another factor likely to make this another long hot summer for American drivers even if the crisis is resolved and the sailors are eventually released.
Satellite tracking data shows that a group of 15 British military personnel captured by Iran last Friday never strayed outside Iraqi waters, according to Britain's Ministry of Defence.
Britain will be allowed to make contact with 15 sailors and marines seized by Iran as soon as a preliminary investigation has been completed, an Iranian official says.
The White House on Tuesday emphasized diplomacy over potential military action against Iran -- just a day after a top naval commander questioned the intentions behind Iran's recent exercises in the Persian Gulf.
Iranian patrol boats have increased attempts in the last week to assess defenses near Iraqi offshore oil terminals, U.S. military officials said Monday.
Two people were missing two days after a cruise ship carrying 126 people capsized in the Persian Gulf off Bahrain during a party, killing 57, a spokesman for the Ministry of Interior said Saturday.
At least 57 bodies have been recovered by Friday in the Persian Gulf off Bahrain after a cruise boat carrying 137 people capsized the night before.
Al-Jazeera television has broadcast a 25-second, silent videotape showing three of four hostage Christian Peacemaker activists, and said that the men asked their governments and countries in the Persian Gulf to work for their release.
Two U.S. lawmakers called Sunday for overhauling the rules by which the United States approves foreign management of facilities involved in national security.
President Bush said Thursday that the U.S.-led global war on terror had "weakened" al Qaeda and cited as proof international efforts that he said had thwarted a terrorist plot to attack Los Angeles.
Pity the ignorant executive who boards a plane for the United Arab Emirates bragging about his Ritz-Carlton reservations. Because even before landing, he'll spot the best business hotel in the Midd...
The Defense Department has released the names of the two U.S. Marine pilots who died when their F/A-18 jet fighters apparently collided over Iraq. The pilots are Maj. John C. Spahr, 42 years old, from Cherry Hill, New Jersey, and Capt. Kelly C. Hinz, 30 years old, from Woodbury, Minnesota.
Do address audience questions clearly, don't slouch and absolutely no smirking. What are the key "dos and don'ts" for President Bush and Sen. John Kerry in Friday's town hall-style presidential debate?
ENOUGH ABOUT THE OIL problem; now there's an oil solution. Within the next few decades the U.S. can end its oil dependence.
Saudi Arabian government officials Sunday blamed al Qaeda terrorists for a series of weekend attacks in the oil city of Khobar that left at least 22 people dead -- 19 of them from other countries.
Australia will send additional troops to Iraq to help train the nation's armed forces.
A new audiotape broadcast on the Arabic-language television network Al-Jazeera likely featured the voice of Osama bin Laden and was recorded recently, a CIA spokesman said Monday.
The Arabic-language TV network Al-Jazeera aired an audiotape Sunday in which a man purporting to be al Qaeda leader Osama bin Laden referred to recent events, including the December 13 capture of Saddam Hussein.
U.S. forces say they have confiscated nearly 3,000 pounds of hashish and detained 15 people in the northern Persian Gulf.
There's no such thing as too much waterfront property, especially in Dubai. As part of the tiny state's drive to become a tourist hot spot, the government is working with a private developer to bui...
This past year it wasn't just the stock market taking us for a wild ride. As we moved closer to war with Iraq, oil prices jumped from $20 to nearly $40 a barrel. By late March they'd fallen to abou...
However long the battle for Baghdad lasts, one thing is clear: Reviving Iraq's oil industry will take months. U.S. contractors say the country has the most decrepit energy infrastructure they've ev...
It's 110 degrees in the shade, but you'd never know it inside the air-conditioned Rolls-Royce Silver Seraph whisking you from Dubai's new $550 million airport to the Burj Al Arab Hotel. Shaped like...
Remember cold fusion, Corfam, and Tang? Well, electric vehicles (EVs) seem destined to join them on the trash heap of history: once-heralded technological breakthroughs whose time never came.
When the federal government wants to know the risks of dismantling nuclear weapons, the health consequences of Persian Gulf War service or whether baby boomers are saving enough for retirement, it ...
Mark Holowesko's famed mentor, Sir John Templeton, had already retired from day-to-day fund management when Templeton was interviewed for this column just before the outbreak of the Persian Gulf wa...
Here's a case where money does grow on trees. The sleepy lumber market -- as in sawing logs -- is looking like gold, circa 1980. Lumber futures prices recently rose to their preset limits -- up $5,...
Having won the peace, will U.S. policymakers now overreact and slash defense spending too deeply? Short answer: no. True, the five-year budget plan favored by Les Aspin, Bill Clinton's choice for D...
One of the biggest events of 1991 -- the Persian Gulf war -- doesn't exactly qualify for our 11th annual roundup of hot happenings. But a related product does. The Gulf war dropped smart bombs onto...
Thank you for your May Editor's Notes about America's need for better health insurance. Our lack of a national program for meeting health-care costs for all our citizens is a true disgrace. I heard...
Guts led to glory in the first half of 1991 -- and not just in the Persian Gulf. Taking risks paid off big for armies of mutual fund investors as well. For starters, the average equity fund handily...
When God made entrepreneurs, He kept breaking the mold. That's why the ''I can do it better'' spirit shines through America's nearly 20 million small companies in so many varied and wonderful ways....
Everybody knows the Persian Gulf war was good for stocks: the Dow Jones industrials are up 16.1% since Jan. 16. But the best wartime investment, up more than 7,000% in the past three months, isn't ...
Good-bye, subterranean homesick blues. A nationwide poll of 300 MONEY subscribers conducted by the Gallup Organization in March shows that people have become far more upbeat about the path of home ...
APRIL -31 MARCH -39 YEAR AGO -13
American forces have prevailed in the Persian Gulf, and the question here in New York City is whether to have a victory celebration. Some say that penurious Gotham cannot afford one, but Mayor Davi...
Your servant was recently boning up on drug therapy, but not because he needs any. Friends, our studies were undertaken for defensive purposes only. We are still playing deep safety, as it were, ag...
-- YUTAKA OKUMURA, 65, president of Furukawa, a Japanese maker of construction machinery, on Saddam Hussein's decision to spill oil into the Persian Gulf: ''His strategies are beyond conventional c...
With bunting, flags, and barking dogs, the Matthews family of Pembroke, Massachusetts, will soon welcome son Scott back from the Persian Gulf. A truck driver with the Army's Seventh Corps, Scott wo...
The burning of so many oil wells at once is a unique event, and it may be years before the full extent of the damage is known. Such fires put out hydrocarbons similar to auto exhaust, soot, and tox...
Five days after the Persian Gulf war began on Jan. 16, President Bush officially declared the Arabian peninsula and its surrounding waters a combat zone. The formal pronouncement triggered a number...
THE QUESTIONS shot out of the Middle East as fast as automatic weapons fire. Will the Iraq war stabilize the Middle East or leave it more dangerous than ever? How will it affect the global economy,...
If the daily reports of economic mayhem have you feeling panicky, you're not alone. According to MONEY's Consumer Comfort index (left) and other surveys, Americans are extremely gloomy about the ec...
Thanks to the crisis in the Persian Gulf, the wood-burning stove is making a comeback. Homeowners scared by the high cost of fuel oil have been rushing to buy before winter sets in. The wood stove ...
SELLING/Cover Stories 38 HOW TO DEAL WITH TOUGHER CUSTOMERS Today's consumers can drive a marketer nuts. They insist on quality. They pore over labels. Surprise! Satisfying them can be very good fo...
BONDS HAVE FARED better than stocks this year, but that isn't saying much. Total return has generally amounted to only a few percentage points, while prices have behaved like a yo-yo. Early in the ...
Shareholders lost a lot of confidence as well as money in the August stock market rout triggered by Iraq's takeover of Kuwait. Saddam Hussein's tanks crushed such investment canons as the oil glut,...
FEATURES 74 SMART MOVES FOR TOUGHER TIMES by Teresa Tritch and Marguerite T. Smith Saddam Hussein's tanks may have triggered what past oil busts and stock market meltdowns couldn't -- a U.S. recess...
The majority view among economists -- that any near-term U.S. recession will be a mild one -- hinges on the assumption that events in the Gulf crisis will stop short of outright fighting. Any nonvi...
For many mutual fund investors, August's financial tempest was uncomfortably reminiscent of the even stormier month of October 1987. While this year's version lacked the climactic one-day panic of ...
After Iraq invaded Kuwait last August, my September tour in nearby Turkey looked like a total loss -- $2,100. The Turkish tour operator claimed it was safe to travel. I wasn't so sure. Yet I manage...
-- PATRICK LEAHY, 50, Democratic Senator from Vermont, in advocating a ''war tax'' to finance U.S. operations in the Persian Gulf: ''This would demonstrate to the world that we are in there for the...
Since Saudi Arabia will increase its oil production to eight million barrels a day this month to make up for the lost flow from Iraq and Kuwait, the question is whether it can deliver if the bullet...
THE CONFRONTATION in the Persian Gulf conjures a host of horrible prospects: Shuttered factories. Gasoline lines. Blood in the sand. It might not come to that, of course. Iraq could yet withdraw fr...
The U.S.-led embargo of Iraq and Kuwait, which together produced 20% of OPEC's crude exports last year, will jolt some of the world's leading oil companies and enrich others. Starting on this page ...
-- While the U.S. Navy is providing escorts for Kuwaiti oil tankers plying the Persian Gulf, it is doing nothing to protect American-owned carriers. That's because most ships do not fly U.S. flags ...
The October 1987 meltdown will be long remembered on Wall Street. Higher interest rates, combined with uncertainties about inflation, the dollar, trade and budget deficits, and the explosive Persia...
DESPITE the market plunge, chief executives interviewed for the FORTUNE 500 CEO poll, the second in a series, are mostly upbeat. They expect no recession next year, think company profits will excee...
ANYONE who has had a car rebuilt can relate to the U.S. Navy's overhaul program for aircraft carriers at the Philadelphia Naval Shipyard. The ships admittedly are bigger and more complex -- their g...
If you need another reason to promote U.S. oil conservation and exploration, here it is: When the price of oil goes up, the U.S. trade deficit rises too. Increased imports and higher prices of crud...
The 119th annual racing season at Saratoga Springs, New York, kicked off with the usual black-tie galas. But unbridled gaiety did not last through the next night's thoroughbred auction. The 64 year...
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