NEW YORK, July 28- Oil prices steadied on Tuesday, with Brent recovering from near six-month lows and U.S. crude settling more than 1 percent higher as bets for a drop in U.S. stockpiles offset concern over a global oil supply glut and China's stock market meltdown. "We're getting a bounce of sorts but I'll be selling into any strength I see," said Tariq Zahir, an oil bear...» Read More
Jonathan Barratt, Chief Investment Officer of Ayers Alliance Securities, outlines the factors that could continue to contribute to a lull in oil prices moving forward.
Ben Lichtenstein, President and Founder of Tradersaudio.com, attributes oil's plunge to oversupply and rising efficiency in refineries, instead of slowing economic growth.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil fell to below $75/barrel, mostly due to news out of Mexico and a significant increase in U.S. production.
CNBC's Jackie DeAngelis reports natural gas opened lower today, and traders expect crude oil prices to decline from current levels.
With oil dropping below $77 a barrel, Lindsey Piegza, Sterne Agee chief economist, discusses how the ripple effect of low oil translates to direct savings for American consumers and impacts retail.
Speaking in Mexico on Wednesday, Saudi Oil Minister Ali al-Naimi knocked down talk of OPEC waging a 'price war' in the global oil market, and prices fell as a result. CNBC's Amanda Drury and Brian Sullivan report.
Ashley Heppenstall, CEO of Lundin Petroleum, says the lower oil price is already having an impact on production in the U.S., but the extent of the effects are not known.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Crude was under pressure in the morning, but ended the day up slightly. The stronger dollar and supply situation continue to put pressure on oil.
As equities rise, CNBC's Jackie DeAngelis reports oil continues to slide and gold stabilizes but could see more of a decline.
Scott Darling, Regional Head of Oil & Gas Research at JP Morgan, says OPEC is unlikely to decide on an output cut at its next meeting and expects brent to slip below $75 a barrel in early-2015.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil was down another dollar today. Natural gas was down on the day, even though a major cold snap is on the way.
"The future of oil and gas in the U.S. is natural gas," says Gary Evans, Magnum Hunter Resources CEO, discussing what the low cost of shale means to the industry and U.S. economy.
Voters in Denton, Texas have approved a proposal to ban fracking for oil and gas. Chris Watts, Mayor of Denton, explains what's behind the petition.
Abdallah Salem El-Badri, secretary general of OPEC, says he is worried that the low oil price will have a negative impact on investment in oil projects.
Abdalla el-Badri, secretary general of OPEC, says consumers and producers are "panicking" over the falling oil price and need to "relax".
Abdalla el-Badri, secretary general of OPEC, says the ISIS problem needs to solved quickly as it will affect production and investment appetite for oil.
CNBC's Hadley Gamble discusses what oil price OPEC is comfortable with and how the falling oil price is affecting Saudi Arabia, Iran, Russia and the U.S.
Abdalla Salem El-Badri, secretary general of OPEC, says oil oversupply is not more than 600,000 to 700,000 barrels per day and the fundamentals of the market do not justify falling oil prices.
Matt Smith, Commodity Analyst at Schneider Electric, says OPEC's forecast for oil to average at $110 by 2020 remains realistic, but warns that prices will stay low over the next 6 months.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.