Feb 5- U.S. energy firms deepened their cuts in oil drilling rigs in the seventh week of declines to the lowest levels since March 2010, data showed on Friday, as they continue to cut spending due to the collapse in crude prices. Front-month U.S. crude futures were trading at about $31 per barrel and Brent at $34 on Friday, on track to end the week lower after two...» Read More
Richard Jerram, Chief Economist at the Bank of Singapore, says falling oil prices reduced inflationary pressures, which in turn negate the need of monetary tightening across Southeast Asia.
Based on previous incidences when oil dipped to $40 a barrel in 2009, the ongoing rout in prices could continue, says Jodie Gunzberg, Global Head of Commodities at S&P Dow Jones Indices.
John De Clue, Chief Investment Officer, The Private Client Reserve at the U.S. Bank Wealth Management, outlines factors that will serve as "powerful underpinnings" for Wall Street next year.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil bounced around before it fell below $60 near the close. There's simply too much oil on the market and too little demand. And OPEC isn't going to cut production any time soon.
Discussing where oil will settle, Tom Petrie, Petrie Partners chairman, says the lower oil goes, the more self-correcting it becomes.
CNBC's Michelle Caruso-Cabrera looks at who stands to benefit from low oil in the U.S., Tom Petrie, Petrie Partners, provides insight.
CNBC's Jackie DeAngelis reports natural gas inventories draws down more than traders expected to 51 billion cubic feet.
Vandana Hari, Asia Editorial Director at Platts, weighs the factors that could put a bottom to the recent slump in oil prices. She later explains why the short selling of oil isn't over yet.
While downward pressure will continue to weigh on oil in the near future, prices are unlikely to go below $43 a barrel, says Matt Smith, Commodity Analyst at Schneider Electric.
Michael Jones, Chairman and CIO at Riverfront Investment Group, calls the recent slump in oil prices as "a supply-driven collapse," which has been proven to benefit the global economy.
Vadim Zlotnikov, Chief Market Strategist and Co-Head of Multi-asset Solutions at AllianceBernstein, recommends investing in a basket of U.S. exploration and production (E&P) producers towards year-end.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil was down again today, as the commodity free fall continues. OPEC cut its 2015 demand projection and the Saudis ask why they should cut production.
CNBC's Jackie DeAngelis reports crude oil inventories had a build of 1.5 million barrels.
CNBC's David Faber speaks to energy investor John Raymond of The Energy & Minerals Group, about investing in oil and the sustainability of crude oil production in the Bakken.
Oil markets will remain oversupplied in 2015 with demand not matching supply, according to Abhishek Deshpande, oil and gas analyst at Natixis.
Airlines that do not have fuel hedging, such as the Chinese airlines, will stand to benefit the most from cheap oil, says Corrine Png, Head of Asia Pacific Transportation Research at JP Morgan.
The recent plunge in oil prices is due to price wars, instead of structural market conditions, says Bambang Brodjonegoro, Finance Minister of Indonesia.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil started out lower but had a technical rebound. Traders bought the dips, but expect it to continue its fall. Gold popped on the day.
Traders are bearish on oil citing an oversupply situation, CNBC's Jackie DeAngelis reports the details. Price cuts by OPEC nations are helping put downward pressure on crude.
CNBC's Jackie DeAngelis looks at how oil is contributing to the steep decline in the Dow today.