NEW YORK, Dec 12- Gold tumbled 2 percent on Thursday as upbeat U.S. retail sales data stoked expectations of a cut soon in the Federal Reserve's stimulus program, and natural gas prices rose for a fourth straight day as colder weather gripped the United States. Coffee and silver were among other commodities that posted major price moves.» Read More
Oil production in Mexico has declined 25 percent in the last 10 years. CNBC's Michelle Caruso-Cabrera reports Mexican Congress has approved an energy bill allowing foreign investment in oil.
NEW YORK, Dec 12- Brent oil futures fell on Thursday as traders anticipated an increase in Libyan oil supply and on expectations that the U.S. Brent crude oil fell 81 cents to $108.89 a barrel by 11:27 a.m. EST. Brent's premium to U.S. oil was last trading at $11.25 per barrel, narrowing by more than $1 from the previous session.
Dec 12- North American liquids production is expected to rise by more than 40 percent between 2010 and 2040, driven by technological advancements that enable increased output from sources such as oil sands, Exxon Mobil Corp said.
LONDON, Dec 12- Iran has bought up to 100,000 tonnes of Indian raw sugar in rare deals as a wider number of foreign suppliers aim to sell Tehran agricultural commodities after last month's nuclear deal.
The "Squawk on the Street" news team discuss the big day for IPOs including Hilton Worldwide and Aramark. Cramer contrasts Hilton and Twitter, and compares Twitter to Amazon. "Twitter is not bound by the four walls of earnings per share," Cramer says.
*Libya may reopen three oil ports this weekend. LONDON, Dec 12- Brent oil futures fell to around $109.50 a barrel on Thursday on the possible reopening of major Libyan ports this weekend and expectations that the U.S. Otherwise, you have the Fed meeting next week, " Olivier Jakob at Petromatrix consultancy in Switzerland said.
Dec 12- Exxon Mobil Corp wants the United States to remove restrictions on exporting oil, the Wall Street Journal reported, citing the company's annual long-term energy demand outlook.
SINGAPORE, Dec 12- Brent futures held steady above $109 a barrel on Thursday as a looming U.S. budget deal backed expectations the Federal Reserve may act soon to unwind a stimulus programme that has supported oil prices, keeping investors at bay.
SINGAPORE, Dec 12- Brent futures edged towards $109 a barrel on Thursday as a looming U.S. budget deal backed expectations the Federal Reserve may act soon to unwind a stimulus programme that has supported oil prices. Expectations are creating a weaker sentiment for oil and other commodities, "said Chee Tat Tan, investment analyst at Phillip Futures in Singapore.
SINGAPORE, Dec 12- Brent futures slid toward $109 a barrel on Thursday as a looming U.S. budget deal backed expectations the Federal Reserve may act soon to unwind a stimulus programme that has supported oil prices. Expectations are creating a weaker sentiment for oil and other commodities, "said Chee Tat Tan, investment analyst at Phillip Futures in Singapore.
LOS ANGELES, Dec 12- Chevron Corp raised the cost of its giant Gorgon liquefied natural gas project in Australia by $2 billion on Wednesday, the second increase in just over a year to take the total cost to $54 billion.
SINGAPORE, Dec 12- U.S. crude futures eased on Thursday after losing more than a dollar in the previous session, as investors saw a steep decline in U.S. oil stocks as a move by refiners to avoid taxes rather than a sign of strong demand. *U.S. crude for January delivery was off 10 cents at $97.34 a barrel by 0049 GMT after dropping $1.07 on Wednesday.
Buckeye Partners L.P. said Wednesday that it completed its purchase of 20 liquid petroleum storage terminals from Hess Corp. for $850 million, expanding its business on the East Coast and the Caribbean. Buckeye, based in Houston, said 19 of the terminals are located on the East Coast, including one in New York Harbor. Hess Corp. shares fell $1 to close at $78.94.
WASHINGTON, Dec 11- Moscow might be willing to give Ukraine relief on the price of natural gas it imports from Russia if Kiev granted better terms for the Russian naval fleet in Ukraine's Crimea, a senior Russian official said on Wednesday.
Dec 11- Chevron Corp, the second-largest U.S. oil company, said it plans to spend $39.8 billion on projects and exploration in 2014, about 5 percent below the expected 2013 spending.
WASHINGTON, Dec 11- John Podesta's return to the White House could dim prospects for the Keystone XL pipeline's approval, environmentalists said Wednesday, as the Democratic Party elder and Keystone critic crafts policies to curb climate change.
NEW YORK, Dec 11- Natural gas futures hit 7- month highs on Wednesday after cold weather forecasts bumped up expectations for heating demand in the United States, while U.S. crude prices tumbled on a report showing a build in gasoline inventories. Copper rose for a fourth straight session in London, hitting a one-month high together with zinc.
NEW YORK, Dec 11- Brent oil rose on supply concerns as traders remained skeptical that Libyan oil exports would resume while U.S. crude fell after government data showed large builds in refined oil products, suggesting sluggish oil demand.
NEW YORK, Dec 11- Stock markets worldwide slipped on Wednesday after a budget deal in Washington removed some of the fiscal uncertainty hanging over the U.S. economy, boosting expectations the Federal Reserve may soon start reducing its stimulus.
CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.