*WTI-Brent spread narrows as TransCanada fills pipeline. LONDON, Dec 10- Brent crude oil rose above $110 a barrel on Tuesday, recouping some of the previous session's losses- the sharpest in over five weeks. Brent for January was up 80 cents at $110.19 a barrel by 0952 GMT, having risen briefly by more than $1 to $110.45.» Read More
Are you still a believer in the secular commodities boom? Our guest host this morning, Greg Smith from Fat Prophets thinks we will see many commodities make new highs this year. It was a good day to exercise that viewpoint, given the turbulence for investors in gold, copper or oil in recent days. Have you felt your faith tested? Sit tight, says Greg, and remember you are an investor and not a speculator.
Russia is considering imposing duties on more than half of Belarusian imports in a major escalation of a dispute between the two countries that has disrupted the flow of Russian oil to Europe, the Vedomosti business daily reported Wednesday.
Commerzbank, Germany’s second largest bank, has bowed to pressure from the U.S. government and agreed to stop clearing dollar transactions for Iran from the 31st of January, The Wall Street Journal reported.
President George W. Bush lifted a ban on oil and gas drilling in Alaska's Bristol Bay, an area known for its endangered whales and the world's largest run of sockeye salmon.
Stocks closed mixed after another see-saw day as technology shares got a huge boost from Apple Computer.
It was a busy and volatile day for energy traders today. After hitting record levels in 2006, oil cracked the $54 mark over night as investment funds liquidated their positions. Then as crude became oversold, there was some short covering. Prices rebounded over $1. CNBC's Maria Bartiromo interviewed two oil and gas analysts on “Closing Bell” this afternoon to find out which direction the market was headed.
Knowing All The Answers: I have a saying that's a tribute not so much to my ability as a wordsmith as it is my ability to dodge responsibility: The key is not knowing the answers, but knowing where they are. And boy, if I didn't, I would have lasted about two days in this job! That was especially important today in two cases...
Crude oil futures settled down, but news that Russia and Belarus could not reach a compromise on their oil pipeline dispute lifted prices from early lows, analysts said.
Venezuelan stocks plunge 10% today after Hugo Chavez speech. Chavez is president of Venezuela--and in a televised speech last night in Caracas (he was just elected to a third term) he said he wanted his country to nationalize power and telecom companies. U.S. firms are major invstors in Venezuelan oil--and these new efforts in telecom by Chavez will also have affect on American companies beyond energy. On "Morning Call" CNBC's Michelle Caruso-Cabrera went over who's "hurt" but all this.
As we've noted--earnings season officially kicks-off later today, with Alcoa reporting after the bell. So will 4th quarter corporate profits be a boom or a bust, and what role will oil play? (an earlier post had some sector predictions). CNBC’s Mark Haines asked two analysts on today’s “Morning Call.” Nick Raich, Director of Research at National City Private Client Group says...
Crude oil is tumbling once again today, finally breaking below the psychologically important $55 dollar a barrel mark. Oil's abrupt decline this year, has left Wall Street wondering if the great energy run is over - at least for now. Nonetheless, there are still some investors who remain quite bullish on oil. Today on “Squawk on the Street” we spoke with one of them to find out why.
We've been telling you that earnings season gets underway today--when Alcoa releases its earnings after the closing bell. Wall Street investors are certainly interested in who will meet or beat expectations--and who will NOT do either in Q4. CNBC's Mary Thompson previewed some numbers on "Squawk on the Street" as to which sectors may come out on top--or the bottom.
A high-level Belarusian delegation arrived Tuesday in Moscow to hold urgent negotiations on a trade row that has led to Russia's halting oil supplies to Europe via Belarus, news agencies reported.
Oil major BP said on Tuesday its production of oil and gas fell in the fourth quarter of 2006 compared to the previous year, undershooting analysts' forecasts, and added that refining margins narrowed.
Stocks closed higher after bargain hunters stepped in to drive up shares of financials, technology and industrials.
Oil prices fell on Monday as warm winter weather curbed fuel demand in top consumer the United States, erasing gains made earlier after Russia halted some exports in a trade dispute.
It’s no secret that Enron’s 2001 accounting fraud triggered a massive meltdown on Wall Street and strict controls soon followed. As a result are investors sadder but wiser? Or can Enron happen again? The issue was debated on “Street Signs.” Jonathan Macey is the Sam Harris Professor of Corporate and Securities Law at Yale Law School. We’re talking about this issue because an article was published in last week’s New Yorker magazine...
Considering big oil has enjoyed record profits recently, should they lose their tax breaks? The new U.S. Congress is debating that issue, therefore we debated it too - on CNBC’s "Morning Call." Tyson Slocum, Director of Public Citizen's Energy Program says absolutely--end the tax breaks. “The determining factor in increasing domestic production is the market price of oil being set on Wall Street," says Slocum. "That is the deciding factor....
Oil prices are heading up this morning--currently at a price of $57.27. This comes after a rather steep dive last week. Analysts say the weather (it's 20 degrees warmer than usual right now in New York City) and possible production cuts by OPEC are fueling the rise. Oil is one of the topics tonight on the regular debut of CNBC's "Fast Money" at 8 pm (forgive another shameless plug).
Stocks in the U.S. for now look set for a firmer open on what promises to be a busy day in the markets and a busy day on CNBC. Our correspondents are at major conferences across the U.S. Phil Lebeau is at the auto show in Detroit, where the industry is unveiling new products. Jim Goldman is bringing us the latest tech gadgets from the Consumer Electronics show in Las Vegas....