• *Brent, U.S. crude fall over $2 a barrel after Wednesday rally. Benchmark Brent and U.S. crude tumbled $2 a barrel each in late trading after initially extending Wednesday's short-covering, which lifted oil prices by more than $3. Some cited a Bloomberg report about a Nigerian port workers union suspending a strike, although workers in that dock union were only...

  • NEW YORK, Dec 18- Global crude prices fell again on Thursday, a day after a short-covering rally, as traders placed new bets that the market would resume a six-month rout on worries about a supply glut. But in late morning trade in New York, benchmark Brent and U.S. crude fell more than $1 a barrel to session lows. "We're continuing to search for a bottom, and might even see...

  • Nigeria central bank saving 'for a rainy day'   Thursday, 18 Dec 2014 | 11:40 AM ET
    Nigeria central bank saving 'for a rainy day'

    Manji Cheto, vice-president of Teneo, explains why the Nigerian central bank has barred banks from dollar holdings.

  • *Governor Godwin Emefiele says wants to stop speculators. LAGOS, Dec 18- Nigeria's central bank has barred banks from holding their own funds in dollars in order to end speculative pressure on the ailing naira currency, the governor said on Thursday. Godwin Emefiele told Reuters in a phone interview that he believed the current naira band, set last month, was "...

  • ABUJA, Dec 17- Nigeria has slashed its forecast for economic growth in 2015 due to the plunge in global oil prices, the finance minister's budget presented to parliament on Wednesday showed. Oil accounts for the bulk of government revenue in Nigeria, but global crude prices have almost halved over the last six months. The 4.3 trillion naira budget is based on a...

  • UPDATE 1-Oil prices slash Nigeria 2015 GDP growth Wednesday, 17 Dec 2014 | 8:51 AM ET

    ABUJA, Dec 17- Nigeria's economy will grow 5.5 percent in 2015, down from an earlier projection of 6.4 percent, due to lower oil revenues, according to the budget the finance minister presented to parliament on Wednesday. The 4.3 trillion naira budget rests on a benchmark oil price of $65 a barrel, down from $77.50 in the 2014 budget, and a significant cut on previous...

  • Ticking time bombs: Where oil's fall is dangerous Tuesday, 16 Dec 2014 | 10:13 AM ET
    Venezuela is one of the nations most threatened by civil unrest resulting from low oil prices. The Latin American nation has already experienced discord this year, as shown in this image of protesters in Caracas in February.

    Lower oil prices are good for some countries and bad for others. In a few, things could get ugly.

  • Cramer Remix: How you'll know when oil's bottomed Friday, 12 Dec 2014 | 7:15 PM ET
    Jim Cramer on Mad Money.

    "Mad Money" host Jim Cramer is looking for some specific signals to spot the end of the slide.

  • Cramer's guide to ending oil's hemorrhage Friday, 12 Dec 2014 | 6:42 PM ET
    Workers use machinery to move drill sections on the drilling floor of the oil derrick in the Salym Petroleum Development oil fields near the Bazhenov shale formation in Salym, Russia.

    What the heck is going on with oil? Jim Cramer can't take the slow death of oil anymore. He shares his guide to navigating this nasty commodity.

  • Cramer Remix: With oil going down, sell this asap Wednesday, 10 Dec 2014 | 7:01 PM ET

    It’s a popular yield play, but the tables have turned due to low oil prices."Mad Money" host Jim Cramer thinks it needs to be sold immediately.

  • Cramer: Joy of consumers vs pain of producers Wednesday, 10 Dec 2014 | 6:12 PM ET
    A customer refuels his vehicle at a U-gas station in Miami.

    Jim Cramer saw that though there was plenty of good news on Wednesday, the agony of the oil producers overshadowed it.

  • The naira is under pressure as falling global oil prices have depressed Nigeria's foreign reserves and the central bank is struggling to keep the currency in a new target band set last week when it devalued the currency by 8 percent to protect its reserves. On Thursday, the finance ministry said it had cut its oil price forecast on which its 2015 budget is based by...

  • OPEC vs US shale: Who will blink first?   Tuesday, 2 Dec 2014 | 6:33 PM ET
    OPEC vs US shale: Who will blink first?

    Dan Eberhart, CEO at Canary, says there is a "battle royale" going on between OPEC and U.S. shale producers.

  • Oil squeezes Venezuela and Nigeria, emboldens Russia: Expert

    Ian Bremmer, Eurasia Group president, discusses the impact of oil's decline on Venezuela, Nigeria, and Russia.

  • LAGOS, Dec 1- Nigeria's central bank failed to keep the naira within its new target band again on Monday and the currency posted a record low closing level as investors continued to fret about the impact of plunging oil prices on Africa's biggest economy. Oil sales provide around 95 percent of Nigeria's foreign exchange and the naira is being driven down by...

  • *Focus on impact of low oil prices on Africa's top producer. LAGOS, Dec 1- The Nigerian naira posted a record low closing level against the dollar on Monday, despite central bank intervention to try and halt its slide, which is being driven by worries about the impact of plunging oil prices on Africa's biggest economy. The central bank has struggled to keep the naira...

  • *OPEC decision not to cut output weighs on Nigeria unit. LAGOS, Nov 28- Nigeria's naira fell 2.5 percent on Friday, despite central bank intervention, and it briefly touched a record low on concerns OPEC's decision not to cut oil output would put further pressure on Nigeria's shaky finances. The central bank has struggled to keep the naira within its preferred band...

  • Oil falls as OPEC opts not to cut production Thursday, 27 Nov 2014 | 1:09 PM ET
    Saudi Arabian Oil Minister Ali al-Naimi.

    The Organization of Petroleum Exporting Countries (OPEC) decided on Thursday not to cut oil production, despite sliding oil prices.

  • OPEC: We want more stability in 2015   Thursday, 27 Nov 2014 | 11:10 AM ET
    OPEC: We want more stability in 2015

    OPEC's first female president, Diezani Alison-Madueke, says that non-OPEC members need to "share the burden" of falling oil prices.

  • Cramer Remix: Here’s the deal on oil and VIX Tuesday, 25 Nov 2014 | 7:19 PM ET
    Jim Cramer on Mad Money.

    Everyone is talking about it ahead of OPEC’s meeting, but "Mad Money" host Jim Cramer has the insight on where he sees oil prices headed.