A return of Iran's oil supply, alongside a surge in U.S. shale oil production, will have downward effects on oil prices, says David Hewitt, co-head of Global Oil & Gas Equity Research at Credit Suisse.» Read More
Crude oil prices firmed slightly on Wednesday as worries over Iran's nuclear ambitions countered easing fears of a gasoline supply crunch in the United States this summer driving season.
U.S. crude oil futures dipped this afternoon on book-squaring and crack-spread trading ahead of Wednesday's government inventory report. Front month crude futures earlier rose above $64 as a shut Canada-to-U.S. crude pipeline and a Texas refinery's restart were supportive.
U.S. crude oil futures rose in choppy trading, with products futures slumping as crude was pressured by OPEC comments on supply and demand and by news that Shell expects to resume its Nigeria Forcados crude stream in late May or early June.
Oil prices eased slightly on Friday after the top U.S. energy official said he was confident there would be enough gasoline supply to meet peak summer driving demand.
Oil markets are nervous animals nowadays. Given the tensions between Iran and the U.K. since late March over Tehran's seizure of 15 British sailors, the prospect of diplomatic efforts failing to solve the stand-off haunted the market. That's raised fears of a military confrontation in the Persian Gulf. After Iran pardoned and freed the 15 sailors, the market was so relieved that oil prices dropped by over $2.
U.S. crude oil finished just short of $64 as gasoline futures surged to new eight-month highs on troubles at two refineries. The production disruptions raised fears of a gasoline supply crunch when drivers hit the roads this summer.
Crude oil and gasoline prices surged higher on news that U.S. gasoline supplies had fallen much more than expected.
Oil prices rose after four straight losing sessions as markets turned attention to Iran's nuclear activities and dwindling gasoline stocks in the United States, the top consumer.
After a few years (or decades) covering financial markets, you gain the ability to predict with uncanny insight how certain events might affect trading that day. You also gain the ability to get it completely wrong. We knew that Iranian officials would be coming out with a statement regarding the country’s controversial nuclear program, and we know that oil traders are mega-sensitive these days about Iran, especially following the recent capture and release of British military personnel. A sure sign of higher prices for oil, right? Nope. ...
Oil fell more than 4% on Monday, extending declines that followed Iran's release last week of 15 British sailors and marines. The loss was the largest since August 17, 2005.
Halliburton said all of the commitments of its subsidiary doing business in Iran have been completed and it is no longer working in the country.
Stocks finished higher during a holiday-shortened week, helped by a spate of merger announcements and an easing of geopolitical tensions after Iran released 15 British sailo
Oil fell on Thursday after Iran's release of 15 British sailors and marines eased worries over crude shipments from the world's fourth-largest exporter.
The Gas Exporting Countries Forum -- which includes names like Iran and Venezuela -- meets in Qatar Monday to discuss the formation of an OPEC-like cartel. Would such a combination pose a clear and present danger to America's interests? Two energy analysts told "Morning Call" viewers not to worry. Not yet, anyway.
Is gold really a good investment -- or does it sit in your portfolio like a brick? John Reade, head of metals strategy at UBS, gave "Squawk on the Street" viewers his take on the ancient commodity. Reade noted that oil prices climbed during the recent diplomatic tensions between Britain and Iran, and asked why gold -- the traditional haven during times of strife -- didn't experience a similar rise...
Stocks are barely changed ahead of the opening and are likely to trade with some trepidation ahead of a three day holiday weekend. Tomorrow's jobs report is a big point of interest, but stock traders will be home watching their bond market brethren trade the number on a special jobs Friday edition of Squawk Box.
U.S. crude oil futures ended lower on Wednesday on U.S. government data showing crude stocks rose by a larger-than-expected volume last week and as international tensions eased after Iran said it was releasing 15 captured British sailors and marines.
Oil slid Wednesday, as the Iran hostage drama seemed to near an end. But two fund managers told "Morning Call" that the volatile Islamic nation actually did little to affect the markets. Instead, earnings and private equity are the real story.Steve Folker, managing director, growth strategies for Fifth Third Asset Management, said that fundamentals, not geopolitics, control oil prices -- and he predicted that those marketplace laws will continue to send oil lower.
The U.S. Securities and Exchange Commission and the U.S. Department of Justice have summoned the chief executive of French energy giant Total to explain the group's activities in Iran, a French newspaper said on Tuesday.
U.S. oil fell 2% after Britain and Iran said they were willing to use diplomacy to end their standoff over 15 British sailors and marines seized in the Gulf.