SINGAPORE, Oct 23- U.S. oil futures fell further on Thursday after losing over $2 the session before as crude stockpiles in the world's top oil consumer surged far more than analysts had expected. *Front-month U.S. crude was down 9 cents at $80.43 a barrel by 0021 GMT. The 12- member OPEC meets on Nov. 27.» Read More
Michael Gallagher, director of research at IDEAglobal, says concern over the "mediocre" global economy and the end of quantitative easing by the Federal Reserve could see the S&P 500 correct further.
Malcolm Wood, Head of Investment Strategy at Morgan Stanley Wealth Management, analyzes the overnight movements in oil and gold prices.
BRENT CRUDE FUTURES EXTEND LOSSES IN POST-SETTLEMENT TRADE, OFF $2.02 AT $83.02/ BBL ON BIG INVENTORY BUILD IN API DATA.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. A volatile day with energy futures. WTI was down slightly on the day, after falling below 80 for the first time since June 2012. Gold was up about $10 on the day.
NEW YORK, Oct 15- Oil prices slumped on Wednesday after a brief bounce from four-year lows failed to gain traction, as equity markets tumbled and economic gloom spread. Brent crude for November delivery, which expires on Thursday, settled $1.26 lower at $83.78 a barrel, after trading earlier as low as $83.37, its weakest since 2010. It fell nearly $4 on Tuesday, the...
Chris Faulkner, Breitling Energy president & CEO, and Stephen Schork, The Schork Report, provide insight to the state of oil amid volatile market conditions.
NEW YORK, Oct 15- Oil prices resumed their slump on Wednesday after a brief bounce from four-year lows failed to gain traction, with U.S. crude approaching $80 a barrel as equity markets tumble and economic gloom spreads. European benchmark Brent has fallen 28 percent since June as OPEC's most influential members see little need to shore up markets by cutting...
*OPEC shows no sign of cutting output to defend oil prices. LONDON, Oct 15- Brent crude bounced off a four-year low on Wednesday to above $85 a barrel, a level that was still down 25 percent since June, as a drop in the value of the dollar attracted some cautious buying in the oil market. U.S. crude gained 40 cents a barrel to $82.24, rebounding by more than $2 after hitting a...
*Falling oil prices still to attract large scale storage at sea. *Oil tanker rates gaining ground after years in doldrums. LONDON, Oct 15- Despite falling oil prices, traders in recent weeks have booked just a few tankers to store cargoes at sea as higher freight costs outweigh any profit play for now.
BRENT CRUDE OIL BRIEFLY TURNS POSITIVE, RETRACING LOSSES AFTER BIGGEST ONE-DAY DROP IN OVER TWO YEARS.
*OPEC shows no sign of cutting output to defend oil prices. LONDON, Oct 15- Brent crude hit a new four-year low on Wednesday before recovering to just under $85 a barrel, as faltering global growth curbed demand for fuel at a time of heavy oversupply. Brent for November delivery touched a fresh post-2010 low of $83.37, down $1.67, before recovering to around $84.80 by...
*Caution reigns after disappointing China inflation reading. LONDON, Oct 15- Global stocks, bond yields and commodity prices slumped on Wednesday as investor fears over the state of the global economy intensified after U.S. producer prices fell for the first time in more than a year. Market volatility has surged in recent weeks as investors weigh the timing of...
*OPEC shows no sign of cutting output to defend oil prices. LONDON, Oct 15- Brent crude fell to a fresh 47- month low on Wednesday before recovering to around $84 a barrel, as faltering global growth curbed demand for fuel at a time of heavy oversupply. "There's broad acceptance by the market that Saudi Arabia is willing to let prices go lower.
*OPEC shows no sign of cutting output to defend oil prices. LONDON, Oct 15- Brent crude fell to a fresh 47- month low on Wednesday, dipping below $84 a barrel as faltering global growth curbed demand for fuel at a time of heavy oversupply. "There's broad acceptance by the market that Saudi Arabia is willing to let prices go lower.
Ole Hansen, Head of Commodity Strategy at Saxo Bank, outlines the factors that could limit declines in oil prices in the near term.
Azlin Ahmad, Editor for Crude Oil at Argus Media, describes the demand and supply issues that are weighing on oil prices.
SEOUL, Oct 15- U.S. crude futures steadied above $82 a barrel on Wednesay in early Asian trade, recovering some ground after diving $4 a barrel in the previous session as investors fretted about ample U.S. shale and OPEC output despite signs of easing demand. *Iran, in a change of tack, is saying it can live with lower oil prices, moving closer to the views of Saudi Arabia...
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets and looks ahead onto where oil prices are likely headed. Oil continued its downward dive, hovering around $83. A severe decrease in demand is one of the reasons why oil is dropping so much.
Discussing what's behind the decline in oil, with Andy Lipow, Lipow Oil Associates. Lipow expects WTI to fall below $80 a barrel.
Discussing oil consumption and how much oil & gas produces actually need to charge to be profitable, with Skip Aylesworth, Hennessy Funds.