*OPEC surplus nears 10- year high of 2 mln barrels per day. LONDON, April 24- Brent crude edged up on Friday, poised to mark a third consecutive week of price increases as air strikes in Yemen stoked concerns over the security of Middle East oil shipments. A softer U.S. dollar and strong economic indicators in Europe and Asia also lent support to oil prices despite OPEC...» Read More
CNBC's Hadley Gamble discusses what oil price OPEC is comfortable with and how the falling oil price is affecting Saudi Arabia, Iran, Russia and the U.S.
Abdalla Salem El-Badri, secretary general of OPEC, says oil oversupply is not more than 600,000 to 700,000 barrels per day and the fundamentals of the market do not justify falling oil prices.
Matt Smith, Commodity Analyst at Schneider Electric, says OPEC's forecast for oil to average at $110 by 2020 remains realistic, but warns that prices will stay low over the next 6 months.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.
"We're in a place where the world understands the power of the U.S. oil economy," says Chad Brownstein, Rocky Mountain Resources. James Cordier, OptionSellers.com founder, explains why OPEC is assisting oil's fall.
Discussing if oil has bottomed and how the Saudi's plan to hold onto market share, with John Kilduff, Again Capital.
Economic troubles at the only remaining rival bidder for the 2022 Olympics have left an open path for Beijing to host again.
NEW YORK, Nov 6- Oil markets fell back on Thursday after a one-day spike as worries about high supplies returned to haunt traders, while the dollar pressed on with its rally which weighed on commodities priced in the currency. Benchmark Brent was down 60 cents, or 0.7 percent, at $82.35 a barrel by 11:20 a.m. EST. U.S. crude was off $1.05, or 1.3 percent, at $77.63, after...
CNBC's Jackie DeAngelis reports natural gas inventories rises 91 billion cubic feet.
Discussing global oil production, CNBC's Jim Cramer says you're not going to see oil rise until the Saudi's make a deal with Venezuela.
The "Squawk on the Street" news team discusses what's working for the U.S. stock market after a wave of positive economic news in the U.S. and Europe.
Michele Della Vigna, head of European energy research at Goldman Sachs, says big oil companies need Brent crude at $110 per barrel to cover capital expenditure and dividend costs, but adds the oil price will remain under pressure in 2015.
Joe Kaeser, CEO of Siemens, says there is "strategic rationale" behind continuing to carve up the company's health care businesses.
Joe Kaeser, CEO of Siemens, says he is not concerned that the falling oil price will weaken demand for the company's wind turbine generation technology.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Crude bounced in the morning after reports of an explosion at a Saudi pipeline. That and a bullish inventory report drove the price up a bit.
Now that Republicans are taking control of the Senate, John Kingston, Platts director, discusses what that means for Keystone XL legislation and export laws.
NEW YORK, Nov 5- Oil prices jumped on Wednesday, with Brent rebounding from a four-year-low, as traders reacted to rumors of a pipeline blast in Saudi Arabia and bullish U.S. crude stocks data. An unconfirmed market rumor of an oil pipeline explosion in Saudi Arabia had sent the market surging earlier. But we did calm down after that and step back and look at the bigger...
While oil is trading higher, there has been a major decline in the price of crude over the past few days. CNBC's Michelle Caruso-Cabrera goes to the charts to look back on oil production trends in the U.S.
NEW YORK, Nov 5- U.S. and Brent crude futures extended gains on Wednesday on an unconfirmed market rumor of an oil pipeline explosion in Saudi Arabia. Brent December crude futures were up $1.60 at $84.42 a barrel at 11:02 a.m. EST, after jumping to $84.45. December crude was up $2 at $79.19 a barrel, having reached $79.35.
U.S., BRENT CRUDE CRUDE FUTURES EXTEND GAINS ON UNCONFIRMED MARKET RUMOR OF OIL PIPELINE EXPLOSION IN SAUDI ARABIA.