NEW YORK, July 31- U.S. crude oil futures plunged by nearly $2 and Brent crude oil futures fell by more than $1 per barrel on news that the 115,000- barrel-per-day Coffeyville, Kansas, refinery could be down for four weeks following a July 29 fire.» Read More
WTI crude futures have fallen more than 27 percent since their February high, taking the market by surprise and rendering airline hedges — originally intended to ease the economic pain of higher fuel prices — largely ineffective.
A look at the latest market moves and how to trade them, with Jack Bouroudjian, Bull and Bear Partners CEO.
Tom Essaye, Kinsale Trading president provides his forecast on oil prices and where to find the best risk/reward plays.
Airlines, trucking companies and other big energy consumers are betting on further oil price falls, with many reluctant to lock in at current levels amid fears prices could plunge if the global economy weakens further. The FT reports.
Mike Harrowell, Senior Resources Analyst, BBY explains why he is confident that gold will remain a safe haven.
CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.
John Hofmeister, founder and CEO of the nonprofit Citizens for Affordable Energy and Shell Oil’s former U.S. CEO, tells CNBC that looming EU sanctions aimed at punishing Iran for continuing its nuclear program will be “a non-event.”
The increase in demand for oil from emerging countries is not enough to counteract the fall in demand from established economies, Alejandro Barbajosa, oil markets specialist at Argus Media told CNBC.
Dominic Schnider, Head Commodity Research, UBS Wealth Management says that non-Opec oil supply growth to outpace global demand.
As oil enters bear market territory, do currencies predict more pain for crude? Dennis Gartman of The Gartman Letter, explains how an increased supply of crude oil from more global fracking is pushing prices lower.
Is the U.S. better off importing some of its oil? John Kingston, Platts global news director, and John Eichberger, NACS of government relations, discuss whether the nation will become energy independent.
"There certainly isn't enough certainty about fiscal policy and enough monetary stimulus available," says Tony Crescenzi, PIMCO portfolio manager, explaining why the U.S. economy is showing signs of weakness, with Doug Holtz-Eakin, American Action Forum president.
"We definitely want to make sure that inflation does not get out of hand," says Bill Strauss, Federal Reserve Bank of Chicago, providing an insider look at the Fed's policy decision to downgrade its economic growth forecast and extend "Operation Twist".
CNBC's Kelly Evans reports on all the market moving events from Europe, including the drop in gold and copper prices, but a slight increase in oil.
Oil fell to its lowest levels in a year and a half on Thursday, the outlook for oil remains weak and sanctions imposed on Iran are likely to make matters worse, Dan Yergin, co-founder and chairman of energy research consultancy Cambridge Energy Research Associates (IHS CERA) told CNBC.
Commodities bulls may have finally “thrown in the towel,” Marc Faber, the editor and publisher of the Gloom, Boom and Doom report told CNBC, after commodities suffered their biggest one-day fall this year on Thursday.
Nick Trevethan, Senior Commodities Strategist, ANZ Research says aluminum prices have suffered from the global synchronous slowdown. He adds the metal remains at risk and is currently oversold.
Jonathan Barratt, CEO & Founder of Barratt's Bulletin, says that commodity investors have to sit on the sidelines, because there is no confidence in the market.
CNBC's Courtney Reagan discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.
Jeffrey Grossman, BRG Brokerage president and Tom Kloza, OPIS co-founder, discuss whether gas could be headed below $3/gallon.