*Islamic State advances in Iraq, Syria raise supply worries. LONDON, May 22- Oil prices slipped on Friday as worries over the impact of war in the Middle East on crude supplies were outweighed by reports of profit-taking ahead of a long weekend. "No one wants to hold open positions ahead of a long weekend so books are being squared, bringing some consolidation," said...» Read More
Azlin Ahmad, Editor for Crude Oil at Argus Media, describes the demand and supply issues that are weighing on oil prices.
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.
CNBC's Jackie DeAngelis reports WTI is down more than 3 percent today and the IEA has revised its forecast for oil down by 300,000 a day.
CNBC's Jackie DeAngelis reports WTI and Brent crude continue their decline, both off at least 2 percent.
I don't think it can go below $80, says Carl Larry, Oil Outlooks and Opinions, sharing his thoughts on OPEC's high stakes game of chicken with oil prices.
Oil prices should stay at their currently low levels, or drop further, due to a "perfect storm" of risk factors.
Are central bankers worried about deflation? CNBC's Steve Liesman examines inflation and deflation targets and trends and how they play into monetary policy in England.
Saudi Arabia is telling oil market participants that it's fine with lower oil prices for an extended period.
CNBC's Jackie DeAngelis reports oil continues to fall as Middle Eastern producers say they are comfortable with prices where they are and are letting prices slide.
The price of crude oil is down more than 20 percent from its high this year. Breaking down the moves in oil is Matt Smith, Schneider Electric.
Digging into the fundamentals of the oil market, and the state of production, with Dan Dicker, TheStreet.com senior contributor.
Bank of Japan Governor Haruhiko Kuroda, says a lower oil price will benefit Asia's economy.
Iain Armstrong, oil analyst at Brewin Dolphin, says the current low oil price is not sustainable as the major producers will struggle to make money.
Victor Shum, VP of IHS Energy Insight, says OPEC oil producers seem to be entering a war for market share and that will drive prices lower.
Amid factors like a stronger U.S. dollar and slowdown in Europe, only a new supply shock will be able to reverse falling oil prices, says John Kingston, Director of News at Platts.
CNBC's Courtney Reagan reports on the day's activity in the commodities markets. Oil closed around $86 after the Saudis said they would be increasing production. And it was a negative day for metals, even though copper closed up slightly.
John Licata, Founder & Chief Energy Strategist at Blue Phoenix, discusses the significance of the upcoming OPEC meeting for oil prices.
Kurt Cambier, Senior Partner of Centennial Capital Partners, says strong global economic fundamentals will help oil prices to recover soon.