CNBC's Sharon Epperson reports oil supplies dropped by 10.6 million barrels and gasoline supplies rose by 6.7 million barrels.» Read More
Iranian authorities have reacted to the decision by the European Union on an embargo by calling for an immediate halt to oil sales to the continent. In a statement on its website, the Iranian Oil Ministry described the European Union’s decision as “hasty” and “a political game”.
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.
As oil prices slipped Friday, commodities trader Dan Dicker saw opportunity in oil-services plays.
CNBC's Sharon Epperson reports on the continuous slide in natural gas prices, now at a 10-year low, and how investors who bet on a bounce are getting burned.
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 after the inventory reports.
Oil falls below $100 on initial Keystone reports, with CNBC's Sharon Epperson.
Cramer provides traders advice going into the trading day. Today he highlights the oil and gas group, which he says is heating up mostly because of takeover talk.
CNBC's Courtney Reagan discusses what's happening to drive oil down and the impact concerns over a European downgrade are having on U.S. markets.
As long as it stays with talk, there is sufficient supplies and alternative options that I am not overly concerned with the bottom line, says Nansen Saleri, Quantum Reservoir Impact president/CEO.
Crude futures are back near $103 a barrell on supply concerns. Dan Dicker, president of Merc Bloc, discusses his trade on oil. He also shares his outlook on commodities.
The tensions over Iran and threats from the West to apply sanctions on Iranian oil will see crude prices facing more of an upside risk in the near future, a commodities analyst told CNBC.
The fundamentals in the market are most likely to get more bearish because of the situation in Europe, says Michael Lynch, Strategic Energy & Economic Research president, who also adds any headlines coming out of the Middle East will spark concerns from traders.
Discussing whether a shutdown of the Strait of Hormuz will send brent crude to $200, with Michael Wittener, SocGen, and the direction of oil, with the Fast Money traders.
If Iran were to shut down the Strait of Hormuz, Brent crude would surge to between $150 and $200 a barrel, according to an oil analyst with Societe Generale.
Iranian President Mahmoud Ahmadinejad’s five-day tour of Latin American countries comes at a time of rising tensions with the United States and growing international isolation. The US State Department described Iran’s search for friends as “desperate,” while US Treasury Secretary Timothy Geithner is expected to ratchet up the pressure in a visit to China and Japan.