*No immediate oil glut- Standard Chartered Bank. SINGAPORE, Oct 22- Brent crude futures steadied above $86 a barrel on Wednesday, clinging to gains from the previous session as buyers gradually returned to a market hammered to four-year lows by abundant supply. Brent crude for December delivery was up 17 cents at $86.39 at 0525 GMT, pulling further away from last...» Read More
The chief executive of oil giant Shell predicted that the cost of oil will continue to rise long-term in an interview with CNBC Tuesday.
New information suggests that Iran’s oil production may not have fallen as much as other industry reports have speculated. The latest publication of data by the Joint Organizations Data Initiative (JODI) published on Sunday showed Iran produced 3.72 million barrels per day in January, marking the highest output since December 2008.
The Strategic Petroleum Reserve could still be used to adjust the price of oil, says John Hofmeister, former Shell Oil president/CEO of U.S. operations, who says the SPR is supposed to be a strategic reserve for national security reasons.
Conflicting reports of coordinated spr release sends oil in frenzy, reports CNBC's Sharon Epperson.
A low price range in crude oil has solidified, leading commodities trader Mark Fisher said Wednesday.
CNBC's Sharon Epperson has the details on this week's crude oil inventory data.
The Asia region is expected to drive demand for oil over the course of the year, according to the latest International Energy Agency report.
With commodities enjoying a robust start to 2012, some traders are concerned that crude oil and other hard assets are ripe for a fall.
Oil is caught between two worlds: a stronger dollar and geopolitical risk in Iran, reports CNBC's Sharon Epperson.
Major powers called on Iran to enter "serious dialogue" over its contested nuclear program "without pre-conditions", in a joint statement issued on Thursday following extensive deliberations in Vienna.
Insight on the future of crude oil's prices, with Helge Lund, StatoilHydro ASA, CEO, who discusses the company's future plans with CNBC's Sharon Epperson.
A check on what the charts are telling investors, with Katie Stockton, MKM Partners.
CNBC's Bertha Coombs discusses the day's activity in the commodities markets and what's driving oil. Today, concerns over Iran seemed to wane, which helped drive prices down.
As crude oil prices declined Tuesday, the “Fast Money” traders staked their positions within different sectors of the industry.
"There's nothing inevitable about it," one economist says about the widespread predictions about $5 gas. "To a large extent it depends on what happens in the Middle East."
TransCanada plans to move forward with a portion of the Keystone XL Pipeline, in hopes of boosting the flow of crude from Cushing, OK, to the U.S. Gulf coast, with Alexander J. Pourbaix, TransCanada president.
Discussing some short term plans to reduce oil and gas prices, with T. Boone Pickens, BP Capital Management founder/CEO, who says the U.S. has the cheapest energy in the world.
Fears are growing that rising gasoline prices could stifle economic recovery. Those rising gasoline prices are becoming a subject of hot political debate in a presidential election year. Geopolitics is behind the rising prices, most noticeably due to the increasing tensions over Iran’s nuclear program.
Widely followed commodities trader Dennis Gartman on Monday said he wasn’t concerned about an official slowdown in China.
"Of the last $20 in the Brent crude oil price rise, I would only attribute about $5 to Iran and 15 to liquidity and continued quantitative easing and just the fact that the supply of money continues to rise," Sabine Schels, senior director and global commodity strategist at BofA Merrill Lynch Global Research, told CNBC, because it is "dropping the value of money, relatively to the value of real asset," she explained.