NEW YORK, Aug 1- Brent and U.S. crude futures tumbled on Friday to the lowest settlement prices in months, as oversupply in the Atlantic basin and low demand outweighed worries over political tensions in the Middle East, North Africa and Ukraine. "Since June 23, the market's been going down," said Andy Lebow, vice president at Jefferies Bache in New York.» Read More
CNBC's Sharon Epperson has the inventory data on crude oil, gas and distillates. The big surprise is the much greater than expected 3.6 Million Barrel Build in supplies.
CNBC's Sharon Epperson discusses the day's activity in the commodities markets, including a number of refinery closures that could help drive the price of gasoline higher.
Concerns over a Greek debt deal overshadow the possible longer term impact of the EU's embargo of Iranian crude; but a fuel supply issue is more immediate concern to Europe, reports CNBC's Sharon Epperson.
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.