LONDON, Aug 20- Brent crude oil edged higher towards $102 a barrel on Wednesday, after slumping to a 14- month low in the previous session, as growing output from Iraq and Libya despite violence in those countries has kept the market well supplied.» Read More
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.
Michael Langford, Proprietary Trader at StreamTrading.com in Sydney discusses where commodity markets are headed in 2012.
Oil prices could spiral out of control and potentially herald deeper economic hardship for Europe if the European Union joins the US in banning Iranian oil imports, analysts warned on Friday.
Threats from Iran to disrupt oil shipments through the Strait of Hormuz continue, and light sweet crude is bumping up against its 10-month high, John Kilduff, Again Capital, and Edward Morse, Citi, discuss.
CNBC's Sharon Epperson takes a look at the oil inventory data this week, with Addison Armstrong, Tradition Energy.