SINGAPORE, Dec 12- Brent futures edged towards $109 a barrel on Thursday as a looming U.S. budget deal backed expectations the Federal Reserve may act soon to unwind a stimulus programme that has supported oil prices. Expectations are creating a weaker sentiment for oil and other commodities, "said Chee Tat Tan, investment analyst at Phillip Futures in Singapore.» Read More
An increase in summer driving, particularly in the northeastern U.S., provided "a nice pickup in demand" for gas prices, Gulf Oil CEO Joe Petrowski told CNBC Monday.
CNBC's Melissa Lee has the numbers on the weekly oil inventory report, that shows gasoline inventories are up 757K barrels.
August Brent crude futures, while down nearly 1 percent from Monday’s close, remain solidly above $115 a barrel and mirror the relative strength of the OPEC basket price.
The dollar is rising and gold has been gaining too. What's going on? The greenback and gold are usually inversely correlated, so when the dollar goes up, gold goes down and vice versa. But not today—and that highlights the gravity of sovereign debt concerns and worries about the value global currencies, not just the greenback.
CNBC's Bertha Coombs reports on the day's activity in the commodities market and looks ahead to where oil and precious metals are headed next week.
CNBC's Bertha Coombs reports oil prices rallied near the $100 dollar mark on today's strong economic reports.
Tapping the Strategic Petroleum Reserve was supposed to lower oil prices but instead has only raised questions about market manipulation.
Oil is on the rebound. How should investors play it nearing the $100 a barrel, with Pavel Molchanov, Raymond James and Ira Eckstein, Area International Trading Corp.
Crude raced higher Tuesday as energy bulls pushed Nymex oil back toward the $100-a-barrel mark, prices last seen before world governments said they would release crude from their reserves last month.