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  • Saudi oil chief: No conspiracy behind oil prices Sunday, 21 Dec 2014 | 5:57 AM ET

    Non- OPEC member Russia and other nations like Iraq, Iran and Venezuela need prices substantially above present levels to meet budget goals and want to drive prices up. An OPEC meeting last month failed to agree on production cuts, mainly because of Saudi opposition to curb its own exports. OPEC controls about 40 percent of the world oil market and Saudi Arabia is...

  • IRAQ OIL MIN SAYS SEES OIL PRICES STABILIZING AROUND CURRENT LEVEL OF $60/ BBL.

  • *Brent closes above $61, U.S. crude settles above $56. NEW YORK, Dec 19- Oil closed up as much as 5 percent on Friday, its biggest gain in over two years, as some traders took profits on short positions after prices this week hit their lowest since 2009.. Brent's front-month settled up $2.11, or 3.4 percent, at $61.38 a barrel, after closing twice this week below the...

  • *Bremt closes above $61, U.S. crude settles above $56. Brent ended above $61 a barrel, the second time since Wednesday when it closed above the key psychological level of $60, and continued to rise in post-settlement trade. WTI finished above $56, breaking above the $55 resistance.

  • NEW YORK, Dec 19- U.S. stocks gained ground in late afternoon trading on Friday, extending the S&P 500' s best two-day run in more than three years, helped by higher energy shares. Brent crude oil rebounded to end up 3.6 percent at $61.38 a barrel, while WTI crude jumped 4.5 percent to settled at $56.52. Among decliners, shares of Nike shed 2.8 percent, a day after the...

  • Oil closes above $56  Friday, 19 Dec 2014 | 2:55 PM ET

    A look at moves in gas and oil prices ahead of the weekend, with CNBC's Jackie DeAngelis.

  • President Obama shares his view of implications saying Keystone pipeline will impact U.S. gas prices and jobs.

  • These companies can weather the oil pullback: Pro Friday, 19 Dec 2014 | 2:26 PM ET
    Workers connect drill bits and drill collars, used to extract natural petroleum, on Endeavor Energy Resources LP's Big Dog Drilling Rig 22 in the Permian basin outside of Midland, Texas.

    Oil at $50 a barrel is not going to scare some producers, and investors should focus on companies with core acreage in good basins, said Mike Kelly.

  • Currency war: Where's the next battlefield? Friday, 19 Dec 2014 | 2:25 PM ET
    People walk below a board showing currency exchange rates, with a mannequin seen behind a shop window, in central Moscow, Dec. 18, 2014.

    There's a currency war going on and the ruble is just one battle, says "Fast Money" trader Brian Kelly. Where's the next battelfield?

  • MEXICO CITY, Dec 19- Mexico's state oil company Pemex is renegotiating service contracts worth hundreds of millions of dollars in a drive to cut costs as it grapples with falling crude prices, its chief executive said. Mexico's main crude export mix is worth even less, trading around $51 a barrel on Friday, while Pemex's average production costs are about $22 per...

  • Did Russia, North Korea change the market game? Friday, 19 Dec 2014 | 2:03 PM ET
    Traders on the floor of the New York Stock Exchange, December 1, 2014.

    Some big news this week, including Russia and North Korea. Did any change the game for the market? NYSE floor trader Kenny Polcari weighs in.

  • *BRENT CRUDE OIL FUTURES UP $2 A BARREL Friday, 19 Dec 2014 | 1:43 PM ET
  • NEW YORK, Dec 19- U.S. stocks were little changed on Friday after the market's best two-day run in more than three years, with shares of Nike weighing on the Dow while energy shares led a modest advance on the benchmark S&P 500.. Brent crude oil advanced above $60 a barrel on Friday, recovering from near a 5-1/ 2- year low, while WTI crude climbed 3.3 percent to $55.90.

  • Chart shows oil rig count may have long way to fall Friday, 19 Dec 2014 | 1:18 PM ET
    A pedestrian walks past pumpjacks operating at the Inglewood Oil field in Los Angeles.

    Oil rig count numbers have a long way to drop, late to chase the price fall in gas prices.

  • Price pressure inside the Permian Basin  Friday, 19 Dec 2014 | 12:24 PM ET

    CNBC's Brian Sullivan takes a look at companies "weathering" the slowdown in oil production in Texas.

  • Fill'er up: Booming biz for gas station stocks Friday, 19 Dec 2014 | 12:19 PM ET
    File photo of a man putting gas into his Mustang at a Marathon gas station in Chicago, Illinois.

    As oil prices hold at lows, gas station stocks such as CST Brands and Murphy USA may be the best way to play the energy sector, analysts said.

  • West Texas Intermediate crude futures traded above $55 a barrel while benchmark Brent hovered above the psychologically key $60 level, gaining over 2 percent in New York's morning trade. "At least I'm not convinced that with Brent at $60 or WTI above $55, we've seen the bottom yet," said Tariq Zahir, managing member at Tyche Capital Advisors in Laurel Hollow, New...

  • Oil price fuels Carnival Cruises' success  Friday, 19 Dec 2014 | 11:15 AM ET

    Carnival Cruises earnings have beaten expectations in its fourth quarter, with lower fuel prices being a great help, says David Dingle, UK chairman of Carnival Cruises.

  • Howard Marks: Oil prices expose 'debt's weaknesses' Friday, 19 Dec 2014 | 11:36 AM ET
    Oaktree Capital Management co-founder and Chairman Howard Marks speaks during an interview in New York, Sept. 5, 2014.

    Howard Marks thinks that the drop in oil prices could finally expose low lending standards and provide better value in the markets.

  • US STOCKS-Wall Street edges up to extend weekly gains Friday, 19 Dec 2014 | 11:27 AM ET

    *Brent holds above $60 a barrel. Brent crude oil advanced above $60 a barrel on Friday, recovering from near a 5-1/ 2- year low, while WTI crude climbed 3.3 percent to $55.90. It's kind of coming back to where we were about two weeks ago, "said Peter Jankovskis, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois.