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  • NEW YORK, May 22- Oil fell more than 1 percent on Friday as a rallying dollar and profit-taking ahead of a long U.S. holiday weekend cut short a two-day run-up in crude prices. Drillers cut the number of U.S. oil rigs in operation by just one this week, the strongest sign yet that a nearly six-month slump in activity was ending, data from oil services firm Baker Hughes...

  • Hess lost 2 percent and Newfield Exploration declined 1.3 percent. Oil fell 95 cents, or 1.6 percent, to $59.77 a barrel. Campbell Soup rose 2 percent after its earnings came in ahead of what analysts were looking for.

  • *Coming up: Baker Hughes rig count at 1700 GMT. NEW YORK, May 22- Oil fell more than 1 percent on Friday as a rallying dollar and profit-taking ahead of a long U.S. holiday weekend cut short a two-day run-up in crude prices. U.S. crude was down 95 cents at $59.77 a barrel by 11:45 a.m. EDT.

  • OIL DROP: The price of oil fell $1.05, or 1.8 percent, to $59.66 a barrel, helping push down the stocks of drillers and other energy-related companies. Hess Corp. lost 1.4 percent. THE QUOTE: "We don't think inflation is really a problem," said Jim McDonald, chief investment strategist at Northern Trust.

  • *Islamic State advances in Iraq, Syria raise supply worries. LONDON, May 22- Oil prices slipped on Friday as worries over the impact of war in the Middle East on crude supplies were outweighed by reports of profit-taking ahead of a long weekend. "No one wants to hold open positions ahead of a long weekend so books are being squared, bringing some consolidation," said...

  • *Islamic State advances in Iraq, Syria raise supply worries. LONDON, May 22- Oil prices steadied on Friday as worries over the impact on crude supplies of war in the Middle East were balanced by reports of profit-taking ahead of a long weekend. "No one wants to hold open positions ahead of a long weekend so books are being squared, bringing some consolidation," said...

  • *Unipec's oil stored on huge tanker close to Singapore. NEW DELHI/ SINGAPORE, May 22- Chinese trader Unipec has sold 2 million barrels of crude held for months on one of the world's largest tankers, industry sources said, as rising oil prices prompt commodity firms to offload cargoes from floating storage. The crude will be delivered from the TI Europe, an Ultra Large...

  • *Coming up: Baker Hughes weekly U.S. rig data. SINGAPORE, May 22- Oil prices edged down on Friday after rising more than 2 percent in the previous session, buoyed by lower U.S. crude inventories and geopolitical tension in the Middle East. West Texas Intermediate for July delivery was at $60.61 a barrel by 0452 GMT, down 11 cents on the day but poised to post gains for the...

  • Oil edges down but WTI set for record 10th week of gains Thursday, 21 May 2015 | 10:50 PM ET

    *Coming up: Baker Hughes weekly U.S. rig data. SINGAPORE, May 22- Oil prices edged down on Friday after rising more than 2 percent in the previous session, buoyed by lower U.S. crude inventories and geopolitical tension in the Middle East. July Brent crude fell 23 cents to $66.31 a barrel by 0246 GMT after closing up 2.3 percent on Thursday.

  • Oil holds steady after weekly rig count falls by 1 Friday, 22 May 2015 | 1:45 PM ET
    An oil pump jack in the oil town of Gonzales, Texas.

    The weekly rig count has fallen every week since Dec. 12, though the pace of declines has fallen in recent weeks.

  • *Islamic State fighters have scored twin successes in Syria and Iraq, taking full control of the historic Syrian city of Palmyra and overrunning Iraqi government defences east of Ramadi on Thursday. *Islamic State militants have seized the last border crossing between Syria and Iraq controlled by the Syrian government, a Syrian human rights group said on...

  • Crude oil: Friend or foe?   Thursday, 21 May 2015 | 5:05 PM ET
    Crude oil: Friend or foe?

    Is oil a friend or foe of the stock rally? The Fast Money panel discusses.

  • Commodities tomorrow: Crude climbs   Thursday, 21 May 2015 | 4:00 PM ET
    Commodities tomorrow: Crude climbs

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Crude was up $1.74 to cross the $60 threshold.

  • Salesforce.com was among the big gainers Thursday after reporting results that beat analysts' forecasts. Best Buy was also up after reporting strong earnings. Oil rose $1.74, or 3 percent, to $60.72 a barrel following reports that U.S. storage levels are falling.

  • Transports running on fumes?   Thursday, 21 May 2015 | 3:27 PM ET
    Transports running on fumes?

    Discussing energy fundamentals and which industries are impacted by the price of oil, with Jason Seidl, Cowen Group, and Donald Broughton, Avondale Partners.

  • *Islamic State attacks in Iraq lend further support. NEW YORK, May 21- Oil prices jumped more than 2 percent on Thursday, giving Brent its biggest rally in more than a week, as draws reported in the Cushing delivery point for U.S. crude futures boosted optimism that a supply glut was easing. Fighting in Iraq that raised worries about the security of Middle East oil...

  • NEW YORK, May 21- Equity markets inched ahead on Thursday, with investors brushing aside mixed economic data in Europe and the United States, while the dollar slipped after a three-day rally and U.S. Oil prices rallied almost 3 percent, with Brent crude topping $66 a barrel on signs a global supply glut may be starting to ease. Wall Street's benchmark S&P 500 index,...

  • Oil spill cleanup near Santa Barbara   Thursday, 21 May 2015 | 2:06 PM ET
    Oil spill cleanup near Santa Barbara

    CNBC's Scott Cohn reports Plains All American Pipeline are working to recover leaked oil from the ocean in California.

  • Climbing gas prices   Thursday, 21 May 2015 | 2:01 PM ET
    Climbing gas prices

    Insight to why gas prices are rising into summer, with Jack Ablin, BMO Private Bank, and Kyle Cooper, IAF Advisors & Criterion Research.

  • Energy stocks cheapest in nearly 30 years: Analyst Thursday, 21 May 2015 | 1:17 PM ET

    Bank of America Merrill Lynch raised its opinion of stocks in the energy sector, recommending clients overweight the shares in their portfolios.