Oil prices fell on Thursday after hitting 2015 highs as an OPEC delegate indicated the group would stick to its strategy of pursuing market share.» Read More
*OPEC indicates it will not cut output alone. OPEC comments made overnight also indicate that core Gulf oil producers are not wavering in their strategy to focus on market share rather than cutting output alone, suggesting big policy changes are unlikely at the June meeting unless non- OPEC producers change their stance. As a result, benchmark Brent crude...
If you've been waiting for the right price on an electric vehicle, Tesla is tempting you to click "buy."
*Brent rises above $69, U.S. crude above $62, before paring gains. NEW YORK, May 6- Oil prices hit 2015 peaks on Wednesday amid the first drawdown in U.S. crude inventories since January, before settling off their highs as investors and traders moved to take profits on a multi-week rally. U.S. crude futures rallied more than $2 to the year's high of $62.58 a barrel, before...
With oil prices up, will companies dive back into drilling and fracking? Insight, with John Kilduff, Again Capital, and Dennis Gartman of the Gartman Letter.
*Brent rises above $69, U.S. crude above $62, before paring gains. U.S. crude futures rallied more than $2 to the year's high of $62.58 a barrel before consolidating to show an 80 cent gain at $61.20 a barrel by 12:54 p.m. EDT. Futures of U.K. North Sea Brent, the more globally-used benchmark, were up 60 cents at $68.12 a barrel, having reached a 2015 peak of $69.93 earlier.
Despite oil prices hitting a 2015 high, global demand remains soft and higher prices are transitory, analyst Francisco Blanch says.
News Corp., which publishes The Wall Street Journal, fell 7 percent after its results missed analysts' forecasts. Noodles& Co. plunged 18 percent after also reporting disappointing results. Oil rose 52 cents to $60.91 a barrel.
NEW YORK, May 6- U.S. crude oil stockpiles fell last week for the first time since the week ending Jan. 2 as imports slowed, while gasoline and distillate inventories rose, data from the Energy Information Administration showed on Wednesday. "Lower imports seem to be the main driver for the draw down," said Dominick Chirichella, senior partner at the Energy Management...
CNBC's Kate Kelly reports on Pioneer Natural Resources' response to David Einhorn's analysis of the company.
CNBC's Rick Santelli asks Yra Harris, Praxis Trading partner, how the market is handling the move in energy prices as well as the European bond market outlook.
Francisco Blanch, BofA Merrill Lynch head of commodities, shares his firm's view of fracking companies. He says a lot of the shale companies will do OK as long as WTI prices revert back to around $75 per barrel.
After a weak crude oil draw, where inventories fell by 3.9 million barrels, Francisco Blanch, BofA Merrill Lynch head of commodities, discusses whether oil is just up from here.
CNBC's Jackie DeAngelis reports the draw down in crude oil inventories came in more than expected.
CNBC's Jim Cramer explains why he does not like oil prices rising every day.
NEW YORK— U.S. stocks fell across industries on Wednesday as investors worried over stock valuations, economic growth and rising interest rates. A comment from Federal Reserve Chair Janet Yellen suggesting that stocks are generally overvalued added to the selling pressure. "There are creeping worries that inflation, which was seen as non-existent, will soon...
A North Dakota town was evacuated after an BNSF oil train derailed.
CNBC's Jim Cramer explains why he does not like oil's sudden price surge.
*Azeri, African, North Sea oil languishes unsold. Tens of millions of barrels are struggling to find buyers in Europe with traders of West African, Azeri and North Sea crude blaming poor demand. Benchmark Brent oil futures prices more than halved between June 2014 and January 2015 after OPEC refused to cut output and instead chose to undercut more expensive...
*Reflation putting end to deflation scare. SYDNEY/ LONDON, May 6- A rapid revival of commodity prices and a sudden sell-off in top-rated, low-yielding bonds have signalled the passing of this year's global deflation scare, forcing a rethink of both the consumer price outlook and investments worldwide. "There has been a profound easing in financial conditions...