The former Clinton Treasury Secretary tells CNBC he's been taken aback by the perceived connection between oil price weakness and stock declines.» Read More
Oil this week slumped as low as $58.50 and has almost halved since June as fast-growing U.S. shale output overwhelms demand, with losses accelerating after producer group OPEC decided not to cut output at its meeting last month. At 1109 GMT on Thursday, Brent for February delivery was $2.09 higher at $63.27, after settling up $1.17 in the prior session.
Russian President Vladimir Putin says that, despite "turbulence" in financial markets, Russia's economy is doing well and its income will be higher than spending.
Russian President Vladimir Putin says that the fall in oil prices marks a good opportunity for Russia to diversify its economy.
Oil this week hit a five-year low of $58.50 and has almost halved since June as fast-growing U.S. shale output overwhelmed demand, with losses accelerating after OPEC decided not to cut output at its meeting last month. At 0918 GMT on Thursday, Brent for February delivery was $1.10 higher at $62.28, after settling up $1.17 in the prior session.
Michele Della Vigna, head of European energy research at Goldman Sachs, says the fall in oil price and the shale revolution will dramatically change the energy industry.
Brent crude jumped above $62 a barrel, as some traders bet a six-month price rout could end as more energy firms cut investment budgets.
The crux for Russia is whether oil recovers over the next 6-9 months because if it doesn't, the Russian economy will crater, says Boris Schlossberg, Managing Director at BK Asset Management.
TOKYO, Dec 18- U.S. crude futures were little changed above $56 a barrel on Thursday following volatile trading the previous day due to bearish U.S. oil data, Russia's rouble crisis and a U.S. decision to resume diplomatic ties with Cuba after 50 years. *NYMEX crude for January delivery, which expires after Friday's settlement, was up 1 cent at $56.48 a barrel by 0006...
Chevron has put a plan to drill for oil in the Canadian Arctic on hold because of "economic uncertainty" caused by oil's fall.
David Rosenberg, Gluskin Sheff, discusses the price of oil and its descend.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Crude actually ended slightly higher on the day. There was a little bit of buying going into the Fed meeting, traders said.
Oil stocks bounced, in their best day in three years, but oil industry analysts say the equities may be premature in celebrating a bottom in oil prices.
You're going to see volatility here, "said Daniel Flynn, energy analyst at Chicago's Price Futures Group. Brent for February delivery was up $1.05 at $61.06 a barrel by 2:37 p.m. EST, after hitting a session high of $63.40. The biggest slide in oil prices since the 2008 financial crisis had accelerated after OPEC met in November, when Gulf producers resisted calls...
CRUDE OIL FUTURES TURN NEGATIVE POST-SETTLEMENT, AFTER CLOSING SESSION UP 1 PCT AND RALLYING MORE THAN 4 PCT EARLIER.
Federal Reserve Chair Janet Yellen, shares her view of movements in oil prices.
Federal Reserve Chair Janet Yellen discusses whether the committee has concern over global developments on deflation.
Here's what bothers Ron Insana about the Fed's statement — its last of 2014.
ABUJA, Dec 17- Nigeria has slashed its forecast for economic growth in 2015 due to the plunge in global oil prices, the finance minister's budget presented to parliament on Wednesday showed. Oil accounts for the bulk of government revenue in Nigeria, but global crude prices have almost halved over the last six months. The 4.3 trillion naira budget is based on a...
NY will move to prohibit fracking in the state, citing unresolved health issues and dubious economic benefits of the widely used gas-drilling technique.
CALGARY, Alberta, Dec 17- Canadian oil producers deepened 2015 spending cuts on Wednesday, as Husky Energy, MEG Energy and Penn West Petroleum joined those hacking back capital budgets in response to tumbling crude prices. Penn West, one of Canada's largest conventional oil producers, also cut its dividend to 3 Canadian cents per share from 14 Canadian cents.