Somshankar Sinha, Head of Oil & Gas Sector, Asia Ex-Japan Equity Research at Barclays, says higher oil and gas prices will support PetroChina's earnings, but warns of continued risks from its chemical unit.» Read More
*OPEC output rises in Aug from July- survey. *Russian troops enter Ukraine, tensions flare. SINGAPORE, Aug 29- Brent crude held above $102 a barrel on Friday, but prices were heading for a second monthly loss as ample supply and softening demand in Europe and China outweighed geopolitical concerns.
*Russian troops enter Ukraine, tensions flare. *OPEC output rises in Aug from July- survey. SINGAPORE, Aug 29- Brent crude held above $102 a barrel on Friday, but prices were heading for a second monthly loss as ample supply and softening demand in Europe and China outweighed geopolitical concerns.
SINGAPORE, Aug 29- U.S. crude futures stayed above $94 a barrel on Friday, holding overnight gains as positive economic data boosted the outlook for demand in the world's largest oil consumer. *U.S. crude had edged down 2 cents to $94.53 a barrel by 0024 GMT, after settling up 67 cents on Thursday.
*Fire hits BP's largest U.S. refinery, at Whiting, Indiana. LONDON, Aug 28- Brent crude oil steadied around $103 a barrel on Thursday, not far above 14- month lows on ample supply and lacklustre demand as global economic growth remained tepid.
John Hofmeister, Citizens For Affordable Energy, makes the case for using natural gas as the transportation fuel. "This is not putting the oil companies out of business, or attacking fossil fuels," he says.
BP said its largest U.S. refinery, at Whiting, Indiana, continued to operate on Thursday morning following a blaze the night before.
*Fire hits BP's largest U.S. refinery. *Hope fades for Ukraine- Russia ceasefire deal. SINGAPORE, Aug 28- Brent futures dipped on Thursday, but still held between $102 and $103 a barrel, as ample supply and a refinery fire in the United States that could reduce crude demand weighed on prices.
*Hopes of Ukraine- Russia ceasefire deal dim. SINGAPORE, Aug 28- Brent crude dipped on Thursday, but still held between $102 and $103 a barrel, as expectations of ample supply weighed on prices. October Brent crude has been unable to break through the $102- $103 range this week, just off a 14- month low hit last week.
U.S. oil rose on Thursday, boosted by strong U.S. data, but ample supply and a refinery fire in the United States contained prices.
SINGAPORE, Aug 28- U.S. crude held near $94 a barrel on Thursday after a neutral inventory report, with investors looking ahead to economic data to gauge the outlook for demand in the world's largest oil consumer. *U.S. crude had edged down 13 cents to $93.75 a barrel by 0033 GMT.
*Cushing up 508,000 bbls- EIA. NEW YORK, Aug 27- Crude oil futures settled flat after choppy trading on Wednesday, following a report that showed declining U.S. gasoline demand in the world's top oil consumer and a build at the key Cushing, Oklahoma, storage hub.
CNBC's Bertha Coombs discusses the day's activity in the commodities markets. Crude continues to head south, even though geopolitical events keep a floor around the low $90s.
The late summer slide in global crude oil prices will push the cost of U.S. gasoline to its lowest Labor Day level since 2010. USA Today reports.
The price of oil continues to slide, and it's the birthday of commercial oil wells in the U.S. CNBC's Rick Santelli checks on corn and wheat prices.
*Cushing up 508,000 bbls- EIA. In its weekly report, the U.S. Energy Information Administration said U.S. crude oil stocks fell by a greater-than-expected 2.07 million barrels last week, but inventories at Cushing, the delivery point for U.S. crude futures, rose 508,000 barrels.
*Cushing up 508,000 bbls- EIA. LONDON, Aug 27- Brent crude oil rose towards $103 a barrel on Wednesday, recovering from a 14- month low hit last week as traders monitored maintenance work in the North Sea and as U.S. crude oil inventories fell.
CNBC's Bertha Coombs reports crude oil inventories fell unexpectedly last week.
CNBC's Bertha Coombs reports on energy prices ahead of weekly inventory data.
Russian Energy Minister Alexander Novak dismissed Ukraine's claims that Moscow plans to block gas transit to Europe.