• News of the switch for the 60,000 barrel-per-day pipeline has already sharply narrowed the discount for WTI delivered at Midland to that at Cushing, the delivery point for the benchmark U.S. crude futures contract.

  • NEW YORK, Aug 22- U.S. crude oil futures fell on Friday, putting them on track for a fifth straight week of declines, while Brent remained under pressure from a stronger dollar and plentiful supplies despite an escalation of tensions between Russian and Ukraine.

  • U.S. crude for October was down 87 cents at $93.11 a barrel by 11:13 a.m. EDT. "I think the market is still reflecting on the big build in Cushing this week," said Dominick Chirichella, senior partner at Energy Management Institute.


  • Gas priming economic pump     Friday, 22 Aug 2014 | 7:46 AM ET

    On the supply side, lower gas prices has the same impact as a tax cut, says Michael Darda, MKM Partners chief economist.

  • Oil price check up     Friday, 22 Aug 2014 | 7:44 AM ET

    Tom Kloza, Gasbuddy.com chief oil analyst, shares his outlook on gas and oil prices.

  • Inside North Dakota's latest fracking problem Friday, 22 Aug 2014 | 8:00 AM ET
    Oil rig workers drill into the Bakken shale formation outside Watford City, N.D.

    As regulators crack down on natural gas flaring in North Dakota, energy companies are scrambling to meet the rules.

  • *Libya loads second cargo at largest port Es Sider. LONDON, Aug 22- Brent crude oil futures drifted lower on Friday, further below $103 a barrel, as a strong dollar and plentiful supplies continued to pressure prices. "We've reached a stage where the market is looking to stabilise a bit," said Ole Hansen, senior commodity strategist at Saxo Bank.

  • *Libya loads 2nd cargo at largest port Es Sider. SINGAPORE, Aug 22- Brent was trading below $103 a barrel on Friday, heading for a second weekly loss as easing geopolitical risks and higher global oil supply pressured prices. The Organization of the Petroleum Exporting Countries pumped more oil in July despite conflicts in the Middle East and Africa.

  • US oil ends under $94, extending 5-week rout Friday, 22 Aug 2014 | 2:49 PM ET
    Pump jacks and wells in an oil field on the Monterey Shale formation near McKittrick, Calif., March 23, 2014.

    U.S. oil futures closed out a fifth straight week of declines, under pressure on a strong dollar and plentiful supplies.

  • *U.S. crude futures for October delivery fell 6 cents to trade at $93.90 a barrel as of 0004 GMT. *An Iraqi Kurdish crude oil tanker has reappeared off the coast of Israel having offloaded its cargo, ship tracking data on Reuters showed, in the latest sign the autonomous region is finding buyers for its oil in defiance of Baghdad.

  • Burning mad in the Bakken     Thursday, 21 Aug 2014 | 4:50 PM ET

    Due to a lack of storage, energy in North Dakota is being burned off. CNBC's Morgan Brennan reports drillers flare off more than $100 million worth of natural gas each month.

  • Weak data on China's factory output weighed on oil prices early. NEW YORK, Aug 21- U.S. and Brent crude futures rose on Thursday, lifted by supportive economic data from the United States after a plentiful supply picture and Chinese economic data had earlier pressured prices.

  • Fracking vs. farming     Thursday, 21 Aug 2014 | 2:25 PM ET

    Tensions are mounting between ranchers and farmers, and the oil and gas industry, reports CNBC's Morgan Brennan.

  • NEW YORK, Aug 21- U.S. and Brent crude futures rose on Thursday, lifted by supportive economic data from the United States after a plentiful supply picture and Chinese economic data had earlier pressured prices.

  • *U.S. CRUDE OIL FUTURES RISE MORE THAN $1 PER BBL Thursday, 21 Aug 2014 | 12:10 PM ET
  • Battle in the Bakken: Alternatives to flaring     Thursday, 21 Aug 2014 | 7:53 AM ET

    CNBC's Morgan Brennan reports on some of the creative ways drillers are cutting down on the controversial practice of burning off excess gas produced in the Bakken.

  • Bakken nat gas buildout 'flares' controversy     Thursday, 21 Aug 2014 | 6:47 AM ET

    Drillers in North Dakota only capture about 68 percent of the gas they find and burn off the rest, resulting in flaring. Now the rush is on to find ways to meet new regulations to curb the flaring, reports CNBC's Morgan Brennan.

  • *Saudi Arabia pumps 10 million bpd in July. The world's top two crude oil benchmarks have fallen by more than $10 a barrel since June on a build-up of supply in the Atlantic Basin and diminishing worries over the risk that conflicts in the Middle East would hit oil production.

  • Oil hits 14-month low as bulls eye turnaround Thursday, 21 Aug 2014 | 5:53 AM ET
    A gas flare is seen at an oil well site outside Williston, North Dakota.

    The price of Brent crude hit a 14-month low on Thursday, but market analysts now believe that oil could find a floor and expect prices to stabilize.