CNBC's Bob Pisani looks at what stocks and sectors are leading this morning's "selective" market rally. Pisani also takes a look at the consistency of the Santa Claus rally.» Read More
Ivan Szpakowski, Analyst, Commodities Research at Citi, expects more downside risks for fuel prices moving forward and explains what that means for China's oil production growth next year.
Oil fell below $61 a barrel on Monday, reversing gains after Saudi Arabia indicated it could increase its output.
Mike Harrowell, Director of Resources Research at BBY, says oil prices could fall to $15-20 a barrel unless Saudi Arabia cuts output to restore market balance.
Joe Magyer, Senior Advisor at The Motley Fool, says markets should be concerned with the collective fall in commodity prices, which could be reflecting a weakening world economy.
SEOUL, Dec 22- U.S. crude futures rose to near $57.50 a barrel in early Asian trades on Monday, extending gains in the previous session helped by profit-taking on short positions, but the rise was capped by Saudi Arabia saying it would not cut output to prop up markets. *Saudi Arabia said on Sunday it would not cut even if non- OPEC nations did so, in one of the toughest...
The United Arab Emirates on Sunday urged oil producers not to raise their output for 2015. John Kingston, Global Director of News, Platts, discusses whether that could solve oversupply woes in oil markets.
What do T. Boone Pickens, a former NYMEX chairman and a pizza food truck have in common? A lot more than you might think.
Non- OPEC member Russia and other nations like Iraq, Iran and Venezuela need prices substantially above present levels to meet budget goals and want to drive prices up. An OPEC meeting last month failed to agree on production cuts, mainly because of Saudi opposition to curb its own exports. OPEC controls about 40 percent of the world oil market and Saudi Arabia is...
IRAQ OIL MIN SAYS SEES OIL PRICES STABILIZING AROUND CURRENT LEVEL OF $60/ BBL.
Noted investor Dennis Gartman told CNBC he's like to think oil is stabilizing, with the vast majority of the move over.
CNBC's Tyler Mathisen looks ahead to what are likely to be next week's top business and financial stories. Christmas is this week and retailers are hoping for a big Super Saturday.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil tried to stabilize today on short covering heading into the weekend.
*Brent closes above $61, U.S. crude settles above $56. NEW YORK, Dec 19- Oil closed up as much as 5 percent on Friday, its biggest gain in over two years, as some traders took profits on short positions after prices this week hit their lowest since 2009.. Brent's front-month settled up $2.11, or 3.4 percent, at $61.38 a barrel, after closing twice this week below the...
*Bremt closes above $61, U.S. crude settles above $56. Brent ended above $61 a barrel, the second time since Wednesday when it closed above the key psychological level of $60, and continued to rise in post-settlement trade. WTI finished above $56, breaking above the $55 resistance.
NEW YORK, Dec 19- U.S. stocks gained ground in late afternoon trading on Friday, extending the S&P 500' s best two-day run in more than three years, helped by higher energy shares. Brent crude oil rebounded to end up 3.6 percent at $61.38 a barrel, while WTI crude jumped 4.5 percent to settled at $56.52. Among decliners, shares of Nike shed 2.8 percent, a day after the...
A look at moves in gas and oil prices ahead of the weekend, with CNBC's Jackie DeAngelis.
President Obama shares his view of implications saying Keystone pipeline will impact U.S. gas prices and jobs.
Oil at $50 a barrel is not going to scare some producers, and investors should focus on companies with core acreage in good basins, said Mike Kelly.
There's a currency war going on and the ruble is just one battle, says "Fast Money" trader Brian Kelly. Where's the next battelfield?
MEXICO CITY, Dec 19- Mexico's state oil company Pemex is renegotiating service contracts worth hundreds of millions of dollars in a drive to cut costs as it grapples with falling crude prices, its chief executive said. Mexico's main crude export mix is worth even less, trading around $51 a barrel on Friday, while Pemex's average production costs are about $22 per...