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CNBC's Tyler Mathisen looks ahead to what are likely to be next week's top business and financial stories. Earnings season kicks into high gear with Alcoa, and financials Wells Fargo and JPMorganChase report on Friday. And AirBus is coming to Mobile, AL.
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NEW YORK, April 4- Brent crude prices fell to a five-month low near $105 a barrel on Thursday as a jump in U.S. jobless claims sparked a second day of heavy selling across oil markets. "Data has been disappointing all week long, and the oversupply of crude just confirmed that," said Bill Baruch, senior market strategist at iitrader.com LLC in Chicago.
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Rich Ilczyszyn, founder of iiTrader, looks at key levels for black gold.
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LONDON, April 4- Brent crude oil steadied at around $107 per barrel on Thursday after its biggest fall in five months on signs of faltering economic growth and rising stocks of fuel. "Investors are shifting out of oil and commodities and into equities after poor returns," said Eugen Weinberg, head of commodities research at Germany's Commerzbank.
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Saudi Aramco raised the official selling price for its main Arab Light grade for May to a premium of $1.80 a barrel over regional benchmark Oman/ Dubai crude, up from $1.30 for April cargoes, and the first increase in three months.
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*U.S. crude for May delivery rose 6 cents to $94.51 per barrel at 0104 GMT, after dropping by 2.8 percent on Wednesday, its steepest daily decline since Nov. 20. *The shutdown of Exxon Mobil's pipeline which moves crude oil from Illinois to the refinery-rich Texas Gulf Coast may curb efforts to relieve the glut of crude oil in the U.S.
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Crude oil prices fell after an increase in new U.S. claims for unemployment benefits reinforced concerns about sputtering economic growth in the world's top oil consumer.
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NEW YORK, April 3- Oil prices fell 3 percent on Wednesday in the steepest daily drop in five months, as U.S. crude inventories rose to their highest since 1990 and as weak economic data weighed on the outlook for demand. Brent crude oil for May delivery settled down $3.58 at $107.11 a barrel, the biggest one day percentage fall since Nov. 3.
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*Copper at 8- month low, gold at 9- month bottom. NEW YORK, April 3- The commodities selloff that began at the outset of the second quarter deepened on Wednesday as weak U.S. jobs and services data dented recovery hopes in the world's No. 1 economy, sending oil, metals and crop prices tumbling with stocks. Copper lost about 1 percent, after touching an eight-month low.
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The rally in risk markets has left oil in the dust, a function of how growing U.S. energy supplies and fears about global demand are throwing cold water on crude prices.
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Brent crude oil for May delivery settled down $3.58 at $107.11 a barrel, the biggest one day percentage fall since Nov. 3. U.S. crude settled down $2.74 at $94.45 a barrel, having fallen as low as $94.18.
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*Gold down more than 1 pct in commodities selloff. NEW YORK, April 3- Gold tumbled to a nine-month low on Wednesday, losing more than 1 percent as plummeting crude oil prices and sharp losses in U.S. equities triggered a sell-off in assets across the board.
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U.S. oil prices posted the biggest one-day slide of the year in the midst of a broad commodities sell off. Natural gas prices also declined ahead of data on U.S. storage levels, due out tomorrow. CNBC's Sharon Epperson on what traders will be watching in the coming session.
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In the options market, big money can be made pretty quickly. For one trader, it only took a day. Here's how he did it.
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"The report is somewhat bearish given the build in crude oil inventories and modest decline in gasoline inventories, which are the focus of the market," said John Kilduff, partner at Again Capital LLC in New York.
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NEW YORK, April 3- Major stock markets and the dollar fell on Wednesday after unexpectedly weak growth in U.S. private-sector jobs and services dented optimism about the world's largest economy. Crude prices slumped more than 2 percent as oil stockpiles swelled in the United States, the top oil consumer, where a struggling economy is limiting demand for fuel.
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Neil Atkinson, director, energy research and analysis at Datamonitor, tells CNBC that thanks to a "patchy" economic picture and struggling demand, oil prices are much more likely to fall than rise.
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LONDON, April 3- Oil slid towards $109 a barrel on Wednesday as stockpiles swelled in top consumer the United States, where a struggling economy is limiting demand for fuel. Brent shed $1.40 to trade at $109.29 by 1449 GMT, while U.S crude slid 89 cents to $96.30.
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LONDON, April 3- Oil dropped below $110 a barrel on Wednesday as oil stockpiles swelled in top oil consumer the United States, where a struggling economy is limiting demand for fuel. Brent lost 87 cents to $109.82 a barrel by 1047 GMT, while U.S crude slid 49 cents to $96.70.
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Jonathan Eley, personal finance editor at the Financial Times, tells CNBC that long-term investors should be wary of mining stocks due to recent underperformance and the pressure for companies to cut capital expenditures.
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SINGAPORE, April 3- Brent crude slipped toward $110 a barrel on Wednesday, dropping for a second straight day, as swelling oil inventories in the United States and recent weak data fuelled worries about demand from the world's top consumer.