Andrew Su, CEO at Compass Global Markets, outlines his expectations for the upcoming OPEC meeting and explains how that will move oil prices.» Read More
TOKYO, Oct 30- U.S. crude futures edged below $82 a barrel on Thursday in early Asian trade, pressured by a strong dollar and a supply glut, following overnight gains on the back of a less-than-expected rise in U.S. oil stockpiles. *NYMEX crude for December delivery was down 32 cents at $81.88 a barrel by 0004 GMT, after settling up 78 cents at $82.20 on Wednesday.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Gold was lower before the Fed meeting. A hawkish tone by the Fed didn't help. Oil was up slightly on the day on some technical buying and short covering. OPEC says don't panic.
*Current low oil prices do not reflect fundamentals, OPEC says. Benchmark Brent crude oil for December settled up $1.09 at $87.12 a barrel, after touching an intraday high of $87.94. "I think the numbers are supportive, and suggest there's no big surplus of oil forming in any place," said Dominick Chirichella, senior partner at the Energy Management Institute in New...
U.S., BRENT CRUDE FUTURES PARE GAINS AFTER FEDERAL RESERVE ANNOUNCES MONTHLY BOND PURCHASE PROGRAM.
*OPEC says fundamentals do not reflect low oil prices. Benchmark Brent crude oil for December was up $1.73 at $87.76 a barrel at 11:41 a.m. after touching an intraday high of $87.94. Crude inventories in the United States rose by 2.1 million barrels in the last week, compared with analysts' expectations for an increase of 3.4 million barrels, data from the...
CNBC's Jackie DeAngelis reports the latest crude oil inventories had a build of 2.06 million barrels, while distillate inventories decline 5.29 million barrels.
*PetroChina posts drop in third-quarter net profit. *CNOOC's third-quarter revenue falls, production flat. HONG KONG, Oct 29- Chinese state-run oil giants PetroChina and CNOOC Ltd posted weaker third-quarter results on Wednesday, hit by a slump in crude prices as a result of ample supplies and weakening demand.
CNBC's David Faber and Jim Cramer discuss the outlook for Anadarko Petroleum and potential for an acquisition, and the energy complex.
Europe could be plunged into an energy crisis this winter if last-ditch talks on Wednesday fail to see Russia resume gas flows to Ukraine.
Tom Fanning, Southern Company chairman & CEO, breaks down the company's quarterly results and discusses how cheap oil is impacting the alternative energy sector.
*OPEC sec gen says fundamentals do not reflect low oil price. LONDON, Oct 29- Brent crude oil rose to $87 a barrel on Wednesday as traders anticipated that the Federal Reserve would keep U.S. interest rates low, putting pressure on the dollar. Brent crude for December was up 95 cents at $86.98 a barrel by 1125 GMT, after touching a high above $87.
Jason Seidl, Cowen & Company, provides perspective on what's driving transports higher as oil prices slide lower.
Carl Larry, Oil Outlooks and Opinions, shares his outlook on oil as crude prices hover around $80 and the U.S. become increasingly oil independent.
LONDON, Oct 29- Brent crude oil extended gains above $86 a barrel on Wednesday as traders anticipated the end of quantitative easing in the United Stated would squeeze the dollar. "We're likely to see a slightly weaker dollar today, if the Fed is as dovish as expected, and that will support oil prices in the short term," said Michael Hewson, chief analyst at CMC Markets...
Total warned that sliding oil prices had hit its third-quarter results and could weigh for the rest of 2014.
TOKYO, Oct 29- Brent oil prices extended gains above $86 a barrel on Wednesday, supported by short-covering and drawdowns in U.S. product stockpiles, as investors waited for news later in the day from a U.S. Brent crude for December delivery was up 46 cents at $86.49 a barrel by 0609 GMT, after settling up 20 cents on Tuesday. NYMEX crude for December delivery was up 30...
JAKARTA, Oct 29- Rising risks of deflation in major economies have renewed worries about global growth, but sliding prices for oil and other commodities should boost most of Southeast Asia. Since June, the price of a barrel of Brent crude has dropped by 25 percent to $86, which means big savings for Southeast Asia's large oil-importing economies- Thailand,...
Brent crude for December delivery was up 24 cents at $86.27 a barrel by 0253 GMT, after settling up 20 cents. NYMEX crude for December delivery was up 28 cents at $81.70 a barrel, after settling up 42 cents at $81.42 on Tuesday as the dollar fell and U.S. equities rose. "Today's focus is on the EIA and FOMC, but both are unlikely to prompt a move in oil prices of $1 or $2," said...
Brent crude dipped below $87 a barrel on Wednesday after the Federal Reserve announced the end of its bond-buying program.
TOKYO, Oct 29- U.S. crude futures stood little changed above $81 a barrel on Wednesday after industry data showed a rise in U.S. crude inventories that was in line with expectations. *NYMEX crude for December delivery was up 7 cents at $81.49 a barrel by 0000 GMT, after settling up 42 cents at $81.42 on Tuesday on the back of a weak dollar and firm U.S. equities.