Oil plunged thanks to developments in Greece, China's stock market woes and the potential for more supply from Iran, but the worst may be over, according to an industry expert.» Read More
*Reflation putting end to deflation scare. SYDNEY/ LONDON, May 6- A rapid revival of commodity prices and a sudden sell-off in top-rated, low-yielding bonds have signalled the passing of this year's global deflation scare, forcing a rethink of both the consumer price outlook and investments worldwide. "There has been a profound easing in financial conditions...
May 6- Husky Energy Inc, Canada's No.3 integrated oil company, reported a 71 percent drop in quarterly profit, hurt by weak oil and gas prices. Cash flow from operations, an indicator of the company's ability to pay for new projects, declined more than 45 percent to C $838 million, or 85 Canadian cents per share, in the first quarter ended March 31, Husky Energy said on...
Market participants are questioning whether a recent climb in oil prices has caused a spike in bond yields.
May 6- Enbridge Inc, Canada's largest pipeline company, reported a lower-than-expected adjusted quarterly profit, hurt by hedging losses due to a steep drop in oil and gas prices. Excluding one-time items, Enbridge's profit fell to C $468 million, or 56 Canadian cents per share, in the first quarter ended March 31 from C $492 million, or 60 Canadian cents per share, a...
Oil prices are at their highest level of the year.
LONDON, May 6- Oil prices rose more than a dollar to 2015 highs on Wednesday, as a month-long rally gained further impetus from a fall in U.S. crude stocks and conflict in the Middle East. Brent crude jumped by $1.36 to $68.88 a barrel by 0855 GMT, after hitting a 2015 peak of $69.14. "We haven't seen hedge funds and money managers to be as optimistic and bullish as they are...
Lundin Petroleum CEO, Ashley Heppenstall, says he believes the oil price will recover.
*OPEC set to keep production unchanged at June 5 meeting. *Saudi Arabia keeps prices unchanged for Asian buyers. SINGAPORE, May 6- Oil prices rose more than $1 to fresh 2015 highs on Wednesday, continuing a month-long rally that has been supported by a weaker dollar and a disruption to crude exports from Libya.
BRENT CRUDE OIL FUTURES CLIMB $1 TO $68.52 A BARREL, A 2015 HIGH.
CRUDE OIL CLIMBS MORE THAN $1 TO $61.45 A BARREL; HITS FRESH 2015 HIGH.
*OPEC set to keep production unchanged at June 5 meeting. Oil bulls have pushed prices higher this week, after a rally of between 20 percent and 25 percent in April, despite a continued build in U.S. crude stockpiles and indications that the OPEC cartel will keep production at current high levels at a meeting next month. The bank raised its average 2015 Brent...
The first U.S. crude stockpile drop since January sent oil prices to 2015 highs on Wednesday before traders took profits on a multi-week rally.
SINGAPORE, May 6- Oil prices edged up on Wednesday towards 2015 highs reached in the previous session, supported by a weaker dollar and a disruption to crude exports in Libya. *U.S. crude for June delivery traded 43 cents higher at $60.83 a barrel by 0033 GMT. *Brent crude for June delivery was 24 cents higher at $67.76 a barrel, below its 2015 peak of $68.40 reached on...
Dennis Gartman of The Gartman Letter, explains the term structure in futures does not predict where oil prices will go.
CNBC's Kate Rogers has the details on Pioneer Natural Resources' earnings.
ADP employment, labor cost and oil inventory data to be reported this Wednesday, CNBC's Patti Domm discusses what to expect.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Crude crossed and closed over $60 today.
Gas prices will start to fall in the coming weeks as issues at some U.S. refineries are resolved, an industry expert said.
Patrick Dehaan, Gasbuddy.com analyst, shares his forecast for gas prices as crude oil prices rise.
Helima Croft, RBC Capital Markets, discusses conditions in the Middle East, and the price of oil.