CNBC's Mandy Drury looks ahead to what are likely to be next week's top business and financial stories. Berkshire earnings, and a mobile extravaganza. And the Affordable Care Act comes before the Supreme Court, again.» Read More
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil ended the day under $50. Traders are expecting a build in tomorrow's inventory report.
NEW YORK, Feb 24- Brent and U.S. crude futures turned lower on Tuesday as expectations that this week's reports on U.S. crude inventories would show another build countered supportive news of Libyan oilfields being shut by a power cut, traders said. Brent April crude was down 25 cents at $58.65 a barrel at 2:23 p.m. EST, after trading as high as $60.30.
CALGARY, Alberta, Feb 24- Cash flows from the Canadian oil sands will fall by $23 billion and turn negative in the next two years, energy consultancy Wood Mackenzie said in a report on Tuesday, as low crude prices make it less economical to extract tar-like bitumen from the sands. The oil sands of northern Alberta hold the world's third-largest proven crude...
Oil prices have started to stabilize and demand is improving, a senior Gulf OPEC delegate said on Tuesday.
CRUDE FUTURES TURN LOWER ON EXPECTATIONS U.S.
Private equity companies are looking in to oil, according to execs at Berlin PE meeting.
NEW YORK, Feb 24- Crude oil futures rose on Tuesday on news that production had stopped at Libya's largest oilfield. The Sarir and the nearby Messla oilfields in Libya were shut because of a power cut, dealing another blow to exports from the embattled OPEC member nation. Brent April crude was up 52 cents at $59.42 a barrel at 12:24 p.m. EST.
The SEC said that Goodyear failed to prevent or detect more than $3.2 million in bribes in Kenya and Angola.
There are a number of injuries reported in California after train cars derailed and a truck became fully engulfed in flames.
LONDON, Feb 24- Brent crude oil rose more than $1 to around $60 a barrel on Tuesday after Libya's largest oilfield stopped production. The Sarir oilfield in Libya shut because of a power cut, in a further blow to exports from the OPEC member. Brent for April was up $1.10 at $60.00 a barrel by 1435 GMT, recovering from an earlier low of $58.10.
AND BRENT CRUDE OIL FUTURES JUMP HIGHER, U.S.
LONDON, Feb 24- Brent crude oil reversed early losses to trade back above $59 a barrel on Tuesday as Libya's largest oilfield stopped production, and as traders awaited U.S. oil inventory data to see whether it would show another large increase. The Sarir oilfield in Libya shut because of a power cut, in a further blow to exports from the OPEC member.
The West has failed to come up with a clear strategy to deal with ISIS, argues Ron Wahid, CEO of Arcanum Global Intelligence.
Any hopes of a sustained rally in the price of oil disappeared Tuesday as doubts were raised over an anticipated cut in production.
A Reuters survey forecast figures from the American Petroleum Institute on Tuesday, and the U.S. Department of Energy's Energy Information Administration, due to be published on Wednesday, would show U.S. crude stocks increased by 4 million barrels to a record high last week. Brent futures for April were down 50 cents at $58.40 a barrel by 0910 GMT, while U.S. crude...
*Nigeria plans OPEC emergency meet if prices fall further- FT. SINGAPORE, Feb 24- Brent fell towards $58 a barrel on Tuesday, extending the 2- percent loss in the previous session, as oversupply fears lingered, overshadowing any optimism on the outlook for the global economy. Brent fell 41 cents to $58.49 a barrel by 0640 GMT, while U.S. crude was down 51 cents at $48.94.
Peter Botten, managing director of Oil Search, attributes the robust 72 percent jump in annual net profit to new LNG production and exportation from its PNG LNG project.
Crude oil futures rose on Tuesday on news that production had stopped at Libya's largest oilfield.
SINGAPORE, Feb 24- U.S. crude held steady in early Asian trade on Tuesday after dropping below $50 a barrel the session before, while heating oil futures had jumped 5 percent in the United States due to operational problems at major refineries there. *U.S. crude for April delivery was trading 3 cents higher at $49.48 a barrel at 0018 GMT. *Royal Dutch Shell Plc is...
Consumers are paying more at the pump these days, but there is some good news, Andy Lipow said.