CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Crude and gas inventories were down today despite record US production.» Read More
Tim Evans, energy futures specialist at Citi Futures and OTC Clearing, says factors like appetite for risk and desire to rebuild portfolios are fueling long positions in the oil markets.
Oil settled at $50.42 a barrel after government data showed the largest weekly increase in US crude inventories since 2001.
SINGAPORE, April 8- U.S. crude futures fell over a dollar in early Asian trading on Wednesday after Saudi Arabia revved up crude production to its highest level on record in March. Oil Minister Ali al-Naimi told reporters late on Tuesday that the Kingdom produced some 10.3 million barrels per day of crude in March, a figure that would eclipse its previous recent...
Do not trust the rally in oil, says Tom Kloza, Oil Price Information Service co-founder. He thinks oil will retest the lows.
Royal Dutch Shell has confirmed it is in advanced talks to buy UK utility BG Group, in a £47 billion cash-and-shares offer.
CNBC's Dominic Chu reports on a big build in weekly crude oil inventories according to the API. The "Fast Money" traders, discuss.
U.S., BRENT CRUDE FUTURES PARE GAINS ON BIGGER THAN EXPECTED CRUDE STOCKS BUILD IN API DATA.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil was up on the day as Saudi airstrikes reportedly hit civilians, and an EIA report said demand for oil was picking up.
RIYADH, April 7- Saudi Arabia's oil minister Ali al-Naimi said on Tuesday that the kingdom stood ready to "improve" prices but only if other producers outside of OPEC joined the effort. "The kingdom is still ready to help bring back stability to the market and improve prices in a reasonable and suitable manner, but with the participation of the main producing and...
AND BRENT CRUDE FUTURES EXTEND GAINS IN PRE-SETTLEMENT TRADE.
CNBC's Jackie DeAngelis outlines a significant price hike in the oil pits.
NEW YORK, April 7- World oil prices could be $5 to $15 a barrel lower than forecast next year if oil-related sanctions against Iran are lifted, the U.S. government's energy agency said on Tuesday. "A lifting of sanctions against Iran should a comprehensive nuclear agreement be concluded could significantly change the forecast for oil supply, demand, and prices," EIA...
"That JOLTS report was certainly quite strong and strong employment equals strong gasoline demand," said John Kilduff, partner at Again Capital LLC in New York. May crude was up $1.11 at $53.25 a barrel at 12:10 p.m. EDT, having traded from $51.17 to $53.46. Brent May crude was up 48 cents at $58.60, having swung from $57.02 to $59.09.
Christian Zann, Balyasny Asset Management partner and portfolio manager, discusses the trajectory for oil.
EIA SAYS IF AND WHEN IRAN SANCTIONS ARE LIFTED, BASELINE FORECAST FOR WORLD CRUDE OIL PRICES IN 2016 COULD BE REDUCED $5- $15/ BBL.
Americans are finally aware they have more money in their pockets from cheaper gasoline prices, and they are putting it to use at a faster pace,.
Crude futures rallied after slumping initially on Tuesday on Iran's efforts to sell more oil to China and a Goldman Sachs report saying prices needed to remain low to slow U.S. oil production. May crude was up 29 cents at $52.43 a barrel at 10:37 a.m. EDT, up after falling to $51.17. Brent May crude was up 3 cents at $58.15, having dropped earlier to $57.02.
Fred Smith, FedEx chairman and CEO, discusses terms of the $4.8 billion dollar deal to acquire TNT Express, and working with European authorities to get the process approved. Also Smith weighs in on the benefits of lower energy on the world economy.
USO, the big gorilla in the oil market, is set to jump into the futures market this week, rolling a huge share of the outstanding U.S. oil futures contracts from May into June.