CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Crude closed down on the day, in part because the Iranian foreign minister talked about a possible nuclear deal.» Read More
A recovery in the price of oil might not be "imminent" but there are tentative signs that the tide is turning, the International Energy Agency said.
SINGAPORE, Jan 16- Brent crude oil futures edged higher on Friday, holding above $48 a barrel as analysts said prices were well supported around current levels, although few expect a strong rebound anytime soon as global output continues to outweigh demand. Benchmark Brent crude futures were trading at $48.38 per barrel at 0802 GMT, up 11 cents since their last...
SINGAPORE, Jan 16- Brent futures edged higher on Friday, holding above $48 a barrel on positive technical price momentum, although few analysts expect a strong rebound anytime soon as global output continues to outweigh demand. "Therefore, we expect crude prices to trade range bound between $44.75- $50.69 for WTI Mar'15 and $46.4- 52.89 for Brent Mar' 15.".
"Brent oil may break a resistance at $48.80 per barrel and rise more to $49.53, as indicated by its wave pattern and a Fibonacci projection analysis," said Wang Tao, Reuters market analyst for commodities and energy technicals. "Support is at $47.51, the 61.8 percent Fibonacci retracement on the rise from $45.59 to $50.62, a break below which will lead to a further...
Victor Shum, VP at IHS Energy Insight, expects a halt in the growth of U.S. shale oil production later this year, as U.S. crude prices below $50 a barrel render most production uneconomic.
A lack of wage growth in the U.S. and a disinflationary environment make it difficult for the Fed to raise rates this year, says Mike Moran, Head of Macro Research for the Americas, Standard Chartered Bank.
Brent spiked above $50 on Wednesday, before paring gains on a strengthening dollar and global economic woes.
SINGAPORE, Jan 16- U.S. crude futures hovered above $46 a barrel on Friday after sliding almost 5 percent in the session before amid a shaky demand outlook, putting oil prices on course for an eighth straight week of losses. *U.S. crude for February delivery was little changed at $46.34 a barrel by 0005 GMT. *Brent oil for February, which expired on Thursday, lost $1.02 in...
Jan 15- Schlumberger Ltd, the world's No.1 oilfield services provider, said it will cut 9,000 jobs, or about 7 percent of its workforce, as it focuses on controlling costs amid plummeting oil prices. Schlumberger had said last month that it would take a $1 billion charge related to jobs cuts and the writedown of some seismic vessels. Schlumberger's customers- oil...
A lack of a pick-up in economic activities show that the slide in oil is also about weaker global growth, says Fred Neumann, Co-Head of Asian Economics Research of HSBC.
Conrad Saldanha, Portfolio Manager, Emerging Markets Equities at Neuberger Berman, says softer commodities will be a tailwind for consumer-led emerging economies, with India standing to gain the most.
Schlumberger Ltd, the world's No.1 oilfield services provider, said it will cut 9,000 jobs, or about 7 percent of its workforce.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. After oil went up to $51, it came down nearly 10 percent to around $46.
Discussing why the sudden surge in tanker popularity, with Anthony Gurnee, Ardmore Shipping.
Jim Paulsen, investment strategist at Wells Capital Management, told CNBC that volatility could actually help re-evaluate the market.
Expect more shareholder activists to get involved in Canadian oil and gas companies, Maglan Capital's David Tawil told CNBC.
North Dakota Gov. Jack Dalrymple said oil's drop has led to the state's lowest rig count in five years.
CNBC's Brian Sullivan speaks to Brad Lamb of Brad J. Lamb Realty Inc. about the impact to Canadian real estate from the drop in oil prices.
Oil closed at the lows for the day. David Tawil, Maglan Capital president, discusses the action in the price of oil, and activism in Canada.
Noah Blackstein, Dynamic Funds, discusses the impact of low oil on Canada's economy, and opportunities for investors to buy into Canadian energy companies.