As concerns about the glut of oil in the world continues to weigh, some have questioned why prices haven't fallen even further.» Read More
A Citi note thinks West Texas crude could go as low as $20 per barrel. Discussing where oil is headed, with Chris Faulkner, Breitling Energy CEO.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. OPEC says lower prices will hurt US producers, forcing countries to buy Middle Eastern oil. And Citi says oil could fall to $20.
Massive opportunities still exist in China despite slowing growth there, says Michael Yoshikami.
CNBC's Jackie DeAngelis tracks today's oil action into the close.
Oil prices have rebounded recently, but Barclays' Michael Cohen doesn't think the rally will last.
Labor standoffs at refineries and West Coast ports are not relenting. Is this a sign of a strengthened economy or will it hurt it instead?
*OPEC sees increased demand for its oil in 2015. *Cartel also slashes forecast for non- OPEC supply. NEW YORK, Feb 9- Oil rose for a third straight session on Monday as OPEC forecast greater demand for crude this year than previously thought and projected less supply as well from countries outside the group.
*OPEC sees increased demand for its oil in 2015. LONDON, Feb 9- Brent crude prices rose above $58 a barrel on Monday after OPEC forecast demand for its oil would be greater than expected in 2015 and the number of U.S. oil rigs hit a three-year low. In a monthly report issued on Monday, OPEC also slashed its forecast for the rate of growth in non- OPEC supply, citing a slowdown...
The average price of a gallon of gasoline in the United States rose 13 cents in the past two weeks, following a nine-month price slide.
OPEC said oil demand growth was "yet to show any signs of accelerating," while still hiking its demand forecast for 2015.
*China imports fall 19.9 pct in January as growth slows. LONDON, Feb 9- Brent crude prices steadied near $58 a barrel on Monday as falling U.S. oil rig counts and signs of healthy U.S. growth offset concerns over the strength of the Chinese economy. Global benchmark Brent crude oil for March was up 10 cents at $57.90 a barrel by 1118 GMT after rising as high as $59.06...
*China imports fall 19.9 pct in January as growth slows. *China oil imports also slow despite stockpiling. Global benchmark Brent crude oil for March was down 10 cents at $57.70 a barrel by 0748 GMT after rising as high as $59.06 earlier in the session.
Warren Gilman, chairman & CEO of CEF Holdings, expects oil prices to resume declines soon as supply isn't showing any signs of fading amid tepid demand.
Mohshin Aziz, aviation analyst at Maybank Investment Bank, says the below-view third-quarter results and cautious statement from the management suggest that the outlook for the carrier remains challenging.
Somshankar Sinha, director, Asia ex-Japan Oil & Gas Research at Barclays, expects oil prices to move lower before averaging at mid-40s, given that the market is still seeing an oversupply.
SINGAPORE, Feb 9- Oil prices steadied on Monday as falling U.S. oil rig counts and conflict in producer Libya were balanced by a slump in Chinese imports, pointing to lower fuel demand in the world biggest energy consumer. Global benchmark Brent crude oil for March was up 30 cents at $58.10 a barrel by 0140 GMT after rising as high as $59.06 earlier in the session.
Oil rose for a third straight session on Monday as OPEC forecast greater demand for crude this year than previously thought.
SINGAPORE, Feb 9- Oil prices jumped on Monday as falling U.S. oil rig counts and conflict in producer Libya helped stretch a rally from last week when crude surged the most since 2011.. Brent crude for March delivery was up 1.3 percent at $58.57 a barrel by 0003 GMT after rising as high as $59.06 earlier in the session. U.S. crude was up 2 percent at $52.74 a barrel, after...
Barry Dawes, head of Resources at Paradigm Securities, says a bottoming process is taking place in global oil markets and prices will likely head higher soon.
*London the venue for annual oil industry gatherings. LONDON, Feb 8- The oil price crash has meant slashed budgets, staff layoffs and mothballed projects for big producers, but oil traders will celebrate their best market for years this week. As hundreds of dealers flock to London for the annual International Petroleum Week, cocktail circuit talk will be of the...