Brent nudged lower but held above $107, with a global oil glut keeping prices in check despite geopolitical tensions threatening supplies.» Read More
Crude rose as fighting between Ukraine's army and a pro-Russian group intensified, stoking fears of regional energy supply disruptions.
TOKYO, May 2- U.S. crude oil dipped closer to testing $99 in early trade on Friday, pressured by a jump in inventories, with the benchmark contract facing a weekly decline of more than 1 percent. *U.S. crude for June delivery fell 15 cents to $99.27 a barrel by 0010 GMT, dropping for the third session in a row and putting it on course for a weekly fall of 1.3 percent.
*Libya to resume oil exports from Zueitina port this week. NEW YORK, May 1- U.S. oil futures edged lower on Thursday as inventories soared to record highs and traders awaited Friday's U.S. jobs numbers, while Brent oil was pressured by muted Chinese economic data and expectations for a rebound in Libyan oil exports.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.
John Hofmeister, former Shell Oil president, says Russian President Vladimir Putin has spent years developing energy companies' trust in Russia and wouldn't want to break that. Chris Faulkner, Breitling Oil CEO, discusses the impact to oil price in the U.S.
CNBC's Jackie DeAngelis reports on what Russian President Vladimir Putin told reporters in response to U.S. sanctions.
Conflict with Russia has not stopped U.S. and European energy giants from exploring investments in Ukraine's fledgling energy sector.
CRUDE OIL FUTURES REVERSE LOSSES, RISE 2 CENTS AT $99.76 PER BARREL IN LATE MORNING TRADE.
The Department of Energy released its weekly storage report on natural gas inventories. CNBC's Jackie DeAngelis has the details.
Tom Kloza, GasBuddy chief oil analyst, provides his outlook on gas prices this summer.
Exxon Mobil reported first-quarter earnings on Thursday that beat Wall Street's expectations.
Daniel Lacalle, senior portfolio manager at Ecofin Ltd, says the light at the end of the tunnel is in sight for energy stocks but that more needs to be done to get earnings going up and selects his top picks.
SINGAPORE, May 1- Brent crude eased down towards $108 a barrel on Thursday, not far above its lowest in more than two weeks, as lacklustre China data, a potential rise in Libya's oil supply and record-high inventories in the United States weighed on prices.
SINGAPORE, May 1- Brent crude inched down towards $108 a barrel on Thursday, not far above its lowest in more than two weeks, as lacklustre China data, a potential rise in Libya's oil supply and record-high inventories in the United States weighed on prices.
SINGAPORE, May 1- U.S. crude held below $100 a barrel on Thursday, after slipping more than $1 in the previous session to hit a one-month low as crude inventories in the United States rose to a new all-time high last week.
*Events in Ukraine, Libya and Iran closely watched. NEW YORK/ LONDON, April 30- Brent crude oil futures finished just above $108 per barrel on Wednesday after trading below that most of the day as crude oil inventories in the United States rose to a record high and traders anticipated increased exports from Libya.
CNBC's Bertha Coombs discusses the day's activity in the commodities markets. Tensions in Ukraine seem to be abating and the focus has turned to domestic data. Crude dropped under $100 on a build in supplies.
Oil falls toward $108 on supply build, Libya prospects. Wall Street initially slid after the Commerce Department said U.S. gross domestic product expanded at a 0.1 percent annual rate in the first quarter, the slowest pace since the fourth quarter of 2012..
U.S AND BRENT CRUDE OIL FUTURES HOLD LOSSES AFTER U.S.
Oil falls below $108 on supply build, Libya prospects. Wall Street initially slid after the U.S. Commerce Department said gross domestic product expanded at a 0.1 percent annual rate in the first quarter, the slowest pace since the fourth quarter of 2012..