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Oil was range bound as the market balanced a draw down in domestic stockpiles against technical sell points that put a lid on oil prices.
SINGAPORE, May 9- U.S. crude futures held above $100 a barrel on Friday and were set to end a two-week slide, backed by a drop in U.S. oil stockpiles and renewed tensions in Ukraine. *U.S. crude for June delivery was up 21 cents at $100.47 a barrel by 0139 GMT.
The White House is examining the US ban on exports of crude oil, offering the most detailed statement yet of its thinking on the issue.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Ukraine keeps oil up, and a bearish DOE report drove down nat gas. Gold was up slightly at $1287.70.
*Pro-Russian rebels in Ukraine to go ahead with referendum. NEW YORK, May 8- U.S. crude oil prices fell on Thursday after hitting resistance at a key technical level, and Brent also fell as traders awaited developments in Ukraine.
*Pro-Russian rebels in Ukraine say to go ahead with referendum. NEW YORK, May 8- U.S. crude oil prices fell on Thursday after a rally driven by a drop in commercial crude stocks topped out at a key technical level, while Brent fell as the market awaited developments in the Ukraine conflict.
CNBC's Jackie DeAngelis reports natural gas inventories rise 74 billion cubic feet.
A mismatch between workers seeking jobs and the skills employers need may be trickling into the booming energy sector.
*Ukraine crisis eyed as tensions continue. London, May 8- Brent oil fell below $108 a barrel on Thursday as tensions in Ukraine appeared to show signs of easing but the crisis in Libya and a jump in Chinese crude imports to a record high underpinned prices.
Mark Lewis, senior analyst of sustainability research at Kepler Cheuvreux, says a rise in the oil price would give and incentive for policy makers to increase push sustainable energy.
U.S. crude fell after a rally topped out, while Brent fell as the market awaited developments in the Ukraine conflict.
SINGAPORE, May 8- U.S. crude held just below $101 a barrel in early Asian trading on Thursday, holding onto most of the gains made in the previous session when oil prices rose by more than $1 on both sides of the Atlantic after an unexpected drop in U.S. inventories.
With money running out to fix America's roads and bridges, former Pennsylvania Governor Ed Rendell believes a gas tax hike is needed, and fast.
As the World Economic Forum kicks off in Nigeria, the nation reels from the mass abduction of hundreds of young girls.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Crude ended the day up, again because of the situation in Ukraine and a drawdown in supplies. Gold was down today on positive comments from Putin.
NEW YORK, May 7- Global oil prices rose by more than $1 a barrel on both sides of the Atlantic on Wednesday as an unexpected drop in United States inventories supported U.S. crude and escalating tensions in Libya pushed Brent higher.
U.S. companies moving crude via rail must tell states when a cargo is moving across their jurisdiction, the Transportation Secretary said.
The federal gas tax hasn't gone up in 20 years. CNBC contributor Ed Rendell and Cato Institute senior fellow Dan Mitchell, debate whether it's time.
*Cushing stocks down 1.4 million barrels- EIA. NEW YORK, May 7- U.S. crude oil prices rose by more than $1 a barrel on Wednesday after a government report showed an unexpected sharp drop in inventories in the United States. U.S. crude rose $1.18 to $100.68 a barrel by 12:57 p.m. EDT, with its discount to Brent narrowing about 40 cents to $7.11 a barrel.
LONDON, May 7- U.S. crude oil prices jumped by more than 1 percent on Wednesday after a government report showed a sharp drop in inventories in the United States. Brent crude was pressured after Russia called for separatists in the east of Ukraine to postpone an independence referedum.