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  • UPDATE 4-Oil prices slip on dollar rally, ample supply Tuesday, 19 May 2015 | 4:42 AM ET

    LONDON, May 19- Brent crude oil fell below $66 a barrel on Tuesday as the dollar strengthened and on evidence of ample supplies of Middle Eastern oil despite wars in northern Iraq, Syria and Yemen. "The oil market is generally oversupplied with high Saudi exports and OPEC is unlikely to cut production," said Tamas Varga, oil analyst at London brokerage PVM Oil...

  • DCC profitability not hit by oil: CEO   Tuesday, 19 May 2015 | 3:15 AM ET
    DCC profitability not hit by oil: CEO

    Tommy Breen, CEO of DCC, tells CNBC that the price of oil hasn't had an impact on the business.

  • *ConocoPhillips CEO says more mega-mergers unlikely. Still, there is unlikely to be a wave of mega mergers like Royal Dutch Shell's buyout of BG Group for $70 billion, which Shell itself has said left it cash-strapped and only able to pursue much smaller deals. "There is less need for mega mergers because of unconventional resources which require a small amount of...

  • *Goldman Sachs says ongoing oversupply to pull down prices. *Asian economies failed to fully benefit from cheap oil- HSBC. Goldman Sachs said Brent crude prices were due for a downward correction after a recent rally that saw prices of the North Sea benchmark jump 50 percent since its mid-January lows.

  • *Goldman Sachs says ongoing oversupply to pull down prices. *Asian economies failed to fully benefit from cheap oil- HSBC. Goldman Sachs said a recent rally that saw Brent prices jump over 40 percent since January was due a downward correction.

  • *Asian economies failed to fully benefit from cheap oil- HSBC. SINGAPORE, May 19- Brent oil prices dropped on Tuesday on signs of weakness at the world's top energy consumer China, while U.S. crude futures edged up on rising demand ahead of the summer driving season. Brent futures were down 9 cents at $66.18 a barrel by 0413 GMT, after an almost 1 percent fall on Monday on...

  • Brent crude oil prices dip on weak Asian economies Monday, 18 May 2015 | 9:52 PM ET

    *Asian economies failed to fully benefit from cheap oil- HSBC. SINGAPORE, May 19- Brent crude oil prices dipped on Tuesday as Asia's economies showed more signs of weakness, while U.S. prices edged up on the back of U.S. peak demand summer driving season. Instead, the first quarter probably represented a new low in the region's growth since the global financial crisis, "...

  • US crude settles down 3.65%, at $57.26 a barrel Tuesday, 19 May 2015 | 2:30 PM ET
    Pump jacks in an oil field over the Monterey Shale formation near Lost Hills, Calif.

    Crude settled down 3.65 percent at $57.26 a barrel as high supplies meant that markets remain oversupplied.

  • Smog over Beijing, China.

    Governments globally charge prices for energy that do not account for its harmful side effects, amounting to a $5.3 trillion subsidy, the IMF said.

  • *Front month U.S. crude was up 8 cents at $59.51 a barrel at 0018 GMT, after finishing down 26 cents in the previous session. *Global crude oil prices are not expected to fall in the second half of 2015, Kuwait's OPEC governor said on Monday, and any surplus supply was due to shale producers rather than OPEC. *Crude output by OPEC member Algeria will rise by at least 32,000...

  • Commodities tomorrow: Dollar strong, crude down

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Crude was down on a stronger dollar.

  • *Kuwait acknowledges oversupply, but blames non- OPEC sources. NEW YORK, May 18- Oil slipped on Monday as a rallying dollar and concerns of growing oversupply weighed on the market after Saudi Arabia reported its highest crude exports in nearly a decade. Crude oil futures erased early gains of more than $1 a barrel on worries of turmoil in the Middle East after a...

  • *Baghdad delays oil contract negotiations as prices rally. DUBAI, May 18- BP has cut its development budget for Iraq's giant Rumaila oilfield by $1 billion this year after the government warned a slump in crude prices and its battle against Islamic State was making it difficult to pay oil companies. The British oil major has agreed with Baghdad to reduce its 2015...

  • *Kuwait acknowledges oversupply, but blames non- OPEC sources. NEW YORK, May 18- Oil slipped on Monday as a rallying dollar weighed on the commodities complex amid a bearish price outlook by influential Wall Street firm Goldman Sachs and risks of growing oversupply. Crude oil prices erased early gains of more than $1 a barrel on worries of turmoil in the Middle East...

  • Here's why Democrats are big spenders: Survey Monday, 18 May 2015 | 11:16 AM ET
    gas prices

    Democrats are twice as likely as Republicans to spend their gas savings on nonessential items, according to a new survey from Bankrate.

  • Is Shell’s ‘problem child’ business growing up? Monday, 18 May 2015 | 11:59 AM ET

    Activists in kayaks have protested against plans by Shell to resume oil exploration in the U.S. Arctic. For analysts, the news means Shell's "problem child" is getting some attention.

  • *Goldman Sachs slashes 2016-2020 price outlook. LONDON, May 18- Brent crude oil prices declined on Monday after Goldman Sachs slashed its forecasts on a persistently high supply outlook, offsetting fears over deepening violence in the Middle East. Analysts nevertheless said oil markets remained oversupplied, and that the glut could worsen if U.S. production...

  • ConocoPhillips expects spending to remain the same for next 3 years

    After cutting its capital budget in January ConocoPhillips' CEO announced that it expects to keep spending at a lower level for the next three years.

  • *Goldman Sachs slashes 2016-202 price outlook. LONDON, May 18- Oil prices firmed on Monday after a major advance by Islamic State militants in Iraq. Goldman Sachs lowed their Brent crude price assumption from 2016 to 2019 from $70 a barrel to $62- $65 a barrel and for 2020 from $70 a barrel to $55 a barrel.

  • Hoping for an OPEC supply cut? Forget it Monday, 18 May 2015 | 5:52 AM ET
    OPEC headquarters in Vienna, Austria.

    Any expectations that OPEC will cut its production quota next month took another dent Monday.