Here's what will happen if OPEC does not cut production at its next meeting in response to low oil prices, two pros told CNBC.» Read More
What's bad news for consumers—namely, high energy prices—can be great for large investors and oil and gas companies.
NEW YORK, June 4- Brent crude turned lower, and U.S. crude pared gains on Wednesday on news that Ukraine's president-elect was working on a peace plan and that a meeting with Russia's leader this week in France was not being ruled out. Brent crude for July delivery was down 21 cents at $108.61 a barrel at 1:24 p.m. EDT.
CNBC's Rick Santelli and Gov. Pat McCrory (R-N.C.), discuss North Carolina's entrance into the gas exploration business and the state's unemployment benefits strategy.
CRUDE FUTURES PARE LOSSES TO TURN NEGATIVE, REACH SESSION LOW OF $102.59.
LONDON, June 4- Brent crude rose above $109 a barrel on Wednesday and U.S. crude jumped by $1 a barrel following a sharper-than-expected drop in U.S. oil inventories. Brent oil for July delivery was up 40 cents at $109.22 a barrel by 1433 GMT, after settling down 1 cent the previous day.
CRUDE FUTURES BRIEFLY EXTEND GAINS TO MORE THAN $1 AFTER EIA OIL INVENTORY DATA.
CNBC's Bertha Coombs reports the latest build in crude oil inventories.
SINGAPORE, June 4- Brent crude held near $109 a barrel on Wednesday, as investors eyed U.S. oil inventory data and looked to eurozone policies that they hope spur growth and boost the region's energy demand. July Brent crude was at $108.87 a barrel, up 5 cents, by 0729 GMT, after settling down 1 cent the previous day.
Edmund Shing, global equity portfolio manager at BCS Financial Group, discusses the oil and gas market and says infrastructure is the best way to invest in oil.
SINGAPORE, June 4- Brent crude held near $109 a barrel on Wednesday, as investors eyed U.S. oil inventory data and looked to euro zone policies they hope could spur growth and boost the region's energy demand. July Brent crude was at $108.95 a barrel, up 13 cents, by 0600 GMT, after settling up 1 cent the previous day.
SINGAPORE, June 4- Brent crude held near $109 a barrel on Wednesday, as investors eyed U.S. oil inventory data and looked to euro zone policies they hope could spur growth and boost the region's energy demand. July Brent crude was at $108.89 a barrel, up 7 cents, by 0201 GMT, after settling up 1 cent the previous day.
Crude pared gains on Wednesday, amid news that Ukraine's president-elect was working on a peace plan with Russia.
SINGAPORE, June 4- U.S. crude futures nudged up near $103 a barrel on Wednesday after industry data showed a bigger-than-expected fall in crude stockpiles in the United States.
CNBC's Bertha Coombs discusses the day's activity in the commodities markets. There was limited trading and low volume ahead of Friday's jobs number. Crude was slightly higher, nat gas was up, and gold was up just a bit, although it's still technically bearish.
Iranian oil exports are running above the levels the Islamic Republic agreed to when sanctions were loosened.
New York's highest court will consider allowing local bans on hydraulic fracturing.
*U.S., China data fuels hope economy is stabilising. NEW YORK, June 3- Brent crude futures fell and U.S. crude was near flat in choppy trade on Tuesday as economic data from the United States and China provided support to prices recently under pressure because of increasing global oil production.
CNBC's Michelle Caruso-Cabrera looks at Iranian oil export numbers and which countries are the biggest buyers. China has dramatically increased exports from Iran, which is apparently exceeding targets promised under eased sanctions.
LONDON, June 3- Brent crude oil futures slipped towards $108 a barrel on Tuesday, reflecting weak European demand, but reasonable Chinese manufacturing data helped keep a floor under prices. Brent futures for July were down 30 cents at $108.53 a barrel by 0900 GMT.
*OPEC oil output to hit 3- month high in May. SINGAPORE, June 3- Brent edged up near $109 a barrel on Tuesday, just off a three-week low, as positive economic indicators from the United States and China lifted the fuel demand outlook in the world's two largest oil consumers, offsetting a rise in OPEC production.