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Oil

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  • LONDON, Feb 20- Brent crude oil rose towards $61 a barrel on Friday as expectations of falling U.S. rig count numbers outweighed concerns about oversupply. This week's numbers, produced by oil services firm Baker Hughes Inc, are due around 1800 GMT on Friday. "A further sharp decrease in the oil rig count is expected... which points to declining U.S. oil production in the...

  • UPDATE 5-Oil slips towards $60 as oversupply weighs Friday, 20 Feb 2015 | 6:48 AM ET

    LONDON, Feb 20- Brent crude oil fell towards $60 a barrel on Friday as oversupply, underlined by record-high U.S. crude stocks, weighed on the market. U.S. crude inventories rose 7.7 million barrels to 425.6 million barrels last week, rising for a sixth straight week to record highs, data from the Energy Information Administration showed on Thursday.

  • Oil volatility: What it means for equities   Friday, 20 Feb 2015 | 5:00 AM ET
    Oil volatility: What it means for equities

    The price of oil hasn't stabilised yet - what does it mean for equity markets? Brian Needleman, senior partner at Cornerstone Financial Partners, weighs in.

  • UPDATE 4-Oil falls below $60 as oversupply weighs Friday, 20 Feb 2015 | 4:38 AM ET

    LONDON, Feb 20- Brent crude oil fell below $60 a barrel on Friday as oversupply, supported by record-high U.S. crude stocks, weighed on the market. U.S. crude inventories rose 7.7 million barrels to 425.6 million last week, rising for a sixth straight week to record highs, data from the Energy Information Administration showed on Thursday. Brent crude futures for...

  • Saudi Arabia: The 'most flexible' oil producer   Friday, 20 Feb 2015 | 4:20 AM ET
    Saudi Arabia: The 'most flexible' oil producer

    Miswin Mahesh, oil analyst at Barclays, says Saudi Arabia is being written off at the moment, however a shift in policies could change that.

  • Naftogaz CEO: EU's gas supply unaffected   Friday, 20 Feb 2015 | 4:00 AM ET
    Naftogaz CEO: EU's gas supply unaffected

    Andriy Kobolev, CEO Naftogaz, says its suspension of shipments to some Ukrainian areas won't have any effects on Europe's gas supply.

  • Oil ends lower; report shows slower rig reduction Friday, 20 Feb 2015 | 2:40 PM ET

    The number of rigs drilling for oil in the United States fell by 48 last week, about half the reduction seen in the previous week.

  • NYMEX-Crude steadies above $51/bbl after 2-day fall Thursday, 19 Feb 2015 | 7:36 PM ET

    TOKYO, Feb 20- U.S. crude futures stood little changed above $51 a barrel on Friday, as the market awaited key U.S. oil rig count data for direction after falling for the past two sessions due to a rise in U.S. oil inventories. *NYMEX crude for March delivery, which expires later in the day, was up 3 cents at $51.19 a barrel by 0007 GMT, after settling down 98 cents on Thursday.

  • Hedge funds dig deep in energy company bets Thursday, 19 Feb 2015 | 7:24 PM ET
    Oil

    Activist hedge funds are buying stakes in North American oil and gas producers whose stocks have fallen because of the collapse of energy prices.

  • Commodities tomorrow: Oiler coaster   Thursday, 19 Feb 2015 | 4:00 PM ET
    Commodities tomorrow: Oiler coaster

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Crude was down on a big build today, but managed to bounce back. Traders think it's either seeking a bottom or preparing for the next leg lower.

  • *Prices off session lows; Brent above $60, U.S. crude above $51. NEW YORK, Feb 19- Oil prices fell for a second day on Thursday, after the U.S. government reported another record high in crude inventories, but prices bounced sharply off session lows on relief the builds were less than an industry group had estimated. "It is still a bearish number though it provides a little...

  • NEW YORK, Feb 19- Oil prices recovered much of their early losses Thursday after weekly stock builds turned out to be less than some had feared, although the U.S. government reported another record high in crude inventories. Brent was down 20 cents at $60.33 a barrel by 2:22 p.m. EST, after falling as low as $57.80 earlier. U.S. crude settled down 98 cents at $51.16, off...

  • Oil firms' new strategy: Drill smarter, not more Thursday, 19 Feb 2015 | 2:01 PM ET
    Workers near oil pumpjack

    Falling oil prices have helped give rise to tech firms that focus on making drilling more efficient.

  • *Output from Saudi Arabia may also be rising- PIRA. LONDON, Feb 19- Brent crude oil prices fell below $59 a barrel on Thursday after U.S. government data showed crude stocks hit a record high last week. Benchmark Brent crude futures for April were down $1.83 at $58.70 by 1618 GMT, having hit an intraday low of $57.80 earlier in the session, extending declines from...

  • *North Sea, West Africa, Brazil projects most vulnerable. OSLO, Feb 19- The global oil service industry will have to cut more jobs and idle more rigs following the slump in crude prices and companies must reshape their business models to get a grip on costs, the CEO of U.S. firm FMC Technologies said on Thursday. One of the world's biggest subsea equipment suppliers, FMC...

  • US STOCKS-Futures point to flat open, crude oil falls Thursday, 19 Feb 2015 | 8:50 AM ET

    *Priceline shares rally in premarket after results. NEW YORK, Feb 19- U.S. stock index futures pointed to a flat open on Wall Street Thursday, with major indexes near record levels, as investors continued to digest ongoing uncertainty over Greece. Exxon Mobil fell 1.2 percent to $89.95 in premarket trading while Halliburton Co was off 2.2 percent to $43.43 and...

  • US STOCKS-Futures flat, but crude oil sharply lower Thursday, 19 Feb 2015 | 7:02 AM ET

    *Crude oil slumps, but above $50 per barrel. *Greece aims to finish euro zone deal "soon". NEW YORK, Feb 19- U.S. stock index futures were little changed on Thursday as investors looked ahead to data on the labor market and continued to digest recent comments by Federal Reserve officials.

  • Air France-KLM CFO on oil prices   Thursday, 19 Feb 2015 | 4:55 AM ET
    Air France-KLM CFO on oil prices

    CNBC's Stephane Pedrazzi talks to Pierre-François Riolacci, CFO of Air France-KLM, about how the company cannot benefit fully from the low oil price.

  • Centrica, oil stocks lead European shares lower Thursday, 19 Feb 2015 | 4:37 AM ET

    *Centrica falls 7.9 pct as oil slump prompts writedowns. LONDON, Feb 19- European stocks edged off seven-year highs on Thursday after some disappointing updates from utility Centrica and airline Air France-KLM and as a slide in crude prices hit oil shares. Shares in Britain's other large power providers- EDF, SSE, Centrica, E.ON, RWE npower- also fell.

  • Oil has hit its bottom: Edmund Shing   Thursday, 19 Feb 2015 | 4:20 AM ET
    Oil has hit its bottom: Edmund Shing

    Edmund Shing, global equity portfolio manager at BCS Asset Management, says it is unlikely that oil price will go back down to $30 to $50, and has a better chance of reaching $70.