Union leaders called strikes on Sunday at nine U.S. refineries in a bid to pressure oil companies to agree to a new national contract covering workers at 63 plants.» Read More
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. The ECB's QE announcement put downward pressure on oil today, as did a huge weekly build. Nat gas settled down, as well, as inventories were down less than expected. Gold was higher on the day.
*Yemeni President Abd-Rabbu Mansour Hadi resigns. NEW YORK, Jan 22- Crude oil prices pared early losses but still settled lower on Thursday after a government report showed the biggest build in U.S. crude inventory in at least 14 years. "The magnitude of the build in crude came as a surprise," said Andrew Lipow, president of Lipow Oil Associates.
Jan 22- For massive conglomerate General Electric Co, the plunge in oil prices stands to both help and hurt. Since 2007, GE has invested $14 billion in this once-fast-growing unit through acquisitions. "We recognize that lower oil prices will affect this business, but no one knows how much yet," said Charlie Smith, chief investment officer of Fort Pitt Capital, which...
Jim Iuorio, TJM Institutional Services, weighs in on whether oil traders are prepared to spot the bottom yet.
The price of oil will go lower as supply and demand remain unbalanced, activist investor Carl Icahn tells CNBC.
Investors in the electric carmaker "have to go along for that ride" in volatility, said Adam Jonas of Morgan Stanley.
The FMHR traders react to Carl Icahn's comments on shorting the euro/dollar, and the slide in oil.
Carl Icahn, Chairman of Icahn Enterprises, provides perspective on the pullback in the price of oil.
*ECB to buy 60 billion euros of government bonds each month. NEW YORK, Jan 22- Crude oil futures tumbled on Thursday after the Energy Information Administration announced the largest build in U.S. crude stocks in at least 14 years. U.S. crude fell more than 3 percent after the announcement, tumbling $1.54 to trade at $46.24 by 11:57 a.m. EST.
NEW YORK, Jan 22- The discount for U.S. crude relative to Brent crude futures widened nearly 30 percent after weekly U.S. government data on Thursday showed a larger-than-expected U.S. crude stock build last week. The arbitrage moved from around $1.73 a barrel at 11:01 a.m. EST to as much as $2.29 a barrel at 11:40 a.m. EST. U.S. crude stocks jumped 10.1 million...
At Davos, Majid Jafar, CEO of Crescent Petroleum, says Egypt is getting its optimism back, with improvements in its infrastructure, employment and oil and gas space.
Canada's oil sector will cut its 2015 investment by one third amid plummeting oil prices, The Financial Times reports.
LONDON, Jan 22- Brent crude oil fell towards $48 a barrel on Thursday after the European Central Bank said it would start buying government bonds, a move which could push the dollar to new highs against the euro and put downward pressure on commodities. Exceeding market expectations, ECB President Mario Draghi said the bank would buy 60 billion euros of...
CNBC's Jackie DeAngelis reports the last week's crude oil inventory data.
Jack Koraleski, Union Pacific president & CEO, provides his outlook for the U.S. economy and explains how the plunge in oil has impacted the railroad operator.
CNBC's Jackie DeAngelis reports the latest data on natural gas inventories.
Oil prices will not fall to $20 or $25 a barrel, OPEC Secretary-General Abdullah al-Badri said in an interview with Bloomberg.
Gary Kelly, Southwest Airlines CEO, discusses the company's fuel hedging program and strong competition in the sector.
LONDON, Jan 22- Brent crude oil fell below $49 a barrel on Thursday after the European Central Bank said it would start buying government bonds, a move which could push the dollar to new highs and put downward pressure on commodities. Exceeding market expectations, ECB President Mario Draghi said the bank would buy 60 billion euro of government bonds a month until...
LONDON, Jan 22- Oil prices pared gains on Thursday after the European Central Bank said it would start buying government bonds, a move which could push the dollar to new highs and put downward pressure on commodities. Exceeding market expectations, ECB President Mario Draghi said the bank would buy 60 billion euros of government bonds a month until the end of...