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  • SINGAPORE, Jan 29- Oil remained weak in Asia on Thursday after data showing record U.S. stockpiles sent prices tumbling to the lowest level in nearly six years in the previous session and analysts said a global glut would continue to keep the market under pressure. Brent was trading at $48.65 a barrel at 0255 GMT while U.S. crude was at $44.54, versus the low of $44.08...

  • After touching a longtime low, crude settles up 8 cents Thursday, 29 Jan 2015 | 2:32 PM ET
    A floor hand for Raven Drilling, pauses while drilling for oil in the Bakken shale formation outside Watford City, North Dakota.

    West Texas Intermediate fell below $44 after data showed additions to already record-high U.S. oil inventories.

  • SEOUL, Jan 29- U.S. crude futures were trading near 6- year lows just below $44.50 a barrel in early Asian trade on Thursday, remaining under pressure after data showing U.S. crude stocks surged to their highest on record. *U.S. crude's front-month contract shed 1 cent at $44.44 a barrel as of 0000 GMT. *Benchmark Brent crude closed down $1.13, or 2.3 percent, at $48.47,...

  • Brace for $40 oil in coming weeks: Expert   Wednesday, 28 Jan 2015 | 6:44 PM ET
    Brace for $40 oil in coming weeks: Expert

    Andy Lipow, President of Lipow Oil Associate, expects West Texas Intermediate crude to test the $40 a barrel level as oil inventories continue to rise in the U.S.

  • Commodities tomorrow: Oil under $45   Wednesday, 28 Jan 2015 | 4:00 PM ET
    Commodities tomorrow: Oil under $45

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. The fact that crude settled under $45, traders say, means that it will likely fall even further.

  • *U.S. crude hits session low at $44.08, lowest since April 2009. NEW YORK, Jan 28- Oil slumped on Wednesday, with U.S. crude prices at near six-year lows, after the government reported record-high inventories in the United States that raised anxieties about the global oil glut that had pressured the market since last summer. It sank to as low as $44.08 before the close,...

  • NEW YORK, Jan 28- Oil prices fell on Wednesday after the U.S. government reported record-high crude inventories, adding to anxieties about the global glut that has pressured the market since last summer. Benchmark Brent crude oil was down 84 cents at $48.76 a barrel by 1:07 p.m. ET, after making a session low at $48.65. U.S. crude dropped $1.39 to $44.84, after...

  • Jan 28- Cenovus Energy Inc Canada's No. 2 independent oil producer, cut its 2015 capital budget by C $700 million on Wednesday, blaming plunging crude oil prices. The savings will come from suspending the bulk of Cenovus's conventional drilling program in southern Alberta and Saskatchewan, and delaying some long-term expansions and new projects in the oil...

  • But the build the EIA cited was about a third lower than the nearly 13 million barrels reported for the week to Jan. 23 by the American Petroleum Institute on Tuesday. Benchmark Brent crude oil was down 61 cents at $48.99 a barrel by 12:15 p.m. ET, off its session low of $48.65. "This inventory is bad, but not so bad" as expectations set by the API data, said Dominick...

  • Fed rates hike a ‘tough call’: Analyst Wednesday, 28 Jan 2015 | 12:03 PM ET
    The Marriner S. Eccles Federal Reserve Building in Washington.

    The Federal Reserve faces a tough decision on whether or not to raise interest rates because of several factors, one analyst says.

  • Hess reports 4Q loss Wednesday, 28 Jan 2015 | 11:26 AM ET
    A customer refuels at a Hess gas station in Falls Church, Virginia, Jan. 26, 2015.

    Hess Corp. on Wednesday reported a fourth-quarter loss of $8 million, after reporting a profit in the same period a year earlier.

  • LONDON, Jan 28- Oil slipped to $49 a barrel on Wednesday after U.S. crude stocks soared to the highest on record last week, and as a firmer dollar weighed on prices. "Refined product demand continues to be the sole source of strength for the market, but it is not enough to overcome the tidal wave of crude oil supplies for now," said John Kilduff at Again Capital LLC in New...

  • *Barclays cuts 2015 forecast to $44 a barrel from $72 for Brent. Jan 28- Barclays Plc and Goldman Sachs Group Inc issued even more bearish forecasts for oil prices on Wednesday, predicting no significant recovery in the first half of 2015.. Barclays slashed its 2015 Brent crude oil price forecast to $44 a barrel from $72, while Goldman said it expected prices for...

  • The really scary thing about Europe's QE plan Wednesday, 28 Jan 2015 | 10:44 AM ET
    European Central Bank Governor Mario Draghi speaks at a news conference during the World Bank/IMF annual meetings in Washington, Oct. 11, 2014.

    Unlike the US, Europe's central banks might actually lose money on their bond buying, says Ron Insana. And what happens then — who bails THEM out?

  • Fed could raise in second half: Analyst   Wednesday, 28 Jan 2015 | 10:36 AM ET
    Fed could raise in second half: Analyst

    Ethan Harris, Co-Head of Global Economics Research, BofA Merrill Lynch Global Research, says the Fed could raise rates in the second half of this year. The Fed must look at inflation and the unemployment rate, he says.

  • Crude inventories up ... again   Wednesday, 28 Jan 2015 | 10:31 AM ET
    Crude inventories up ... again

    CNBC's Jackie DeAngelis reports oil and gas inventories. Oil was up 8.9 million barrels, and gasoline was down 2.6 million.

  • Goldman cuts outlook for whole commodity sector Wednesday, 28 Jan 2015 | 12:16 PM ET
    corn crops commodity farming agriculture

    After countless oil price downgrades, analysts at Goldman Sachs have cut their outlook for the commodity sector as a whole.

  • The American Petroleum Institute said late on Tuesday that U.S. crude stocks jumped by a massive 12.7 million barrels last week, triple the volume expected, and including a 2 million barrel increase at Cushing, Oklahoma, the delivery point of the U.S. oil contract. If confirmed by official data from the U.S. Energy Information Administration at 1530 GMT on...

  • Jan 28- Cenovus Energy Inc, Canada's No. 2 independent oil producer, cut its capital spending budget for 2015 in response to the slump in crude oil prices. The company said it could defer spending of up to C $700 million, mainly by suspending a bulk of its conventional drilling in southern Alberta and Saskatchewan and delaying long-term oil sands expansion and new...

  • Fed: The 'most uneventful meeting' to date?   Wednesday, 28 Jan 2015 | 5:45 AM ET
    Fed: The 'most uneventful meeting' to date?

    Boris Schlossberg, managing director at BK Asset Management, remains dubious about the Federal Reserve, saying there's no economic merit in the Fed's arguments to raise rates.