Oil stocks bounced, in their best day in three years, but oil industry analysts say the equities may be premature in celebrating a bottom in oil prices.» Read More
You're going to see volatility here, "said Daniel Flynn, energy analyst at Chicago's Price Futures Group. Brent for February delivery was up $1.05 at $61.06 a barrel by 2:37 p.m. EST, after hitting a session high of $63.40. The biggest slide in oil prices since the 2008 financial crisis had accelerated after OPEC met in November, when Gulf producers resisted calls...
CRUDE OIL FUTURES TURN NEGATIVE POST-SETTLEMENT, AFTER CLOSING SESSION UP 1 PCT AND RALLYING MORE THAN 4 PCT EARLIER.
ABUJA, Dec 17- Nigeria has slashed its forecast for economic growth in 2015 due to the plunge in global oil prices, the finance minister's budget presented to parliament on Wednesday showed. Oil accounts for the bulk of government revenue in Nigeria, but global crude prices have almost halved over the last six months. The 4.3 trillion naira budget is based on a...
NY will move to prohibit fracking in the state, citing unresolved health issues and dubious economic benefits of the widely used gas-drilling technique.
CALGARY, Alberta, Dec 17- Canadian oil producers deepened 2015 spending cuts on Wednesday, as Husky Energy, MEG Energy and Penn West Petroleum joined those hacking back capital budgets in response to tumbling crude prices. Penn West, one of Canada's largest conventional oil producers, also cut its dividend to 3 Canadian cents per share from 14 Canadian cents.
*Wall Street rises after string of losses. *Brent inches over $60 a barrel. The yield on U.S. five-year Treasuries climbed to session highs as the gains on Wall Street and domestic oil futures pared safe-haven buying that has been fueled by the deepening economic crisis in Russia.
FRONT-MONTH CRUDE OIL FUTURES RISE $1 A BARREL.
Emirates Airline - and the industry more broadly - is benefitting from lower oil prices, and will report "healthy profits" says Tim Clark, President of Emirates Airlines.
*OPEC, Russia unwilling to cut supply, spurring weakness. LONDON, Dec 17- Brent crude oil moved above $60 a barrel on Wednesday as U.S. data showed falling crude inventories, stemming deep losses brought on by a supply glut and signals from OPEC producers and Russia that they will not cut production. "The decline in overall crude oil inventories was smallish," said John...
ABUJA, Nigeria— Nigeria's finance minister presented a 2015 budget of $23 billion to parliament on Wednesday, slashed by nearly $3 billion to accommodate slumping oil prices. Minister Ngozi Ikonjo-Iweala said she expects government revenue of $19.7 billion off growth of 5.5 percent next year, down from an earlier projection of 6.35 percent.
CNBC's Jackie DeAngelis reports the latest data on crude oil and gasoline inventories.
Discussing if Russia's shrinking economy is becoming a global economic threat, with Charles Dallara, The Americas of Partners Group.
The United States on Wednesday slapped sanctions on Dutch and Swiss oil trading firms for their dealings with the Syrian government.
Jeffrey Immelt, General Electric chairman & CEO, explains the company's exposure to Russia, and where he sees growth in China and emerging markets.
Jeffrey Immelt, General Electric chairman & CEO, discusses the current oil cycle and gives his read on China's outlook.
*Oil minister Hawrami "hopeful" on final Baghdad deal. LONDON, Dec 17- Iraq's semi-autonomous Kurdistan Regional Government will ramp up oil exports in the coming months, moving it closer to economic self-sufficiency while it works to clinch a final deal with Baghdad on crude sales and revenue sharing. KRG natural resources minister Ashti Hawrami told a...
American Alan Gross who spent 5 years in a Cuban prison has been released. CNBC's Michelle Caruso-Cabrera explains how this impacts the U.S. embargo against Cuba.