Matt Smith, Schneider Electric, discusses why crude prices are hitting 52-week lows. And Boris Schlossberg, BK Asset Manangement, provides his play on the euro versus the U.S. dollar.» Read More
LONDON, Oct 2- Oil prices hit their lowest level since June 2012 on Thursday, with benchmark Brent prices dropping below $92 a barrel, as price cuts from top producer Saudi Arabia added to supply glut worries and weak global economic data. Oil declined together with European stocks ahead of a European Central Bank meeting on Thursday, as investors waited to see if...
RUSSIAN CENTRAL BANK GOVERNOR NABIULLINA SAYS WORST CASE SCENARIO THAT SEES OIL PRICES AT $60 PER BARREL DOES NOT INCLUDE INTRODUCTION OF CAPITAL AND CURRENCY CONTROLS.
*Brent may struggle to recover on weak demand in China, Europe. SINGAPORE, Oct 2- Brent crude futures hovered near $94 a barrel on Thursday and were close to their lowest level in more than two years, reflecting sustained pressure from plentiful global supply and weak demand conditions in Europe and China. "Ultimately weak demand conditions in Europe and China mean...
*Brent may struggle to recover on weak demand in China, Europe. SINGAPORE, Oct 2- Brent crude futures hovered near $94 a barrel on Thursday and were close to their lowest levels in more than two years, reflecting sustained pressure from plentiful global supply and weak demand conditions in Europe and China. "Ultimately weak demand conditions in Europe and China...
TOKYO, Oct 2- U.S. crude futures edged up on Thursday towards $91 a barrel and paring losses from a day earlier due to support from a U.S. government report showing a surprise drop in U.S. crude stockpiles. *NYMEX crude for November delivery was up 18 cents at $90.91 a barrel by 2324 GMT, after settling down 43 cents at $90.73 on Wednesday. *The oil price drop is a concern for...
DUBAI/ KHOBAR, Oct 1- Saudi Aramco sharply cut official oil prices for Asian customers in November, the state-run company said on Wednesday in the clearest sign yet the world's largest exporter is trying to compete for crude market share.
NEW YORK, Oct 1- Brent oil bounced off a two-year low and headed toward $96 a barrel on Wednesday and U.S. crude also rose as crude stockpiles fell unexpectedly and Chinese factory data offered signs of hope for the slowing economy.
Crude is coming off its worst quarter in 2 years. Dan Dicker of MercBloc, sees oil price getting to a much higher price over the next two years to at least $125.
*China's PMI steadies at 51.1, just above forecast. LONDON, Oct 1- Oil rose from a more than two-year low to above $96 a barrel on Wednesday, supported by a slightly better-than-expected Chinese factory survey and a surprise drop in U.S. crude oil inventories.
CRUDE OIL FUTURES EXTEND GAINS AFTER EIA STORAGE REPORT.
CNBC's Bertha Coombs reports the latest data on crude oil and gasoline inventories.
*Brent seen averaging $103.30, WTI $96.10 in 2015. Brent has averaged near $110 a barrel since 2011 but has fallen sharply since June as U.S. shale oil supplies outstripped expectations and Iraqi and Libyan production has risen despite violence and political unrest in the two OPEC members.
*China's PMI steadies at 51.1, just above forecast. LONDON, Oct 1- Oil rose from a more than two-year low to over $95 a barrel on Wednesday as a slightly better-than-expected Chinese factory survey countered worries of an economic slowdown in the world's No. 2 oil consumer and ample supplies.
RUSSIAN CENTRAL BANK TO ASSUME OIL PRICE OF $60 PER BARREL IN ITS NEW STRESS SCENARIO OF MONETARY POLICY OUTLOOK- INTERFAX NEWS AGENCY.
"It's a tiny bit better than the market expected, but the China bears have been beating their chest very loudly in the past few weeks so we should see some relief rally," said Ben Le Brun, market analyst at OptionsXpress in Sydney. Brent oil for November delivery was up 30 cents at $94.97 a barrel by 0627 GMT, off a session high of $95.17.
Antoine Halff, Head, Oil Industry & Markets at International Energy Agency, outlines the factors that are weighing on oil demand around the world.
Crude reversed session gains, after the effect of U.S. stockpile data wore off and investors grew fearful about growing risks.
*NYMEX crude for November delivery was up 19 cents at $91.35 a barrel by 0014 GMT, after settling down $3.41 at $91.16 on Tuesday, hurt by falling gasoline prices and the dollar's surge to a four-year peak against a basket of currencies.