Brent crude was little changed just below $98 a barrel on Tuesday, capped by a soft global economic outlook.» Read More
SINGAPORE, Sept 16- Brent crude was little changed just below $98 a barrel on Tuesday, holding gains after recovering from its lowest price in more than two years but capped by a soft global economic outlook.
It settled 65 cents a barrel higher at $92.92 on the previous session, recovering by more than $2 a barrel after falling earlier in the session towards 16- month lows. *November Brent gained 20 cents a barrel to $98.08 after it ended 8 cents lower at $97.88.
CNBC's Jackie DeAngelis reports the strong dollar and weakness from China continues to put pressure on the price of oil. DeAngelis says Brent crude dipped under $97 a barrel.
NEW YORK, Sept 15- Oil prices slid to a 26- month low on Monday, and many other commodities also fell in a selloff that drove a sector benchmark near its lowest level this year on discouraging data out of China along with a stronger U.S. dollar.
*Russia to meet with OPEC as low prices pressure budget. NEW YORK, Sept 15- Brent and U.S. crude futures fell in choppy trading on Monday, with weak Chinese economic data pushing the expiring October Brent contract to a two-year low and news that Russia's energy minister would meet OPEC officials cushioning the drop.
Lifting the 1970s ban on crude exports would go a long way to reducing energy prices and increasing jobs in the U.S., the CEO of Hess tells CNBC.
NEW YORK, Sept 15- Brent crude fell below $97 per barrel on Monday to its lowest in more than two years as lackluster economic data from China damped prospects for oil demand at a time of abundant supply, while expectations the Federal Reserve will provide new details this week about its plans to raise interest rates lifted the dollar.
CRUDE FUTURES TURN HIGHER, CHOPPY AS OCT BRENT APPROACHES CONTRACT EXPIRATION.
CRUDE OIL FUTURES FALL $1 TO $91.27 PER BARREL ON WEAK CHINA DATA.
*China Aug factory output growth slows to near 6- year low. LONDON, Sept 15- Brent crude oil on Monday slumped to its lowest in over two years, below $97 per barrel as lacklustre economic data from China, the world's top energy consumer, cast a shadow over the outlook for oil demand at a time of abundant supply.
*China Aug factory output growth slows to near 6- year low. SINGAPORE, Sept 15- Brent crude slumped to a more than two-year low under $97 per barrel on Monday as lacklustre economic data from China, the world's top energy consumer, cast a shadow on the outlook for oil demand amid abundant global supplies.
*China Aug factory output growth slows to near 6- year low. SINGAPORE, Sept 15- Brent crude slumped to a more than two-year low under $97 per barrel on Monday as a slew of lacklustre economic data from China, the world's top energy consumer, cast a shadow on the outlook for oil demand amid abundant global supplies.
Brent and U.S. crude rebounded modestly in choppy trading, with weak Chinese data briefly pushing the October Brent contract to a two-year low.
Sinopec is selling a $17.4 billion stake in its retail unit as the country reforms its sprawling state-owned enterprises. The Financial Times reports.
Exxon Mobil’s ambitions in Russia appear to have been dashed, at least until the Ukraine crisis is resolved. The NYT reports.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets and looks ahead at where oil and precious metals are likely headed next week.
CNBC's Tyler Mathisen looks ahead to what are likely to be next week's top business and financial stories.
New owner of the Buffalo Bills Terry Pegula made a fortune in drilling. Rick Horrow, Horrow Sports Ventures president, shares his opinions on the deal, and why the Bills should get a new stadium.
Falling commodity prices signal deflationary pressure, and that has to be frustrating to the central banks, Art Cashin said.
*Weaker oil demand growth in China and Europe- IEA. NEW YORK, Sept 12- Brent oil prices fell on Friday, pressured by a strong dollar, weak demand and ample supplies, while U.S. crude rose, stabilizing a day after hitting 16- month lows.