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  • *Iran reiterates opposition to nuclear deal with timelines. NEW YORK, March 4- U.S. oil futures rose on Wednesday and benchmark Brent pared losses as OPEC member Iran stressed that it opposed a timeline for a freeze on nuclear activities, news that helped crude rebound from an early slide tied to swelling U.S. stockpiles. U.S. crude settled up $1.01 at $51.53 a barrel,...

  • Why OPEC is dead Wednesday, 4 Mar 2015 | 3:32 PM ET

    With oil's price collapse, we can now declare that OPEC's reign as king of the market is over.

  • NEW YORK, March 4- U.S. oil futures rebounded on Wednesday and benchmark Brent pared losses as OPEC member Iran reinforced its opposition to a nuclear deal with timelines, helping the market recover from an earlier price slide tied to big U.S. crude supplies. Brent was down 57 cents at $60.45 a barrel at 2:41 p.m. EST, off the day's low of $59.47.

  • US crude settles up $1, at $51.53 after Beige Book Wednesday, 4 Mar 2015 | 2:37 PM ET
    Oil drills are pictured in the Kern River oil field in Bakersfield, California

    US crude futures closed up $1.01, at $51.53 a barrel, with their discount to Brent narrowing to less than $10 a barrel, after the announcement.

  • UPDATE 2-Saudi Arabia expects oil price to stabilise Wednesday, 4 Mar 2015 | 8:07 AM ET

    *Circumstances require non- OPEC nations to help balance market. *Says history to prove OPEC made right decision at Nov meeting. Giving a speech in the German capital, Ali al-Naimi also urged non- OPEC producers to help balance the oil market, saying it was not up to Saudi Arabia to subsidize higher-cost producers and that circumstances required non- OPEC to...

  • In a speech, he said his country was committed to helping balance the oil market, but added it was not up to Saudi Arabia, OPEC's top exporter, to subsidize higher-cost producers and that circumstances required non- OPEC nations to cooperate. Prices collapsed from $115 in June due to oversupply, in a decline that deepened after Saudi Arabia and the rest of the...

  • *Fighting escalates in Libya, militants seize oilfield. LONDON, March 4- Brent dipped on Wednesday but held above $60 a barrel, supported by a rise in Saudi crude prices and air strikes and militant raids on oil facilities in Libya. In a move widely seen as showing Saudi Arabia's confidence in a demand recovery, the OPEC kingpin raised official selling prices for its...

  • *Saudi Arabia raises monthly prices for crude sales to U.S., Asia. SINGAPORE, March 4- Brent dipped on Wednesday but held above $60 a barrel, supported by a rise in Saudi crude prices and air strikes on oil facilities in Libya. In a move widely seen as showing Saudi Arabia's confidence about a recovery in demand, the OPEC kingpin raised the official selling prices for...

  • Brent holds above $60 after Saudi price hikes Tuesday, 3 Mar 2015 | 10:10 PM ET

    *Fighting escalates in Libya before UN talks. SINGAPORE, March 4- Brent held above $60 a barrel on Wednesday supported by a hike in Saudi crude prices and strikes on oil facilities in Libya. In a move widely seen as a vote of confidence by Saudi Arabia in demand recovery, the OPEC kingpin raised the official selling prices for its oil deliveries to Asia and the United...

  • Commodities tomorrow: The Iranian oil issue  Tuesday, 3 Mar 2015 | 4:00 PM ET

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Israeli PM Netanyahu's comments spiked oil until Obama responded. Oil still closed over $50.

  • CARACAS, March 3- OPEC member Venezuela said on Tuesday it has modified a deal with beef-exporting Uruguay to allow it to pay for oil with goods and services, in the latest move possibly designed to ease shortages. Under a July contract, Venezuela promised to supply some 12,330 bpd to Uruguay this year. Strict currency controls in Venezuela have reduced access to...

  • Commodities tomorrow: Possible Iranian nuke deal?  Monday, 2 Mar 2015 | 4:00 PM ET

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Crude closed down on the day, in part because the Iranian foreign minister talked about a possible nuclear deal.

  • US crude settles down 17 cents, at $49.59 a barrel Monday, 2 Mar 2015 | 2:36 PM ET

    Brent extended losses on Monday after Iran said a deal on its nuclear program could be agreed this week, which could boost the country's oil exports.

  • LONDON, March 2- Oil dropped more than 1 percent on Monday, with Brent slipping under $62 a barrel, depressed by a stronger dollar and a rise in Libyan crude output. Brent crude hit a low of $61.70 a barrel and was at $61.90 by 1100 GMT, down 68 cents. Disruption to oil supplies from members of the Organization of the Petroleum Exporting Countries has helped support...

  • Brent April crude was up $1.51 at $61.56 a barrel at 11:54 a.m. EST, on pace to post a 16 percent monthly gain, the first monthly rise since June. April crude was up 75 cents at $48.92 a barrel, needing a finish above $48.24 to post a February gain. Oil has been supported by signs that lower prices are starting to reduce investment in production in non- OPEC countries and...

  • Harold Hamm: Saudis view US oil as economic threat Friday, 27 Feb 2015 | 8:28 AM ET
    Harold Hamm

    Oilman Harold Hamm says the Saudi hard line on production has turned the Russian "ruble into rubble" while also squeezing U.S. producers.

  • Commodities tomorrow: Oil glut grows  Thursday, 26 Feb 2015 | 4:00 PM ET

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Reports out of Cushing, Oklahoma, say we could be full in oil storage in 8 to 10 weeks.

  • US crude ends down 5.5% on ample supply Thursday, 26 Feb 2015 | 2:38 PM ET

    Crude oil futures fell on Thursday, as bulging U.S. crude stockpiles offset indications of a recovery in demand.

  • PARAGUANA/ CARACAS, Venezuela, Feb 25- Venezuelan state oil company PDVSA's 146,000- barrel-per-day El Palito refinery has been halted since Monday due to problems with a compressor and a demineralization plant, union leader Ivan Freites said on Wednesday. Amuay, the OPEC country's biggest refinery, is operating at 370,000 bpd, well below its 645,000- bpd...

  • Commodities tomorrow: Wait, oil was up?  Wednesday, 25 Feb 2015 | 4:00 PM ET

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Even after an 8.4 million barrel build, oil ended the day over $50.