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Stocks, oil and gasoline prices rose to new milestones to close out the week. The Dow hit the 14,000 for the first time since 2007, Brent crude futures are at a 4-month high, and gas prices at the pump on average are at the highest price on record for this time of year. CNBC's Sharon Epperson looks ahead to how far gas prices could climb over the next few weeks.
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CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.
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*Natural gas field attacked in OPEC- member Algeria. NEW YORK, Jan 16- Front-month Brent crude futures pared gains and nearby contracts turned lower on Wednesday on news of an expected restart of a shut North Sea pipeline system, while U.S. crude rallied on data showing domestic crude stocks fell last week.
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*OPEC trims demand growth outlook. LONDON, Jan 16- Crude oil edged up towards $111 a barrel on Wednesday, recovering slightly from a drop in the previous session, supported by the closure of the Brent pipeline system in the North Sea.
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*OPEC trims demand growth outlook. LONDON, Jan 16- Brent crude oil edged up towards $111 a barrel on Wednesday on North Sea production problems and robust U.S. retail sales figures, which boosted hopes for stronger demand.
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LONDON, Jan 16- OPEC expects demand for its crude to be lower than expected in 2013 because of higher supply from rival producers, indicating inventories could build up substantially if the producer group maintains current output. It forecast demand for OPEC crude this year would average 29.65 million barrels per day, down 100,000 bpd from last month.
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CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.
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CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.
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CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.
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DUBAI, Jan 10- Saudi Arabia has cut oil production substantially, moving to fend off a growing overhang in world oil supply and defend prices well above $100 a barrel. Core Gulf OPEC producers Kuwait and the United Arab Emirates have shown no inclination to lower supplies, an OPEC source said.
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CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.
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It's been heralded as a game-changer for the global oil industry: the boom of shale oil in the United States, and with it the real prospects of ramping up domestic energy production and reducing imports. But it also raises serious questions about where it leaves Gulf oil producers.
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CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.
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CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.
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QUITO, Jan 5- Ecuador's consumer prices rose 4.16 percent last year, the government of the South American OPEC nation said on Saturday, below its forecast of 5.14 percent. Ecuador's economy is likely to have expanded by about 5 percent in 2012, President Rafael Correa said last month.
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CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks ahead to where oil and precious metals are likely headed next week.
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CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.
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If Texas were a member of OPEC, it would be the cartel's seventh biggest member. So, should the Lone Star State join OPEC? Andy Lipow, president of Lipow Oil Associates, weighs in.
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Not all commodities participated in Wednesday's rally. CNBC's Sharon Epperson on the big plunge in natural gas prices and what could push prices even lower this week.
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CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.
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*Brent crude oil heads for record annual average over $111/ bbl. Prices found support throughout the year from unrest in the Middle East that threatened supplies, including Western efforts to halt Iran's nuclear ambitions through sanctions against the OPEC nation.