Oilman Harold Hamm says the Saudi hard line on production has turned the Russian "ruble into rubble" while also squeezing U.S. producers.» Read More
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Crude slid again on yesterday's record build.
The price of oil hasn't stabilised yet - what does it mean for equity markets? Brian Needleman, senior partner at Cornerstone Financial Partners, weighs in.
Miswin Mahesh, oil analyst at Barclays, says Saudi Arabia is being written off at the moment, however a shift in policies could change that.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Crude was down on a big build today, but managed to bounce back. Traders think it's either seeking a bottom or preparing for the next leg lower.
Edmund Shing, global equity portfolio manager at BCS Asset Management, says it is unlikely that oil price will go back down to $30 to $50, and has a better chance of reaching $70.
CNBC's Bertha Coombs discusses the day's activity in the commodities markets. Traders expect to see another build in crude inventories tomorrow. Nat gas was higher today, as frigid temps remained in the northeast.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. News from the IEA suggests Middle East production is stalling. Oil ended the day up 75 cents.
Oil pared gains after earlier getting support from threats to Middle East supplies and expectations lower prices may curb U.S. output.
Discussing volatility in the oil price, Charles Whall, portfolio manager at Investec Asset Management, explains why he thinks the oil price will come back up.
CARACAS, Feb 13- Venezuela will announce a change of policy soon on gasoline, the finance minister said in an interview broadcast on Friday, signaling the OPEC nation is moving ahead with along-awaited hike in the world's cheapest fuel. Gasoline is so heavily subsidized in Venezuela that one U.S. cent buys about 5 gallons, costing the government as much as $12...
CARACAS, Feb 13- Venezuelans puzzled over the impact of a complicated currency devaluation and fretted that dire product shortages in the OPEC nation's recession-hit economy would not go away. President Nicolas Maduro's socialist government this week launched a 70 percent devaluation via a new "free floating" currency system known as Simadi, the third of...
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Rig counts declined and Europe appears to be getting stronger. Nat gas and gold were up on the day, as well.
*IEA, OPEC, EIA see higher demand for OPEC crude. After an oversupply of world oil sent prices tumbling in 2014, top OPEC exporter Saudi Arabia urged fellow members not to prop up the market and to try to knock out competing sources like U.S. shale, which, because it has higher production costs, had to cut output when prices fell. In reports this week, The International...
CARACAS, Feb 12- Venezuela on Thursday unveiled a devaluation of 69 percent at the opening of a new free-floating currency exchange rate system, part of President Nicolas Maduro's efforts to stem capital flight and shore up the OPEC nation's coffers amid tumbling crude prices. It could also lead to billions of dollars in write-downs by foreign corporations...
SEOUL, Feb 12- U.S. crude futures rose above $49.50 a barrel on Thursday as the Ukraine army suffered some of the heaviest losses in the nine-month war, and Saudi Arabia and Russia's energy giant Gazprom discussed cooperation between OPEC and non- OPEC oil producers. *The leaders of France, Germany, Russia and Ukraine held peace talks in Belarus on Wednesday, while...
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. There was a big build in oil and gas today, and both were down on the day.
OPEC is claiming victory in the latest oil war. Here's what the US needs to do, says Ron Insana.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Crude was down big on the day as the EIA said it would take time to work through inventories. And after Citi's $20 call yesterday, JPMorgan piled on today.
Brent fell below $58 a barrel on Tuesday after the IEA warned that oil prices may decline as stocks keep rising this year.
*Igor Sechin says " OPEC has lost its teeth". LONDON, Feb 10- The head of Kremlin-controlled energy giant Rosneft targeted OPEC and the United States on Tuesday as he launched a broadside at the forces behind the oil price crash that has hit Russia's economy hard. Igor Sechin, one of President Vladimir Putin's closest allies, said during a rare visit to London that OPEC...