CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil tried to stabilize today on short covering heading into the weekend.» Read More
Yesterday (Wednesday), the heating oil contract led the Nymex liquids complex after a large draw in distillate inventories from the DOE. The heating oil crack hit an intra-day high of $24.814, the highest since April 20. But traders may have overlooked a report that was far less bullish for distillate demand.
CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where gold, oil and precious metals are likely headed tomorrow.
The lack of world peace affects the economy by trapping productivity and removing vital resources, according to an international research institute which also put the cost of global violence at $8.1 trillion last year.
It has almost been two years since US President Barack Obama took the stage at Cairo University, reaching out to a mesmerized audience and seeking "a new beginning between the United States and Muslims around the world".
As we have noted ad nauseam, we know from experience (post Hurricane Katrina and the 2008 oil bubble) that demand elasticities shift with retail gasoline above $3.30, fall off above $3.50 and plunge at/above $4. Be that as it may, the Wall Street community saw fit back in April to test this numerical fact.
The European Union has extended a blacklist of individuals and companies with links to Iran’s nuclear and ballistic missile programs as it looks to clamp down on investment and technology transfer into the country.
Japan is the first G7 country to fall back into recession, but will it be the last?
Mahmoud Ahmadinejad could chair the June meeting of the Organisation of Petroleum Exporting Countries, giving the Iranian president a platform and an opportunity for the country to force a way out of its growing isolation.
After reading the last few FOMC statements, we get the sense that the Fed is acting like a traffic cop at the scene of an accident, ushering gawking motorists along… nothing to see here folks, just keep moving on.
The International Energy Agency (IEA) Governing Board, warned on Thursday that rising oil prices are still affecting the global economic recovery, despite recent drops in the price, and urged oil producing countries to take action to lower the price of oil.
Robert Reich, former U.S. Secretary of Labor and current professor at Berkeley, is mad that this country’s most efficient manufacturing industry made money in the first quarter. He expressed his disgust over the weekend in a piece published at SFGate.com.
When the PPI increases by more than the CPI, it means producers are absorbing the higher costs of raw materials rather than passing them on to consumers.
The bullish stance by financial speculators is well documented, as readers well know, we have been bleating about this topic in The Schork Report for months now.
In regard to yesterday's (Thursday's) U.S. Senate Committee on Finance farce (aka the hearing on Oil and Tax Incentives and Rising Energy Prices), what can we say that we have not already said in the past about these political sideshows?
The market dropped by more than $11 a barrel last Thursday, and by almost $15 a barrel the following session. Then on Monday and Tuesday of this week the market rallied by $13.50 and near $12, respectively. This is insane. These numbers would have been inconceivable just a few years ago.
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 tomorrow.
The flooding along the Mississippi River and the potential impact to downstream capacity at the mouth of the River was digested over the weekend. Nymex gasoline opened yesterday's pit session on the bid as a result. That is not hard to understand. The only question is...
Last week the intra-week peak-to-trough decline in the euro/dollar cross plunged by 4.2%, the 17th largest negative range since 2002. The overall week-on-week decline amounted to 3.32%. That was the largest decline since the first week of the year and the 9th largest since 2002.
We are left to wonder, unless Bin Laden is the guy who has been buying all of that crude oil of late, how is it that his death is purportedly bearish for the market?
Looking at the commodities markets and what's likely to happen with US energy demand, with CNBC's Kate Kelly; Tom Kloza, Oil Price Information Service; and Paco Underhill, Envirosell founder & CEO.