U.S. crude futures dropped to around $94 a barrel on Friday after disappointing China data and on lingering concerns the U.S. Federal Reserve would curb its stimulus program.
CNBC's Sharon Epperson discusses the day's activity in the commodities markets. Traders are watching the situation in the Middle East and whether violence could spread throughout the region, she says.
The U.S. economy is awash in fossil fuel production, raising a tantalizing prospect of whether the U.S. should liquidate its Strategic Petroleum Reserve to help close the deficit.
A unit of Sinopec Group and brokerage China Galaxy Securities are launching Hong Kong IPOs on Monday seeking to raise up to $3.5 billion in total, injecting life into Asia's moribund IPO markets.
Oil was lifted by an interest rate cut by the European Central Bank that supported riskier assets, but a shaky global oil demand outlook and ample supply weighed.
Crude oil dropped, extending its biggest monthly drop in 11 months in April, as fresh concerns over economic growth in China weakened the demand outlook.
U.S. gas prices saw their cheapest April in three years, the AAA says, bringing hopes of relief at the pump just as the summer driving season picks up.
CNBC's Sharon Epperson looks at the latest report on US gasoline supplies from the Energy Department and the impact it could have on oil and gasoline prices in the days ahead.