CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.» Read More
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil bounced around before it fell below $60 near the close. There's simply too much oil on the market and too little demand. And OPEC isn't going to cut production any time soon.
Oil has spooked investors, a pro said: "With everything in energy and the oil price collapsing as it is, who is going to step in and be a buyer now?"
Norway's central bank cut interest rates to prop up an economy ailing from falling offshore investments, lower oil prices and weak growth in Europe.
John De Clue, Chief Investment Officer, The Private Client Reserve at the U.S. Bank Wealth Management, outlines factors that will serve as "powerful underpinnings" for Wall Street next year.
US crude settled down 99 cents, or 1.6 percent lower, at $59.95 per barrel, its lowest close since July 14, 2009.
The price of oil will normalize around $60 as China's economy cools down to digest overinvestment, economist Andy Xie said.
It's not a flock of black swans that Laszlo Birinyi foresees, as he expects stocks to digest the oil decline and move higher.
Oil at $60 will mean restructuring for some U.S. shale producers, a Deutsche Bank analyst said. But will it become a bigger problem?
As 2014's trading days dwindle, some traders are turning toward small cap stocks in hopes of boosting their portfolio returns.
Lower oil prices will be a net positive for S&P earnings, and the energy sector could do well in 2015, Tom Lee said.
Surging U.S. crude supplies, and OPEC's forecast of sharply lower demand for its output drove oil futures sharply lower, raising the stakes for $50 a barrel oil.
Solar stocks have been dropping on fears that cheap oil will kill demand for renewables. But oil has no impact on solar.
Some argue that lifting the oil-export ban would help the US economy but here's the problem, says political consultant Stephen Myrow.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil was down again today, as the commodity free fall continues. OPEC cut its 2015 demand projection and the Saudis ask why they should cut production.
Oil prices sank to session lows on Wednesday after data showed U.S. commercial crude inventories climbed by 1.5 million barrels last week.
Market pros weigh in on where stocks may be headed next after they took a tumble on Wednesday.
An economist who correctly predicted the fall in oil price this year has told CNBC that the U.S. government could look to bail out its energy sector.
The Energy Department again slashed its prediction for next year's average price of gasoline across the U.S., this time to $2.60 a gallon.
Hedge funds that invest in energy think the price of oil will continue to fall but some still see opportunity in related companies.
The global oil glut is expected to get much bigger before it's over, keeping pressure on oil prices well into next year.