NEW YORK, Dec 1- A long-sought deal to bring a Caribbean oil refinery out of bankruptcy emerged on Tuesday, unexpectedly including a partnership with U.S. commodity trader Freepoint and handing Asia's biggest oil refiner, Sinopec, access to a huge oil storage facility. U.S. private equity firm ArcLight Capital, together with Freepoint, unveiled plans on Tuesday...» Read More
June 11- Oil and natural gas producer Hess Corp said it will sell half of its Bakken midstream assets to Global Infrastructure Partners for $2.68 billion. The joint venture, valued at $5.35 billion, plans to file for an initial public offering, upon closing of the transaction, Hess said on Thursday. Hess said in July it plans to form a publicly traded master limited...
NEW YORK, June 10- Oil rallied for a second straight day on Wednesday as U.S. government data confirmed a big weekly drawdown in domestic crude stockpiles, although profit-taking by players who had bet on the draw pulled the market back from its highs. By 11:50 a.m. EST, global crude benchmark Brent was up 20 cents, or 0.3 percent, at $65.08 a barrel, from the session...
*OPEC oil production likely to continue to exceed demand. "A 4-6 percent drop is acceptable for refinery maintenance season in China, but 20 percent or more is a sign of demand collapse," said Bob Yawger, director of energy futures at Mizuho Securities USA. Phil Flynn, an analyst at Chicago- based Price Futures Group, said a continuous slump in Chinese demand could be a "...
BEIJING, June 8- China's oil imports fell about 11 percent in May from a year ago in the steepest drop since November 2013, likely knocking the country off its perch as the world's top crude buyer- a spot it claimed for the first time in April. Lower imports by China, at a time when markets are expected to be oversupplied following OPEC's decision to keep its output...
Michael Yoshikami, founder & CEO of Destination Wealth Management, expects oil that was previously kept in storage to hit the market over the next 45-90 days thereby keeping prices low.
U.S. oil inventory and capex falls may boost prices modestly near term, but production growth is still too strong for substantial gains, Goldman said.
Alan Knuckman, chief options strategist at Bulls-Eye Options, talks about the upcoming Federal Reserve meeting, the strong dollar and the gold market.
Edward Morse, Citi commodities research, discusses what's driving oil price lower as the commodity wanders further into bear territory.
The Canadian government unveiled tougher new proposed oil tank car standards.
Goldman Sachs President Gary Cohn tells CNBC he is concerned about the short-term window for oil and said crude prices could fall to $30 a barrel.
Saudi Arabia's oil minister said he expected oil prices, which hit a near six-year low in January, to stabilize, signalling cautious optimism.
Oil supply running ahead of demand hasn't just pressured prices, it's also filling up storage space, potentially pushing crude toward another leg down.
The sharp drop in U.S. oil rig counts has helped lift crude prices off their lows, but it won't slow production or alleviate oversupply, Goldman said.
The International Energy Agency (IEA) has released a warning saying that the oil prices may continue to fall, as crude oil stocks increase. Maria van der Hoeven, executive director at IEA, discusses the findings, saying that the "future market will never be the same" as before.
Has the oil price finally hit a bottom? Dennis Gartman, founder and editor of the Gartman Letter, explains why it could fall to as low as $20 per barrel.
Oil prices have rallied off post-crisis lows, possibly marking the rout's bottom as producers' cutbacks begin pinching supply, some analysts said.
A global oversupply in oil and lack of storage make it very likely that oil will slide into the $30s, Citi's Ed Morse told CNBC.
Hedge fund buying may be partly behind the recent rebound in battered oil prices, former Shell Oil President John Hofmeister tells CNBC.
Oil prices are in the midst of a prolonged slump, squeezing bottom lines everywhere. How do sovereign wealth funds cope?
Some of the world's biggest oil traders have booked supertankers to store at least 25 million barrels at sea, to take advantage of lower prices.