Nymex oil may have a prolonged sideways consolidation between $38 and $48 but charts suggest that, long-term, it has further to fall.» Read More
Regardless of whether a massive global oil storage trade is rapidly unwound, world oil production has been rising much faster than consumption, feeding an unprecedented global glut on the back of booming U.S. oil output and a Saudi-led decision by OPEC to maintain high output to defend market share. Analysts from Citi said on Tuesday that given OPEC was widely...
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.
The oil price is nearing a 6-year low. Richard Mallinson, geopolitical analyst at Energy Aspects, says markets are looking for "a turning point" in oil production and it will end up being non-OPEC countries that cut supplies.
Gareth Lewis-Davies, senior oil strategist at BNP Paribas, says that China is building up a strategic stock of oil, and that low prices provide a "good opportunity to dip into the market and accelerate purchases."
A twist of fate has made slumping gas prices fuel a discussion once thought to be anathema in a Republican-led Congress: higher gas taxes.