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Energy Commodities Oil

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  • Oil has lost more than $10 a barrel over the past month, with global benchmark Brent nearing a six-month trough earlier this week and U.S. futures near four-month lows, amid a global glut, resurgent dollar and recent stock market tumble in China. Brent was up 50 cents, or 1 percent, at $53.88 a barrel by 10:27 a.m. EDT, extending its slight rise in the previous session.

  • MOSCOW— OPEC and Russia say they expect the global oil market to become more balanced and stable next year after the recent sharp drops. OPEC decided in June not to cut production, in a bid to retain its share of the global market in the face of a boom in shale oil production in the U.S. Russia, which is not part of OPEC but is the world's top crude producer and depends...

  • *ABN AMRO cuts 2016 crude price forecasts. U.S. crude stockpiles fell by 4.2 million barrels in the week to July 24, more than 20 times analysts' expectations of a decrease of 184,000 barrels, Energy Information Administration data showed on Wednesday. Brent crude was up 20 cents a barrel at $53.58 by 1345 GMT, after settling 8 cents higher in the previous session.

  • MILAN— Italian oil and gas company Eni on Thursday reported second-quarter losses of 113 million euros amid a sharp decline in oil prices, but raised its forecasts on production this year as new fields come on line. Eni increased its full-year guidance to 7 percent growth in production, up from 5 percent, with new fields starting or ramping up in Venezuela, Angola,...

  • Oil at mid-to-low $30s by Christmas: Kilduff

    John Kilduff, Again Capital Parnters, provides analysis on oil prices, China demand, production and the looming glut in diesel fuel.

  • *ABN AMRO cuts 2016 crude price forecasts. Benchmark Brent crude was up 80 cents a barrel at $54.18 by 1025 GMT, after settling 8 cents higher in the previous session. U.S. crude rose 30 cents to $49.09, after ending the previous session up 81 cents, or 1.7 percent.

  • LONDON— Royal Dutch Shell announced deep cuts to jobs and investment on Thursday as the global energy giant prepares for a prolonged period of low oil prices. Brent crude, a benchmark for North Sea oil, averaged about $62 a barrel during the period, down from $110 in the second quarter of 2014.. Shell plans to bolster earnings through the $70 billion acquisition of...

  • "Prices are at unsustainable lows after an exaggerated selloff," said Carsten Fritsch, analyst at Commerzbank in Frankfurt. Benchmark Brent hit a low of $52.28 a barrel on Tuesday, its cheapest since Feb. 2 as an oversupply of crude and the rising dollar combined with worries over China, the world's biggest energy consumer. The Reuters survey forecast Brent would...

  • *ABN AMRO cuts 2016 crude price forecasts. Benchmark Brent crude oil was up 30 cents a barrel at $53.68 by 0805 GMT, after settling 8 cents higher in the previous session. "Oil is consolidating," said Carsten Fritsch, senior oil analyst at Commerzbank.

  • By Ron Bousso and Karolin Schaps. LONDON, July 30- Royal Dutch Shell is to axe 6,500 jobs this year and step up spending cuts to deal with an extended period of lower oil prices which contributed to a 37 percent drop in the oil and gas group's second-quarter profits. The Anglo-Dutch company also said it was planning more asset disposals as it pushes ahead with its...

  • Expect 'pretty good results' from Shell: Pro

    Dan Scott, vice president, investment strategy & research at Credit Suisse, says Shell's downstream business will continue to insulate the company from the slide in its upstream business.

  • LONDON, July 30- Royal Dutch Shell on Thursday reported a 37 percent drop in second quarter profits and said it would cut 6,500 jobs this year and reduce spending further to deal with an extended period of lower oil prices. The Anglo-Dutch oil and gas company also said it was planning more asset disposals alongside its proposed $70 billion acquisition of BG Group,...

  • Workers from Select Energy Services at a Hess fracking site near Williston, N.D.

    U.S. oil prices steadied Thursday after a larger-than-expected draw in U.S. crude and gasoline stocks was balanced by a stronger dollar.

  • *U.S. crude for September delivery climbed 8 cents to $48.87 a barrel as of 0008 GMT, after ending the previous session up 81 cents, or 1.7 percent. U.S. crude oil stocks fell by 4.2 million barrels to 459.68 million in the week to July 24, more than twenty times analysts' expectations for a decrease of 184,000, data from the Energy Information Administration showed on...

  • Earlier this week, U.S. crude prices hit four-month lows and Brent, the more important global benchmark, neared a six-month trough as a global oil glut, resurgent dollar and stock market tumble in top energy consumer China took a toll. "I see a rebound of about five bucks off the recent lows in the most likely scenario," said Chris Jarvis at Caprock Risk Management, an...

  • Commodities tomorrow: Can crude's pop continue?

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.

  • *Crude futures rise $1 before ending off highs on strong dollar. NEW YORK, July 29- Oil settled higher on Wednesday, recovering from multi-month lows, after U.S. government data showed a surprisingly large crude stockpile draw that signaled the market may have been wrong in predicting slumping demand for energy. Crude futures lost more than $10 a barrel over the...

  • An oil slick down 22 Hours Ago
    An oil slick down

    CNBC's Jackie DeAngelis reports oil prices settled higher after a bullish inventory report.

  • Downside risk to $1050 gold target: Goldman's Currie Wednesday, 29 Jul 2015 | 12:39 PM ET
    Downside risk to $1050 gold target: Goldman's Currie

    Jeff Currie, Goldman Sachs global head of commodities research, discusses high yield in the energy sector.

  • $45 WTI oil prediction: Goldman's Currie Wednesday, 29 Jul 2015 | 12:30 PM ET
    $45 WTI oil prediction: Goldman's Currie

    Jeff Currie, Goldman Sachs global head of commodities research, gives an oil outlook and gives perspective to Goldmans' cautious outlook on oil.