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Energy Commodities Oil

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  • SINGAPORE, July 31- Oil prices fell in Asian trade on Friday as concern over global oversupply intensified after the head of oil producers' cartel OPEC indicated there would be no cut-back in production, although a fall in the U.S. dollar put a floor under prices. Badri added that even if OPEC had cut output by as much as 2 million barrels per day, it would not have...

  • *U.S. crude for September delivery slipped 2 cents to $48.50 a barrel as of 0038 GMT, after ending the previous session down 27 cents. *Brent crude oil for September delivery rose 12 cents to $53.43 after settling 27 cents lower in the previous session. *Russia's oil-for-goods barter deal with Iran, estimated to be worth $70 billion, is still in place, Russian Energy...

  • NEW YORK, July 30- Crude futures settled down on Thursday, pressured by a rally in the dollar which countered bullish sentiment from a drawdown in U.S. stockpiles that was much steeper than expected. Global benchmark Brent neared a six-month trough earlier this week and U.S. futures neared four-month lows, pressured by a global glut, a resurgent dollar and China's...

  • NEW YORK, July 30- Crude futures erased early gains on Thursday after bullish sentiment from a drawdown in U.S. stockpiles was checked by a rally in the dollar. 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...

  • When oil down, so are stocks

    Discussing the correlation between oil prices and the stock market, with Jack Ablin, BMO Private Bank.

  • Reasons to care about the price of oil

    Energy companies are announcing either job cuts or spending cuts. CNBC's Brian Sullivan reports on the impact of oil price on stocks.

  • Shell's profits plunge 15 Hours Ago
    Shell's profits plunge

    Shell posts a sharp drop in profit; expects a prolonged downturn in oil prices.

  • 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...

  • Nat gas inventories supply in good shape

    CNBC's Jackie DeAngelis reports weekly natural gas inventories showed an injection of 52 bcf in line with expectations.

  • *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.

  • Oil optimism washed away by glut?

    Dan Yergin, IHS chairman provides his outlook on the oil space as concerns surface over demand and market share.

  • The oil price fall helped airline, Deutsche Lufthansa AG post better-than-expected Q2 earnings, in spite of the Germanwings crash and labor disputes.

  • Pump jacks and wells are seen in an oil field on the Monterey Shale formation, March 23, 2014, near McKittrick, Calif.

    By Christmas, oil will be rebounding off the mid to lows $30s, John Kilduff told CNBC.

  • 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.