John Kilduff, Again Capital partner, shares several bearish factors that could impact the price of crude, including OPEC and Russia's involvement with Syria.» Read More
*S&P 500 companies are expected to report a 4.2 percent fall in third-quarter profit, the biggest decline in six years, according to Thomson Reuters data. *Yum Brands slumped 16.3 percent to $69.79 after it cut its full-year profit forecast due to a slower-than-expected recovery in China and a strong dollar. *McDonald's, which is also facing issues in China, fell...
*Brent closes above $50 a barrel for first time in a month. Benchmark Brent crude has dropped to around $50 from a high above $115 a barrel in June 2014 and many oil companies are losing money with oil prices at current levels. Brent was up 40 cents a barrel at $52.32 by 0755 GMT, having jumped as much as $3 on Tuesday to close above $50 for the first time in a month.
Finding the bottom in the oil market is just speculation at this point, says Sandy Lincoln, chief market strategist at BMO Asset Management U.S.
*Brent closed Tues above $50 for first time in a month. Oil prices jumped more than $2 a barrel in the previous session with the global benchmark, Brent crude, closing above $50 a barrel for the first time in a month. The contract had risen 41 cents to $52.33 a barrel by 0348 GMT, after settling up $2.67, or 5.4 percent on Tuesday.
Oil rose after data showed the U.S. market was beginning to tighten, with falling supply and lower inventories after two years of surplus.
TOKYO, Oct 7- Crude oil futures rose further in thin Asian trade on Wednesday after breaking out of a month-long trading range on a forecast suggesting a global glut in supply may be easing. The contract rose 40 cents to $52.32 a barrel by 0110 GMT, after settling up $2.67, or 5.4 percent on Tuesday. Global oil demand is expected to increase by the most in six years as...
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.
Oct 6- S&P Dow Jones Indices:. *WTI crude oil will have highest weighting on S&P GSCI for 2016, overtaking Brent crude oil. *Final 2016 S&P GSCI Rebalance will be published in early November and implemented in January 2016.
CNBC's Jackie DeAngelis covers what's moving oil prices after crude settled nearly 5 percent higher.
Oppenheimer Managing Director Andrew Burkly, and Richard Ross, Evercore ISI managing head of technical analysis, discuss the recent rally in commodities.
*Russia, Saudi to keep consulting on oil market- minister. *OPEC, non- OPEC should work jointly against oversupply- Badri. NEW YORK, Oct 6- Crude prices hit one-month highs on Tuesday after a new U.S. forecast showed tighter oil supplies next year, while and Russia, Saudi Arabia and other big producers hinted at further talks to support the market.
NEW YORK, Oct 6- Crude prices jumped more than 4 percent on Tuesday after the United States cut output forecasts, while global equity markets mostly rose on expectations the Federal Reserve will not raise interest rates this year. Helping crude was news that Russia and Saudi Arabia had met last week and discussed the oil market, and planned to continue exchanging...
*Russia, Saudi to keep consulting on oil market- minister. *OPEC, non- OPEC should work jointly against oversupply- Badri. NEW YORK, Oct 6- Crude prices jumped about 5 percent on Tuesday after No. 1 oil consumer the United States cut global output forecasts and Russia, Saudi Arabia and other big producers signaled joint action to support the market.
Jeff Currie, global head of commodities research at Goldman Sachs, says the risk of crude oil reaching $20 a barrel is driven by “breaching storage capacity.”
Helima Croft, global head of commodity strategy at RBC Capital Markets, discusses how China tapering its oil demand in 2016 could trouble the oil market in the future.
*OPEC, non- OPEC should work jointly against oversupply- Badri. NEW YORK, Oct 6- Crude prices jumped about 4 percent on Tuesday after No. 1 oil consumer the United States cut output forecasts and Russia, Saudi Arabia and other big producers signaled joint action to support the market. "We have reduced the probability of a return to the $37- 38 area per nearby WTI," said Jim...
Oil industry leaders have dismissed talk of the price of crude hitting the $20 lows predicted by analysts.
The company had about 7,260 employees as of Dec. 31, 2014, according to a filing in March.
OPEC Secretary General Abdalla El-Badri, discusses the relationship OPEC members have with one another,and how they cooperate with other countries like Russia.
OPEC Secretary General Abdalla El-Badri says Iran has a great reserve of oil and has great potential in the oil market