Why oil prices rallied higher this week, with Helima Croft, RBC Capital Markets.» Read More
Glencore cuts its debt by suspending its dividend among other strategies, and Chevron is reportedly cutting some 10 percent of its global supply and trading group. CNBC's Kate Kelly has the details.
WTI crude prices remain choppy, but up 9 percent this week, and up 29 percent since its August low, with CNBC's Jackie DeAngelis.
*U.S. rig count down for 6th week- Baker Hughes. U.S. crude closed up 20 cents at $49.63, the highest settle since late July, while Brent crude ended 40 cents down at $52.65 on Friday. Drillers removed nine oil rigs in the week ended Oct. 9, bringing the total rig count down to 605, oil services company Baker Hughes Inc said in its closely followed report.
Jackie DeAngelis, CNBC, reports on oil's close, live from the floor of the NYMEX.
*U.S. rig count down for 6th week- Baker Hughes. Brent crude, the global benchmark, was down 43 cents at $52.62 a barrel at 1:49 p.m. ET, during a volatile session that saw the contract touch an intraday high of $54.05. Drillers removed nine oil rigs in the week ended Oct. 9, bringing the total rig count down to 605, oil services company Baker Hughes Inc said in its closely...
Ted Izatt, Chief Strategy Officer, SDKA International, says this is the biggest investment opportunity of our time in the oil markets. He explains why.
William Baruch, iiTRADER, discusses where he believes oil is likely headed from here.
The Dow rallies back above 17,000 and oil is on track for its best week since August. There's even been a turnaround in the emerging markets. CNBC's Mary Thompson and Jackie DeAngelis discuss.
*Zinc soars on Glencore output cut. NEW YORK, Oct 9- Major world stock markets were poised for their biggest weekly advance since 2011 on Friday, as greater investor appetite for riskier assets propelled gains in equities and a surge in commodities and crude oil prices. Declines in the dollar, a bullish oil forecast and giant miner Glencore's pledge Friday to slash...
Oil prices crossed the $50 mark per barrel, but the commodity's future growth all comes down to this one thing, says Steve Kopits.
WASHINGTON— Defying a White House veto threat, the Republican-controlled House on Friday approved a bill to lift a 40- year-old U.S. ban on crude oil exports. Lifting the export ban also would strengthen national security and weaken economic and political rivals such as Russia, Iran and Venezuela, supporters said. The measure includes a Republican-sponsored...
LOUISVILLE, Ky.— 2 missing boys found alive after search in rugged terrain of Kentucky's Red River Gorge area.
OIL DRILLERS CUT RIGS FOR A 6 TH WEEK IN A ROW DESPITE RISING CRUDE PRICES- BAKER HUGHES.
*Baker Hughes rig count due later on Friday. There is also a partial holiday in the U.S. on Monday, " Commerzbank analyst Carsten Fritsch said, referring to the U.S. Brent crude, the global benchmark, was down 18 cents at $52.87 a barrel at 11:48 a.m. EDT, during a volatile session that saw the contract touch an intraday high of $54.05.
CNBC contributor John Kilduff, Again Capital, weighs in on the oil space.
*Baker Hughes rig count due later on Friday. Brent crude, the global benchmark, was down 57 cents at $52.48 a barrel at 1427 GMT, during a volatile session that saw the contract reach an intraday high of $54.05. U.S. crude was up 12 cents at $49.55 a barrel, off a two-month high of $50.92 reached earlier in the session.
U.S. regulators said a February oil train derailment in West Virginia was caused by a rail defect that CSX and its contractor missed during two inspections.
Castrol achieved a breakthrough in engine-lubrication design that makes it easy to change the oil in a vehicle in as little as 90 seconds,
LONDON, Oct 9- Timespreads for West Texas Intermediate and Brent futures have strengthened significantly over the last month as fears about another big build up in crude oil stocks eased. The discount for WTI delivered in November 2015 rather than May 2016 has shrunk from $3.33 per barrel to $2.75 since Sept. 14. The discount for Brent has narrowed even more, from...
Lower oil prices and a fall in the value of the euro will boost the European Union's (EU) economy.