Dennis Gartman, founder, editor and publisher of The Gartman Letter, says that if he was forced to take a position he’d rather be a buyer than a seller of oil and oil stocks.» Read More
SINGAPORE, Aug 31- Oil prices fell in Asia on Monday as traders took profits, snapping gains last week that saw the biggest two-day rally in six years. "There is definitely a lot of profit taking going on," said Daniel Ang, an analyst at Singapore's Phillip Futures. Brent fell 98 cents to $49.07 per barrel as 0329 GMT after rising $2.49, or 5 percent, in the previous session.
SINGAPORE, Aug 31- Oil prices fell in Asia on Monday as traders took profits, snapping three days of gains last week that saw the biggest two-day rally in six years. "There is definitely a lot of profit taking going on," said Daniel Ang, an analyst at Singapore's Phillip Futures. Brent crude futures for October delivery fell 86 cents, or 1.7 percent, to $49.19 per barrel as...
*Some 31 U.S. senators have pledged to support the nuclear deal with Iran ahead of a Congressional vote by Sept. 17, moving President Barack Obama a step closer to having sufficient backing to ensure the deal stands. *Libya's National Oil Company and Central Bank chairmen met 26 oil majors including BP and ExxonMobil at meetings in London last week in a renewed...
Berkshire Hathaway disclosed a $4.48 billion stake in oil refiner Phillips 66, rebuilding a bet it had made in the energy industry before oil prices fell.
The lows in oil will likely be coming in September or October, and then there will be a different dynamic, John Hofmeister said.
The Fast Money traders debate buying signs in energy as oil surges higher.
John Hofmeister, former president of Shell Oil, explains his outlook on energy and forecasts crude going up to $80.
CNBC's Mandy Drury looks ahead to what are likely to be next week's top business and financial stories.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets and looks ahead at where oil and precious metals are likely headed next week.
Will the rally fade? Helima Croft, RBC Capital Markets, analyzes the movement in oil and predicts where oil will be at the end of the year.
NEW YORK— Oil prices surged again Friday, a day after recording their biggest gain in more than six years. U.S. crude rose 6.3 percent to finish at $45.22 per barrel after climbing 10.3 percent on Thursday. The price of U.S. oil averaged more than $90 a barrel from 2011 through 2014. On Monday, U.S. crude closed below $40 a barrel for the first time since February 2009.
CNBC's Jackie DeAngelis reports on the oil market continuing its upward trajectory.
*Refinery outages, Yemen tensions and storm watch fuel gains. NEW YORK, Aug 28- U.S. crude jumped as much as 7 percent on Friday as a rally in gasoline prices from refinery outages and concern about strife in Yemen prompted traders to scramble for a second day to cover short positions. U.S. crude's front-month was up $2.25, or 5.3 percent, at $44.81 a barrel by 1:46 p.m....
CNBC's Jackie DeAngelis reports on factors moving the price of oil higher.
Fredrik Nerbrand, head of global asset allocation at HSBC, discusses stock markets and oil's rally.
As oil slumps back into the red, after a 10 percent surge on Thursday, analysts suggest this isn't the time to get positive on the sector.
CNBC's Jackie DeAngelis reports traders are watching the rig count as WTI and Brent prices appear to move along with equities.
LONDON, Aug 28- Front-month Brent crude futures surged more than 10 percent higher yesterday, one of the largest daily percentage movements on record, as traders raced to cover short positions. U.S. crude futures rose almost as much, with the October contract ending the day up by more than 9 percent. Since mid-June, hedge funds have accumulated one of the biggest...
CNBC's Dominic Chu tracks the markets extraordinary moves this week as oil prices rally and the Dow and Nasdaq close out of correction.
We haven't seen all of the downside yet, says Kevin Book, Clearview Energy Partners, weighing in on crude's rebound and providing his outlook on oil.