President Obama unveiled his plan to tackle climate change by reducing greenhouse gas emissions.» Read More
NEW YORK, Aug 3- Oil futures prices sank to a six-month low on Monday, weighed by oversupply and weaker demand expectations, while equity markets in Asia and on Wall Street fell as factory data from China and the United States disappointed. Brent slumped to its lowest since late January on worries about oversupply as OPEC pumped at record levels in July, adding to...
Benchmark U.S. crude fell $1.95, or 4.1 percent, to close at $45.17 a barrel in New York. U.S. crude has been declining since reaching a high this year of $61.43 a barrel on June 10. Brent crude, a benchmark for international oils used by many U.S. refineries, was declined $2.69, or 5.2 percent, to $49.52 a barrel in London.
The "Halftime Report" traders discuss the markets at session lows as the second half of the trading day kicked off.
What people have to look at is supply, says Tom Kloza, Oil Price Information Service, sharing his outlook on crude as oil hits a 6-month low.
*Oversupply worries, weak US, China data hurt market. NEW YORK, Aug 3- Oil sank to six-month lows on Monday with Brent crude falling below $50 a barrel on sluggish U.S. and Chinese economic data and bets for weaker gasoline consumption in the United States after tearaway demand earlier in the summer. Evidence of growing global oversupply and a stock market collapse...
President Obama is mandating even steeper greenhouse gas cuts from U.S. power plants than expected, here are the winners and losers.
Puerto Rico, already hobbled by debt, is weighed down by outdated infrastructure that has increased the cost of doing business on the island.
*Tyson Foods falls after profit forecast cut. Aug 3- Wall Street was lower on the first trading day in August as oil prices touched a six-month low and data showed U.S. economy lost some momentum at the end of the second quarter. Energy stocks were the biggest losers among the main S&P sectors, with Exxon Mobil and Chevron leading the losers.
LONDON, Aug 3- Commodities prices slumped again on Monday with some hitting multi-year lows on worries about a glut of supply facing weak demand in China, after factory activity in the world's top consumer of raw materials shrank more than expected last month. On the energy markets, Brent crude oil touched a low of $50.85 a barrel, its weakest since Jan. 30, after...
WTI and Brent closed in on their lowest price levels for the year with analysts highlighting a raft of reasons for the fall.
Miswin Mahesh, oil analyst at Barclays, explains why the oil price will be a "catalyst" to tighten market balances in 2016.
With most commodities priced in U.S. dollars, the strength of the greenback, and the slowdown in China is leading a rout in commodity markets. "If Saudi Arabia and Iraq keep running full tilt and Libya and Iran get their oil production back on track, crude prices could languish below $60 for the next three years," said Morgan Stanley analyst, Martijn Rats in a research...
Oil fell to its lowest in six months, knocked by fresh evidence of growing oversupply and data highlighting slowing demand in China.
SEOUL, Aug 3- U.S. crude futures slipped on Monday in Asian trading as unexpectedly slow Chinese factory growth in July raised demand concerns, while oil markets were also weighed down by OPEC's record monthly output. *U.S. crude fell 29 cents to $46.83 a barrel as of 0005 GMT after settling down $1.40, or almost 3 percent, at $47.12 a barrel on the previous session.
QUITO, July 31- Ecuador's state oil company Petroecuador has signed a crude oil supply agreement with a division of Thailand's state-run PTT under which the Andean country will receive a $2.5 billion up-front payment, according to a statement from the company. Petroecuador International Trade Manager Nilsen Arias confirmed the deal to Ecuador's El...
CNBC's Dominic Chu looks ahead to what are likely to be next week's top business and financial stories.
Chevron earnings fell well below expectations Friday, raising new questions about shareholder returns at a time when oil prices are sliding again.
Baker Hughes announced an increase in the U.S. oil rig count. Steven Kopits, Princeton Energy Advisors, shares his bull case for oil.
*Oil hit by bearish Reuters July survey on OPEC oil. *5 rigs added this week to U.S. oil rig count- Baker Hughes. NEW YORK, July 31- Oil prices fell on Friday, with U.S. crude looking set to post the largest monthly drop since the 2008 financial crisis after signs that top producers in the Middle East were continuing to pump at record levels despite a growing global gut.
July 31- Weak oil prices shriveled quarterly profit at Exxon Mobil Corp and Chevron Corp on Friday, compelling both companies to rethink operations and plan for what many expect to be a sustained period of cheap crude. Evan Calio, an analyst with Morgan Stanley, said on Exxon's earnings conference call that the oil giant appeared to be less vocal than its peers...