President Obama is mandating even steeper greenhouse gas cuts from U.S. power plants than expected, here are the winners and losers.» Read More
*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...
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...
CNBC's Jackie DeAngelis reports the pain for big oil.
*Oil weighed by bearish Reuters July survey on OPEC oil. NEW YORK, July 31- Oil prices fell on Friday, with U.S. crude 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's losses came on the back of a stock market tumble in top...
The Fast Money Halftime Report traders discuss how to play the oil space.
Chevron misses big with Q2 earnings; posts its worst profit in almost 13 years.
Lower oil prices take a toll on Exxon Mobil's Q2 earnings.
The oil price could be stuck firmly around $50 by 2020, a Goldman Sachs analyst told CNBC, raising new fears about companies who've already cut costs.
*OPEC oil production up 140,000 bpd in July- Reuters survey. LONDON, July 31- Oil prices steadied on Friday as a sharp fall in the dollar balanced evidence of growing oversupply, with core OPEC producers pumping near record levels. Brent crude oil was down 25 cents at $53.06 a barrel by 1350 GMT.
down 2.2 pct at $81.20 premarket. **Profit at Exxon's exploration and production business drops to $2 bln from $7.9 bln a year earlier. **Q2 profit slides 52 pct to $1.00/ share vs analysts' average estimate of $1.11/ share.
July 31- Imperial Oil Ltd, Canada's No.2 integrated oil producer and refiner, reported a lower-than-expected quarterly profit, hurt by the slump in crude prices. Imperial, majority owned by Exxon Mobil Corp, said on Friday that its capital expenditure fell about 41 percent to C $819 million in the second quarter. Excluding a C $320 million charge related to an...