Shares of the company were halted over eight times on Monday amid earlier claims that Chesapeake had hired restructuring attorneys.» Read More
Seth Kleinman, head of energy strategy at Citi, says Iran is a bearish risk to the oil market, but it depends on how much it produces.
Boarding a flight out of Hong Kong just got cheaper, after the city scrapped an old fuel surcharge on Monday.
*China posts weakest manufacturing data since 2012. *OPEC output hits multi-year high of 32.6 mln bpd. SINGAPORE, Feb 1- Oil prices dropped on Monday after China and South Korea posted surprisingly weak economic data, while fading prospects for a coordinated production cut by leading crude exporters also dragged on the market.
Timothy Ross from Credit Suisse, explains that the biggest beneficiary of airlines being in an environment of cheaper oil is the consumer.
CNBC's Dan Murphy reports on which airlines have done away with their fuel surcharges, amid an environment of record low oil prices.
Airlines' yields have been the lowest in the past ten years, says Mohshin Aziz, aviation analyst at Maybank Investment Bank.
*China posts weakest manufacturing data since 2012. *OPEC output hits multi-year high of 32.6 mln bpd. SINGAPORE, Feb 1- Oil prices dropped early on Monday after China and South Korea posted surprisingly weak economic data and on worries the prospect of a coordinated production cut by leading crude exporters seemed remote.
U.S. crude closed nearly 6 percent as weak economic data from China and an OPEC source undermined chances of an emergency meeting to stem the decline.
*OPEC output hits multi-year high of 32.60 million bpd. SINGAPORE, Feb 1- Oil prices fell in early trading on Monday after South Korea posted its weakest export data since 2009 and the prospect of a coordinated production cut by leading crude exporters seemed remote. Also, OPEC- member Iran, which this month was allowed to fully return to markets after years of...
Daniel Hynes, senior commodity strategist at ANZ, explains that talk about OPEC production cuts drove the spread between Nymex and Brent wider, but it won't last at these levels.
Every month that oil stays below $80 a barrel, Saudi Arabia loses money. CNBC estimates when the kingdom may run out of money.
Saudi Arabia wants to cooperate with other oil producers to support the market, Al Arabiya reported, citing an unnamed Saudi source.
The technician who predicted the January swoon in stocks sees a long bearish road ahead for crude.
CNBC's Seema Mody reports on energy stocks on the move.
CNBC's Jackie DeAngelis looks ahead to market events that could move oil prices next week.
While many blamed the push in oil prices on speculators a few years ago, this broker explains why it's different in a low-price environment.
CARACAS, Jan 29- Venezuelan Oil Minister Eulogio Del Pino will visit Russia, Qatar, Iran and Saudi Arabia on a tour beginning on Saturday of OPEC and non- OPEC countries intended to drum up support for action to stem the tumble in crude prices. "These are four key countries we'll be meeting as part of the formal proposal Venezuela made to OPEC and non- OPEC countries,"...
Money managers, including hedge funds and other big speculators, raised their combined futures and options position in New York and London by 15,717 contracts to 68,053 in the week to Jan. 26, the U.S. Commodity Futures Trading Commission said. "It looked as if up to last Tuesday, you had a big influx of money-manager longs- that would explain why up until Tuesday last...
Energy broker Brad Schaeffer of OTC Global Holdings, discusses the outlook for oil prices and production.
CNBC's Michelle Caruso-Cabrera looks ahead to what are likely to be next week's top business and financial stories.