CNBC's Jackie DeAngelis reports natural gas inventories.» Read More
CRUDE FUTURES EXTEND GAINS TO MORE THAN $1 IN POST-SETTLEMENT TRADE, BRENT ALSO UP MORE THAN $1.
Pavel Molchanov, Raymond James, and Lloyd Byrne, Nomura, look at what's causing the extreme swings in the oil market.
NEW YORK, Sept 2- Oil prices turned higher on Wednesday in volatile trading as rallying equities on Wall Street pulled crude up from lows after futures sank on concerns about global oversupply. "Looks like risk-on trade with a rising tide lifting all boats," John Kilduff, partner at Again Capital LLC in New York, said. Brent October crude was up 14 cents at $49.70 a...
NEW YORK, Sept 2- Brent and U.S. crude futures turned higher on Wednesday in volatile trading, lifted as U.S. equities markets rallied more than 1 percent. Brent October crude was up 17 cents at $49.73 a barrel at 1:33 p.m. EDT, having swung from $47.74 to $50.79. October crude CLc1 was up 30 cents at $45.71, having traded from $43.21 to $46.32.
Saudi Arabia will try to jockey the oil market with comments about cutting production once crude prices fall below $44, Phillip Streible said.
NEW YORK, Sept 2- Oil prices fell a second day on Wednesday after government data showing U.S. crude stockpiles rose last week added to concerns about global oversupply and sluggish economic growth in China. Brent October crude was down $1.60 at $47.96 a barrel at 12:19 p.m. EDT, having swung from $47.74 to $50.79. October crude was down $1.95 at $43.46, having...
LONDON, Sept 2- Oil prices fell on Wednesday after U.S. government data showed a big rise in crude oil stocks, adding to concerns about global oversupply and sluggish economic growth in China. U.S. crude oil stocks rose by 4.67 million barrels to 455.43 million barrels in the week to Aug. 28, the Energy Information Administration said on Wednesday.
CRUDE FUTURES BRIEFLY EXTEND LOSSES TO $2 ON NEWS SHELL NIGERIA LIFTS FORCE MAJEURE ON BONNY LIGHT CRUDE.
A type of high-intensity hydraulic fracturing is spreading through the American oil patch, boosting productivity for U.S. drillers.
NEW YORK, Sept 2- U.S. crude oil stockpiles rose unexpectedly last week as refinery throughput fell for a fourth week and imports jumped, while gasoline stocks fell, data from the Energy Information Administration showed on Wednesday. October crude was down $1.22 at $44.19 a barrel at 11:05 a.m. EDT, having swung from $43.71 to $46.32. Brent October crude was down...
U.S. crude oil inventories are up 4.7 million barrels. Phillip Streible, RJO Futures, thinks oil prices will remain under pressure.
CRUDE FUTURES EXTEND LOSSES ON DATA SHOWING U.S.
CNBC's Jackie DeAngelis reports crude prices are turning negative, after a 4.7 million barrel build.
Cheaper gas prices may have attracted more travelers this Labor Day, saving American drivers billions in the process.
LONDON, Sept 2- Oil prices steadied on Wednesday as rising demand for gasoline and stronger U.S. equities balanced concerns about the global economy and oversupply. "Gasoline started to move into the green and it is taking the rest of the complex higher," Petromatrix analyst Olivier Jakob said. Brent crude for October was up 40 cents at $49.96 a barrel by 1415 GMT.
CNBC's Jackie DeAngelis reports on the rebound in oil prices ahead of Wednesday morning's data from the Department of Energy.
Roger Diwan, IHS Financial Services vp, shares his outlook on oil and weighs in on what's prompting the slide in crude prices.
U.S. drillers have been living on the Fed's easy money, but their credit supply is about to run dry, Stephen Schork says.
Recent volatility in the price of oil has led some analysts to re-examine the history of price swings for the commodity.