Why oil prices rallied higher this week, with Helima Croft, RBC Capital Markets.» Read More
TOKYO, Oct 9- Crude oil futures rose in early Asian trade on thin volumes after an influential forecaster predicted that a market rally was not far off and U.S. Brent was up 25 cents at $53.30 a barrel at 0306 GMT. U.S. crude was 23 cents higher at $49.66 a barrel, after climbing 3.4 percent to close at $49.43 a barrel.
Crude prices swung back and forth in choppy trade on Friday as traders closed positions at the end of a week that saw prices rally.
Commodities trader Noble Group is scaling back its metals business to focus on more profitable areas such as oil and gas, the FT reports.
Brent was up 20 cents at $53.25 a barrel at 0059 GMT. U.S. crude was 12 cents higher at $49.55 a barrel, after rising 3.4 percent to close at $49.43 a barrel. PIRA Energy Group, a closely watched forecaster that predicted the slump in oil prices a year ago, said on Thursday it expects crude prices to rise to $70 per barrel by the end of 2016 and $75 a barrel in 2017..
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.
Jackie DeAngelis, CNBC, reports on the oil market close, live from the floor of the NYMEX.
Concerns over geopolitical tensions in Syria boost crude prices. NEW YORK, Oct 8- Oil prices climbed to their highest in five weeks on Thursday, as buoyant Chinese equity markets encouraged buying, and as Russia's military involvement in Syria brought a geopolitcal risk premium into the market. Brent crude oil futures rose $1.60 to $52.93 a barrel by 1:07 p.m....
*Concerns over geopolitical tensions in Syria boost crude prices. NEW YORK, Oct 8- Oil prices climbed to their highest in five weeks on Thursday, as buoyant Chinese equity markets encouraged buying, and as Russia's military involvement in Syria brought a geopolitcal risk premium into the market. "Sentiment regarding China appears to have shifted of late and we...
Goldman Sachs said Thursday oil fundamentals have not changed and reiterated its call that crude prices will remain lower for longer.
BRUSSELS Oct 8- Oil markets have priced in nearly all the potential impact of the shale oil boom in the years ahead and energy-importing countries will only record a relatively small boost to their economies from low crude prices, a study published by the European Central Bank showed. The price impact of any further increase in shale supply is seen at less than...
The military involvement by Russia in Syria could force OPEC's largest member to capitulate on production cuts, entrepreneur Boone Pickens tells CNBC.
*Build in U.S. inventories may see price break $50/ bbl. Brent crude oil futures rose 50 cents to $51.83 a barrel by 1250 GMT, but down from an intraday high of $52.03 and down from Wednesday's one-month high at $53.15. "There was a hiccup with the U.S. data this week, but production is still expected to continue to slow," Saxo Bank commodities strategist Ole Hansen said.
Boone Pickens, BP Capital founder, weighs in on whether other automakers are cheating on their emissions tests.
Boone Pickens, BP Capital founder, shares his outlook on oil prices, restarting rigs and a cute joke about oil men.
The year isn't over yet but T. Boone Pickens says his prediction for $70 oil by year end isn't looking good. Here's why.
*Build in U.S. inventories may see price break $50/ bbl. "Those expectations drove prices upwards, so that's being reassessed and it's possible we'll see prices dropping below $50 again," Commerzbank analyst Carsten Fritsch said. Brent crude oil futures rose 6 cents on the day to $51.39 a barrel by 1058 GMT, down from an intraday high of $52.03 and down from...
The term structure has shifted, says Dennis Gartman, "The Gartman Letter," sharing his bullish outlook on crude.
Dennis Gartman, "The Gartman Letter," weighs in on selling of U.S. debt and the likely buyers.
Castrol’s “Nexcel” cartridge gives you a 90 second engine oil change. Richard Parry-Jones, chairman of Nexcel advisory board, explains.
The current recovery in oil prices could prove to be nothing more than a short-lived "dead cat bounce," analysts have warned.