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Energy Commodities Oil

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  • Both international and U.S. crude futures posted their third consecutive weekly losses last week on expectations of increased exports from Iran following a deal to ease sanctions against the OPEC producer. Brent September crude was 12 cents lower at $56.98 a barrel by 0316 GMT. Should WTI get back to a level seen last month around $60 a barrel, "U.S. producers will...

  • U.S. crude was down 5 cents at $50.84 by 0056 GMT, after falling more than 3 percent last week and more than 14 percent in July. Schlumberger NV said it is betting on an uptick in demand in coming quarters for oilfield services in North America, a market that has been battered by a steep drop in oil prices. Money managers cut their net long U.S. crude futures and options...

  • Barge with 1M gallons of oil product catches fire Monday, 20 Jul 2015 | 8:59 AM ET
    A Barge carrying 1 million gallons of Naphtha catches fire near Houston, Texas.

    A barge carrying around 1 million gallons of naptha burst into flames after a collision in the Houston shipping channel, NBC News reports.

  • Alberta spill heaps pain on Canada's oil sector Monday, 20 Jul 2015 | 8:29 AM ET

    An oil spill in the heart of Canada’s oil sand region has sparked renewed criticism of the country’s industry.

  • Oil rebound? These banks think so Monday, 20 Jul 2015 | 7:53 AM ET
    A gas flare is seen at an oil well site outside Williston, N.D.

    Oil has been on a losing streak recently but a number of banks think oil prices are about to pick up.

  • Can Iran add million more barrels a day? Unlikely: Pro Monday, 20 Jul 2015 | 12:45 AM ET
    Can Iran add million more barrels a day? Unlikely: Pro

    Helima Croft, chief commodities strategist at RBC Capital Markets, explains why she doesn't think that Iran can add a million barrels to daily oil production after sanctions are lifted.

  • US oil ends at $50.15 a barrel; lowest since April Monday, 20 Jul 2015 | 2:31 PM ET
    A customer fills his tank at a gas station in Wheeler Ridge, California.

    Oil prices slipped on Monday, despite data showing a sharp drop in Saudi Arabia's crude oil exports.

  • The week ahead: Greek banks to open Friday, 17 Jul 2015 | 3:40 PM ET
    The week ahead: Greek banks to open

    CNBC's Mary Thompson looks ahead to what are likely to be next week's top business and financial stories.

  • *Iran starts moving oil stored offshore to Asia. NEW YORK, July 17- Brent crude rose and U.S. futures dipped on Friday in choppy trading as expectations of increased exports from Iran capped prices and helped both contracts post their third consecutive weekly losses. "The rig count is a bullish element and might help keep U.S. crude above $50 and we might see some...

  • Oil at $50 not sustainable: Pro Friday, 17 Jul 2015 | 2:04 PM ET
    Oil at $50 not sustainable: Pro

    Mike Kelly, Global Hunter Securities, weighs in on the oil market and says that futures market pointing to $65 for WTI seems fair.

  • OIL DRILLERS CUT RIGS THIS WEEK AS CRUDE PRICES COLLAPSE- BAKER HUGHES.

  • *Iran starts moving oil stored offshore to Asia. NEW YORK, July 17- Crude oil prices slipped in choppy trading on Friday, heading for a third week of losses and feeling pressure from a stronger dollar and expectations of increased exports from Iran. "WTI selling is continuing off of dollar strengthening," Jim Ritterbusch, president at Ritterbusch& Associates in...

  • LONDON, July 17- The oil market was massively oversupplied in the second quarter and remains so today, the International Energy Agency wrote in its latest monthly oil market report. "The market's ability to absorb that oversupply is unlikely to last. Brent and WTI futures imply the market is willing to pay less than 45 cents per barrel per month to finance and store...

  • You’d be a ‘fool’ to short the market: Gartman Friday, 17 Jul 2015 | 2:51 AM ET
    Dennis Gartman

    Anyone shorting the global stock market stands to make a "fool" of themselves as equities continue to rally, Dennis Gartman told CNBC.

  • UPDATE 1-Oil prices steady as Greece crisis abates Friday, 17 Jul 2015 | 2:51 AM ET

    TOKYO, July 17- Oil prices were steady on Friday in thin trade in Asia, underpinned by a power outage at Britain's largest oilfield, though risks of oversupply following the Iranian nuclear deal and mixed economic data held back prices. All the geo-political issues seem to be out of the way for the time being, "said Jonathan Barratt, chief investment officer at Ayers...

  • Iran can add 550,000-650,000 bpd of oil: Pro Friday, 17 Jul 2015 | 12:43 AM ET
    Iran can add 550,000-650,000 bpd of oil: Pro

    When sanctions are lifted in early 2016, Iran's oil production could increase by 550,000-650,000 barrels per day, says Marina Petroleka, head of Energy & Infrastructure Research at BMI Research.

  • US oil settles down 2 cents, at $50.89 a barrel Friday, 17 Jul 2015 | 2:31 PM ET
    oil fracking North Dakota

    Oilfield services firm Baker Hughes reported U.S. drillers took seven oil rigs out of fields last week, capping two weeks of increases.

  • Oil prices rise in early Asian trade Thursday, 16 Jul 2015 | 9:54 PM ET

    TOKYO, July 17- Oil prices rose slightly on Friday in thin trade in Asia, underpinned by a power outage at Britain's largest oilfield, though risks of oversupply following the Iranian nuclear deal and mixed economic data held back prices. Still, the market remains in oversupply with around 2.5 million barrels per day in excess of demand and the likelihood of more...

  • Commodities tomorrow: Dollar drives oil down Thursday, 16 Jul 2015 | 4:00 PM ET
    Commodities tomorrow: Dollar drives oil down

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.

  • NEW YORK, July 16- Front-month Brent crude prices rose on Thursday after a power outage shut production at Britain's largest oilfield and as the August contract approached expiration. Expiring Brent August crude rose 46 cents to settle and go off the board at $57.51 a barrel, having reached $58.21. "Another build at Cushing would be bearish for U.S. crude, and the...