Alejandro Barbajosa, VP, Crude Middle East & Asia-Pacific at Argus Media, says crude oil prices will see further declines amid an oversupply in distillate stockpiles, which include diesel and heating oil.» Read More
*Oil prices to stay below $70 a barrel in 2015/ 16- NAB. SINGAPORE, July 27- Oil prices fell on Monday after closing the previous session at their lowest levels since March on renewed oversupply concerns from the United States and Iraq, although a weaker dollar helped to limit deeper losses. "The markets are looking for price guidance from Janet& Co," said Ben Le Brun,...
SINGAPORE, July 27- Oil prices fell on Monday after closing the previous session at their lowest levels since March on renewed oversupply concerns from the United States and Iraq, although a weaker dollar helped to limit deeper losses. "The markets are looking for price guidance from Janet& Co," said Ben Le Brun, market analyst at Sydney's OptionsXpress, referring...
Randy Ollenberger, senior oil analyst & managing director of BMO Capital Markets, outlines his expectations for the earnings of energy heavyweights in the U.S.
The world's big energy groups have shelved $200 billion of spending on new projects in a round of cost-cutting aimed at protecting investors. The Financial Times reports.
Crude oil futures hit four-month lows on Monday after a steep drop in China's stock markets sparked concern about its economic health.
U.S. crude for September delivery was down 14 cents at $48 as of 0024 GMT, after closing the previous session down 31 cents at $48.14, its lowest settlement since March 31 and down 5.5 percent on the week. Brent crude futures for September delivery fell 4 cent to $54.58 after ending the previous session 65 cents down, the lowest close since March 19 and a drop of 4.3...
Johannes Benigni, founder & managing director of JBC Energy, says it's possible for oil prices to touch $70 a barrel by year-end, but warns that markets remain in bearish territory for now.
David Darst outlined the factors that led to major U.S. stock averages falling more than 2 percent this week.
CNBC's Mandy Drury looks ahead to what are likely to be next week's top business and financial stories.
*Drillers add 21 oil rigs in U.S. this week- Baker Hughes. NEW YORK, July 24- Brent and U.S. crude futures settled on Friday at their lowest since March and posted their fourth straight weekly decline as weak economic data from China and a rise in U.S. oil drilling rigs applied pressure. U.S. energy firms added 21 oil rigs this week after pulling seven rigs last week, oil...
Insight on Anthem's plans to buy Cigna and how to play the health care space overall, with Sarah James, Wedbush Securities.
CNBC's Jackie DeAngelis tracks oil's action into the close.
NEW YORK, July 24- Brent and U.S. crude futures extended losses to session lows on Friday after Baker Hughes Inc data showed companies added 21 oil rigs in the United States this week. Brent crude was down 80 cents at $54.47 a barrel at 1:18 p.m. EDT, after falling to $54.30. U.S. crude was down 52 cents at $47.93, having dropped to $47.72 after the rig-count report was...
BRENT CRUDE FUTURES EXTEND LOSSES TO SESSION LOW AFTER DATA SHOWS U.S.
CRUDE FUTURES EXTENDS LOSSES TO SESSION LOW AFTER DATA SHOWS U.S.
CNBC's Jackie DeAngelis reports on the latest oil rig count data.
July 24- Encana Corp, Canada's No.1 natural gas producer, said it had laid off about 200 employees this month, joining a growing list of oil producers cutting jobs to cope with a steep fall in crude prices. Encana's shares fell 10 percent to a 13- year low of C $10.10 after the company reported a bigger-than-expected quarterly loss due to weak production.
NEW YORK, July 24- Brent futures fell and U.S. crude turned lower on Friday as both contracts headed for their fourth straight weekly declines as weak economic data from China added pressure on oil prices. U.S. crude losses follow Thursday's fall into bear market territory, with it $48.45 a barrel settlement off 21 percent from the June 10 close at $61.43.
Will global oversupply continue to weigh down the oil markets? Darren Horowitz, Raymond James energy analyst, discusses oil production and why he is bearish.
LONDON, July 24- Oil prices hovered near four-month lows on Friday after data showed a contraction in China's factory sector and the dollar rose against a basket of currencies. "Concerns around the demand environment were heightened further today by the PMI read out of China," said Michael McCarthy, chief market strategist at CMC Markets in Sydney.