By: Jackie DeAngelis
For the first time in months, oil industry officials are hopeful that crude prices could stick above $50 per barrel. » Read More
The cartel's production cuts are expected to make it possible for Americans to ply the route to Asia from the United States. » Read More
The LNG veteran says the answer to the glut of natural gas is even lower prices, which he says his new venture Tellurian will supply.
Oil edged above $50 a barrel on Thursday, drawing support from sources' comments that OPEC's Gulf members are willing to cut their output.
SINGAPORE, Oct 27- Oil prices were below $50 per barrel on Thursday on doubts OPEC will be able to bring together its members and Russia to organise a coordinated crude production cut. Traders said Brent was struggling to break above $50 over doubts that the Organization of the Petroleum Exporting Countries and non- OPEC producers like Russia will be able to...
CNBC's Bertha Coombs discusses the day's activity in the commodities markets.
NEW YORK, Oct 26- Oil settled down more than 1 percent on Wednesday even after a surprise drawdown in U.S. crude inventories, as traders remained cautious that OPEC would be able to cut production come late November. "The focus point from here remains on the OPEC meeting that comes a month from now, with Iran, Libya and Nigeria all looking unlikely to commit to output...
NEW YORK, Oct 26- Oil fell more than 1 percent on Wednesday even after a surprise drawdown in U.S. crude inventories, as traders remained cautious that OPEC would be able to cut production come late November. "The focus point from here remains on the OPEC meeting that comes a month from now, with Iran, Libya and Nigeria all looking unlikely to commit to output cuts," said...
CNBC's Bob Pisani and Art Cashin, of UBS, discuss the move in crude.
The U.S. has quietly been increasing exports of gasoline, and that is one factor that could be helping reduce the U.S. oil glut on the margin.
*After initial rebound, prices remain down on OPEC. NEW YORK, Oct 26- Oil fell 1 percent on Wednesday on growing doubts that OPEC would cut production enough to drain a global glut, although prices bounced off session lows, with Brent returning above $50 a barrel after the U.S. government reported a surprise drawdown in crude inventories. But the rebound was limited...
The "Futures Now" team discusses the move in crude oil, and where they see the commodity heading from here.
The Niger Delta Avengers have resumed attacks on Nigeria's oil industry, and analysts say the government has no quick fixes to offer.
Oct 26- Wall Street was lower on Wednesday morning as Apple's weak results weighed on technology stocks but a sharp recovery in oil prices limited some losses. Oil prices, which fell to as low as $49.65, were trading at session highs after data showed a surprise draw in U.S. crude inventories. Movement on Wall Street has largely been dictated by corporate earnings...
NEW YORK, Oct 26- Oil prices recovered most of their early losses on Wednesday, with Brent returning to above $50 a barrel, after the U.S. government reported a drawdown in domestic crude stocks that extended a trend of unexpected inventory declines this autumn. A preliminary report from trade group American Petroleum Institute on Tuesday suggested a build as...
U.S. CRUDE FUTURES TURN POSITIVE AFTER EIA DATA.
CNBC's Bertha Coombs reports the latest crude oil inventory data from the EIA.
OIL PRICES PARE LOSSES SHARPLY AFTER EIA DATA SHOWS SURPRISE DRAW IN U.S.
*OPEC squabbles over output cuts further drags prices. NEW YORK, Oct 26- Oil prices fell below $50 a barrel on Wednesday, with Brent dropping to a near one-month low ahead of official data that could show a U.S. crude inventory build amid skepticism over OPEC's planned output cut. The U.S. Energy Information Administration will report crude stockpiles and other oil...
CNBC's Bertha Coombs reports on moves in the oil markets.