John Kilduff, Again Capital Parnters, provides analysis on oil prices, China demand, production and the looming glut in diesel fuel.» Read More
Exxon Mobil reports quarterly earnings and revenue that handily topped analysts' expectations.
OPEC oil supply in April has jumped to its highest in more than two years, boosted by record or near-record supplies from Iraq and Saudi Arabia.
April 30- Canadian oil producer Penn West Petroleum Ltd's first-quarter loss nearly tripled due to lower production and a slide in crude prices. Penn West's cash flow from operating activities, a measure of its ability to pay for drilling and other projects, fell to C $156 million, or 22 Canadian per share, in the first quarter, from C $222 million, or 55 Canadian...
Mike Scialla of Stifel forecasts oil will continue to climb and says that the previous downturn was due to a combination of supply growth in the U.S. and slack demand worldwide.
*Brent crude oil seen averaging $60/ barrel, WTI $54.40 in 2015. April 30- Oil is likely to stay relatively weak for at least the next year, a Reuters poll forecast on Thursday, suggesting a slowdown in oil production in the United States will not be enough to offset a global supply glut. The price crash has forced some exploration companies to stop drilling for oil and...
LONDON, April 30- U.S. crude oil hit a five-month high on Thursday as the dollar slipped to its lowest since February and as more evidence emerged of a gradual balancing of the U.S. domestic market. Brent crude oil was up 25 cents at $66.09 a barrel by 0830 GMT. U.S. crude oil, also known as West Texas Intermediate or WTI, hit a high of $59.40 a barrel, its highest since Dec. 12,...
Paddy Rodgers, CEO of Euronav, says the shipping firm saw their best quarter since 2008 thanks to low oil prices.
Profits from refining and trading rose to $2.65B from $1.575B a year earlier, offsetting a sharp drop in oil and gas production earnings.
*Japan factory output down for 2nd month. SINGAPORE, April 30- Oil prices slipped away from five-month highs in early Asian trading on Thursday as Japanese factory output weakened for the second straight month. Brent crude futures dropped 26 cents from their last settlement to $65.58 a barrel by 0307 GMT.
SINGAPORE, April 30- Oil prices slipped away from five-month highs in early Asian trading on Thursday as Japanese factory output weakened for the second straight month. Brent crude futures dropped 41 cents from their last settlement to $65.43 a barrel by 0105 GMT. WTI crude was down 13 cents at $58.45 a barrel.
WTI closed up 1.79 percent, helped by a weaker dollar and bets that a supply glut would ease.
SEOUL, April 30- U.S. crude futures held around $58.50 a barrel on Thursday, near their highest this year as U.S. crude stockpiles grew less than expected after the first decline since November in stocks at the main U.S. delivery hub. *Brent crude futures, the more widely-used benchmark, shed 39 cents to $65.45, after finishing up $1.20 at $65.84 in a session that saw...
At the recent IHS CERAWeek conference in Houston, CNBC speaks to a panel of experts on whether Washington should lift the 40-year-old export ban on U.S. crude oil.
There's no one individual whose comments carry more weight in the global oil market than the Saudi oil minister.
Ari Wald of Oppenheimer and David Seaburg call oil's next move with Dominic Chu.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Crude hit its highest level this year as inventories were a little less than expected. Cushing stocks were down as well.
CNBC's Patti Domm reports on the newly released earnings preview and oil prices.
Luke Rahbari, Stutland Volatility, discusses how to trade oil.
Helima Croft, RBC head of commodity strategy; discusses the Saudi oil impact. I do not expect a shift in oil policy, it will continue to produce at high rates, says Croft.
*Inventories at Cushing fall for first time since November. Government data showing a smaller-than-expected rise last week in crude inventories throughout the United States also aided sentiment, although some traders felt the market was ignoring bearish elements like higher production. U.S. crude futures were up $1.70 at $58.76 a barrel by 11:58 a.m. EDT,...