Iran is offering more flexible terms on oil price fluctuations and investment risks to make the sector attractive, the Financial Times reports.» Read More
CNBC's Jackie DeAngelis reports on all the market moving events from the NYMEX, as crude prices tumble and Brent approaches $49.
LONDON, Aug 31- Oil fell below $49 a barrel on Monday after its biggest two-day rally in six years last week, pressured by a supply glut and renewed concern about a hard landing for China's economy. At 0835 GMT, Brent was down $1.28 at $48.77 a barrel and U.S. crude, which had rallied 12 percent last week, dropped $1.00 to $44.22. "Volatility was high last week, so now we're...
Nick Carn, founder of Carn Macro Advisors, says the ultimate cure for oil’s current woes are a continuation of low prices, which will help boost demand.
Maersk is to lead a £3 billion project to develop the largest gasfield discovered in the U.K. North Sea for a decade, the FT reports.
Claudio Descalzi, CEO of Eni, comments on the discovery of the largest known gas field in the Mediterranean.
Carsten Fritsch, senior commodity analyst at Commerzbank, says in the case of a rate hike by the U.S. Federal Reserve, oil prices could revisit recent lows.
Dennis Gartman, founder, editor and publisher of The Gartman Letter, says that if he was forced to take a position he’d rather be a buyer than a seller of oil and oil stocks.
SINGAPORE, Aug 31- Oil prices fell in Asia on Monday as traders took profits, snapping gains last week that saw the biggest two-day rally in six years. "There is definitely a lot of profit taking going on," said Daniel Ang, an analyst at Singapore's Phillip Futures. Brent fell 98 cents to $49.07 per barrel as 0329 GMT after rising $2.49, or 5 percent, in the previous session.
Oil prices surged nearly 9 percent Monday, capping a three-day rally that added more than 27 percent to the commodity's price.
SINGAPORE, Aug 31- Oil prices fell in Asia on Monday as traders took profits, snapping three days of gains last week that saw the biggest two-day rally in six years. "There is definitely a lot of profit taking going on," said Daniel Ang, an analyst at Singapore's Phillip Futures. Brent crude futures for October delivery fell 86 cents, or 1.7 percent, to $49.19 per barrel as...
Oil's rally last week was the result of speculative trade, not fundamentals, says Daniel Morgan, global commodities analyst at UBS.
*Some 31 U.S. senators have pledged to support the nuclear deal with Iran ahead of a Congressional vote by Sept. 17, moving President Barack Obama a step closer to having sufficient backing to ensure the deal stands. *Libya's National Oil Company and Central Bank chairmen met 26 oil majors including BP and ExxonMobil at meetings in London last week in a renewed...
Italian energy group Eni said it had discovered potentially one of the world's largest natural-gas fields off the Egyptian coast.
Berkshire Hathaway disclosed a $4.48 billion stake in oil refiner Phillips 66, rebuilding a bet it had made in the energy industry before oil prices fell.
The lows in oil will likely be coming in September or October, and then there will be a different dynamic, John Hofmeister said.
The Fast Money traders debate buying signs in energy as oil surges higher.
John Hofmeister, former president of Shell Oil, explains his outlook on energy and forecasts crude going up to $80.
CNBC's Mandy Drury looks ahead to what are likely to be next week's top business and financial stories.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets and looks ahead at where oil and precious metals are likely headed next week.
Will the rally fade? Helima Croft, RBC Capital Markets, analyzes the movement in oil and predicts where oil will be at the end of the year.