CNBC's Jackie DeAngelis reports on the oil market's close, live from the floor of the NYMEX.» Read More
CRUDE FUTURES EXTEND GAINS, UP 10 PERCENT ON DAY AT $42.46/ BBL.
Fluctuations in the price of oil are uniquely felt in West Texas, where life and the economy revolve around black gold.
With oil prices surging after the global market turmoil of "Black Monday," could investors regain their faith in commodities?
CNBC's Jackie DeAngelis reports the latest natural gas supply numbers.
*Global stock markets rise as China shares recover. *Outlook uncertain on supply glut and China fears. *Standard Chartered slashes crude price forecasts.
Nicholas Colas, chief market strategist at Convergex, gives the rundown ahead of the U.S. open on August 27th 2015.
*Global stock markets rise on Asia, Wall Street rally. *Standard Chartered cuts crude price forecasts sharply. However, do not be wrong footed by a correction higher, " PVM Oil Associates technical analyst Robin Bieber said.
*Global stock markets rise on Asia, Wall Street rally. LONDON, Aug 27- Oil prices rose more than $1 a barrel on Thursday after a rally in equity markets and an unexpected fall in U.S. crude inventories, but worries over the health of the Chinese economy and a global oil glut kept the outlook uncertain. Front-month Brent, the global oil benchmark, was up $1.50 at $44.64 a...
Ole Hansen, head of commodity strategy at Saxo Bank, outlines the conditions that could push crude prices up a further 10 percent.
French oil major Total has agreed to sell some of its gas pipeline assets in the UK's North Sea to North Sea Midstream Partners.
Samir Brikho, CEO at Amec Foster Wheeler, says there is no reason for oil prices to rise before year-end.
*Global markets take heart from Wall Street rally. *But overproduction, weakening China still weigh on oil. SEOUL/ SINGAPORE, Aug 27- Oil prices climbed by around $1 a barrel on Thursday on an unexpected fall in U.S. crude inventories and a rally in global equity markets, although ongoing oversupply capped gains.
While a slowdown in China could hurt oil demand, the issue of a supply glut remains the main factor weighing down prices, says Aiden Bradley, executive director at Commonwealth Bank.
Declining oil prices have been a major drag on the Canadian economy, which is on the edge of a technical recession. CNBC's Deirdre Bosa has more.
Azlin Ahmad, editor, crude oil at Argus Media, discusses how factors like a supply glut and a devaluation in the yuan affect China's oil exports and imports.
Stephen Gengaro, oil services analyst at Sterne Agee, discusses the $14.8 billion acquisition of drilling equipment maker Cameron International by oil services provider Schlumberger.
SEOUL, Aug 27- Brent crude climbed by more than $1 a barrel on Thursday on an unexpected fall in U.S. crude inventories and a rally in global equity markets, but a stronger dollar capped gains. Front-month Brent, the global oil benchmark, had gained $1.03 to $44.17 a barrel by 0225 GMT, having ended down 7 cents at $43.14 on Wednesday. U.S. crude's front-month contract...
Oil rocketed higher Thursday in one of the biggest one-day rallies in years.
Victor Shum, vice president of IHS Energy Insight, says the oil market remains "massively oversupplied" and these fundamentals are unlikely to improve anytime soon.
U.S. crude's front-month contract had risen 59 cents to $39.19 a barrel by 0115 GMT, after settling down 71 cents, or 1.8 percent, at $38.60 a barrel on Wednesday. Front-month Brent, the global oil benchmark, gained 64 cents to $43.78 a barrel, having ended down 7 cents at $43.14. U.S. crude inventories fell 5.5 million barrels in the week to Aug. 21, the biggest one-week...