CNBC's Jackie DeAngelis with details on the weekly EIA storage report. » Read More
CNBC's Jackie DeAngelis reports on commodities as several options and futures contracts expire Friday, and the factors supporting the price of oil.
LONDON, March 18- Oil rose above $42 a barrel on Friday, hitting its highest this year and extending a rally into a fourth week on expectations of a production freeze by major exporters, stronger seasonal demand and dollar weakness. Brent crude's front-month contract was up 59 cents at $42.13 a barrel by 1113 GMT, having touched a 2016 high of $42.31.
Don't expect the $40 price to stay because the fundamentals are too poor, say John Kilduff, Again Capital Partners discussing oil's move higher and why prices will likely fall back. Also Kilduff weighs in on whether OPEC will likely agree to a deal to freeze output.
Brent crude's front-month contract touched $41.71 a barrel-- its highest this year-- in early trading and was down 7 cents at $41.47 by 1005 GMT. Oil prices have climbed by more than 50 percent from 12- year lows reached in December, bolstered as the Organization of the Petroleum Exporting Countries floated the idea of a production freeze, boosting Brent from about...
The Russian central bank holds interest rates at 11 percent and says inflation risks remain high.
An Algerian gas plant owned by Norway's Statoil, BP and state firm Sonatrach was attacked on Friday, the company said.
Brent crude's front-month contract was 20 cents lower at $41.34 a barrel by 0928 GMT, having earlier touched $41.71, its highest this year. U.S. crude was down 10 cents at $40.10 barrel, after rising to as high as $40.55-- higher than the previous peak of $40.36 reached on Thursday. "There is continuing jaw-boning about production cuts from OPEC members and...
TOKYO, March 18- U.S. oil futures touched new highs for 2016 on Friday and were set to post gains for a fifth straight week on growing optimism that major producers would strike a deal to freeze output, while a more benign interest rate environment also supported prices. U.S. crude was up 3 cents at $40.23 barrel at 0653 GMT, after rising to as much as $40.55- higher than...
John Augustine, chief investment officer of The Huntington Trust, is waiting for corporate earnings to catch up with oil's price rally before buying energy stocks.
Crude prices slipped on Friday after the U.S oil rig count rose the first time since December.
TransCanada, the company behind the Keystone XL oil pipeline, said it will buy Columbia Pipeline Group for $10.2 billion.
Michael Cohen, Barclays energy commodities research head, shares his insight on how to play crude and forecasts oil hitting $60 in 2017.
CNBC's Bertha Coombs discusses the day's activity in the commodities markets.
NEW YORK, March 17- Oil prices hit 2016 highs on Thursday, with U.S. crude surging 5 percent to pierce the $40 barrier, on optimism that major producers will strike an output freeze deal next month amid rising crude exports and gasoline demand in the United States. OPEC kingpin Saudi Arabia and non- OPEC producers led by Russia will meet on April 17 in the Qatar capital...
CNBC's Bertha Coombs reports oil and gasoline demand in February hit an 8-year high, according to the American Petroleum Institute.
BRENT CRUDE FUTURES SETTLE AT $41.54 A BARREL, UP $1.21 OR 3 PCT.
U.S. CRUDE SETTLES UP $1.74 OR 4.5 PCT AT $40.20 A BARREL.
CNBC's Bertha Coombs reports on West Texas crude hitting over $40 a barrell for the first time in 2016.
Discussing oil as it hits new highs and breaks $40, with the Future's Now team.
*U.S. crude up 4 pct to above $40, Brent up 3 pct to above $41. NEW YORK, March 17- Oil prices hit 2016 highs on Thursday, with U.S. crude piercing the $40 psychological barrier, on optimism that major producers will strike an output freeze deal next month amid soaring gasoline demand in the United States. OPEC kingpin Saudi Arabia and non- OPEC producers led by Russia will...