Energy Commodities Oil


  • OPEC member: There will be a freeze & $50 oil is coming

    Dr. Emmanuel Kachikwu, former president of OPEC, discusses whether an Opec oil production freeze is in the cards and

  • The Week Ahead

    CNBC's Seema Mody looks ahead to what are likely to be next week's top business and financial stories.


  • NEW YORK, Feb 26- Oil prices fell on Friday as investors cashed out weekly profits with U.S. crude set for its biggest weekly gain in seven years after an earlier rally driven by disruptions to crude supplies and Wall Street's gains from U.S. economic data. Brent crude was down 22 cents at $35.07 a barrel by 2:13 p.m. EST. U.S. crude traded down 29 cents $32.78 a barrel,...

  • Feb 26- U.S. energy firms this week cut oil rigs for an 10th week in a row to the lowest levels since December 2009, data showed on Friday, as some producers focus more on completing their drilled but uncompleted wells instead of drilling new ones. U.S. crude futures were trading over $33 a barrel, putting them on track for their largest weekly gain in seven years, after...

  • Kilduff: Saudis are clever on pushing OPEC freeze

    Discussing comments by the Nigerian oil minister on an OPEC production freeze with John Kilduff, founding partner at Again Capital LLC.

  • NEW YORK, Feb 26- Global equity markets gained on Friday, backed by higher prices for oil and other commodities, while data showed the U.S. economy grew faster than expected in the fourth quarter. Europe's FTSEurofirst 300 stock index rose 2 percent, outperforming Wall Street, supported by a rally in mining shares as industrial metals such as copper and aluminum...

  • NEW YORK, Feb 26- Oil rallied 3 percent on Friday, with U.S. crude futures headed for its largest weekly gain in seven years, after supply disruptions in Iraq and Nigeria and higher equity prices fueled by U.S. growth data. Pipeline outages in Iraq and Nigeria have removed more than 800,000 barrels of crude oil per day from the market for at least the next two weeks.

  • Feb 26- Wall Street inched higher on Friday after data showed that a slowdown in U.S. economic growth was not as bad as expected, but gains were capped as oil prices came off sessions highs. U.S. crude prices, a major stock market driver this year, rose nearly 5 percent but pared some of those gains and were up about 2 percent at 11:11 a.m. ET. "We've been low on oil for so...

  • A worker looks out onto the weather deck of the Armada gas condensate platform, operated by BG Group Plc, in the North Sea, off the coast of Aberdeen, U.K.

    One trader is trying to capitalize on the recent strength in oil with an options strategy that could pay more than $1 million.

  • Halliburton to slash 5k jobs

    The oilfield services company is reducing its workforce further amid the rout in oil prices.

  • LONDON, Feb 26- Brent crude oil hit its highest level since early January on Friday and was on track for its first weekly gain in a month as strong U.S. gasoline demand and supply disruptions outweighed concerns about a fundamental glut. Brent crude futures were trading at $36.63 a barrel at 1348 GMT, up $1.34 from their last close, but rose to $36.84 earlier in the...


  • Container ship in Suez Canal, Egypt.

    The low price of oil is allowing cargo vessels to avoid the Suez and Panama canal tariffs and take the long way round Africa instead.

  • *March meeting with Saudi, Qatar and Russia- Del Pino. LONDON, Feb 26- Crude oil prices reversed early losses on Friday, with Brent on track for its first weekly gain in a month, as strong U.S. gasoline demand and hopes of OPEC action outweighed concerns over fundamental oversupply. Brent crude futures were trading at $36.09 a barrel at 1100 GMT, up 80 cents from their...

  • Markets all about oil, oil, oil: Trader

    There's a bit of a relief rally going on here, says Brian Kelly, Fast Money trader sharing his perspective on what's driving volatility in the markets.

  • MOL Group reports $1.6billion loss

    József Simola, CFO of MOL Group, discusses the impact of oil prices on the company's earnings.

  • Brent crude futures were trading at $35.44 per barrel at 0816 GMT, up 15 cents from their last close and an intra-day low of $34.73 a barrel. West Texas Intermediate crude futures were up 26 cents at $33.33 a barrel and up from a low of $32.76. "It comes more from the technical side of closing positions because of the Brent expiry on Monday," said Daniel Ang, analyst at...

  • Oil fracking

    U.S. crude closed lower in choppy trade, but still recorded weekly gains, as supply disruptions in Iraq and Nigeria provided supported.

  • The correlation between oil prices and stocks will end when oil prices show signs of stabilizing, says PNC Asset Management Group's Bill Stone.