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  • SEOUL, Jan 28- U.S. crude futures dropped more than 1 percent in Asian trading on Thursday, paring gains of nearly 3 percent made in the previous session after Russia held out the possibility of cooperating with OPEC to control global oversupply. U.S. crude had declined 33 cents to $31.97 a barrel by 0112 GMT. Russian officials have decided they should talk to Saudi...

  • SEOUL, Jan 28- U.S. crude futures fell more than 1 percent in Asian trading on Thursday, paring gains of nearly 3 percent in the previous session, after Russia held out the possibility of cooperating with OPEC to control global oversupply. U.S. crude lost 33 cents at $31.97 a barrel as of 0008 GMT. Russian officials have decided they should talk to Saudi Arabia and...

  • SEOUL, Jan 27- Crude oil futures declined on Wednesday, heading back towards $30 a barrel as profit-taking wiped out a chunk of the gains notched up in the previous session on hopes for output cuts. Brent crude had declined 18 cents to $31.62 a barrel by 0611 GMT, after hitting a session low of $31.05 a barrel. U.S. crude fell 46 cents to $30.99 a barrel, recovering...

  • HOUSTON, Jan 27- Three major U.S. shale oil companies have slashed their 2016 capital spending plans more than expected in a bid to survive $30 a barrel oil prices, with one of them saying prices would need to rise more than 20 percent just to turn a profit. The cuts on Monday from Hess Corp, Continental Resources and Noble Energy ranged from 40 percent to 66 percent.

  • SEOUL, Jan 27- Crude oil futures dropped around 2 percent on Wednesday, heading back towards $30 a barrel as profit-taking wiped out a chunk of the gains notched up in the previous session on hopes for output cuts. Brent crude had declined 60 cents to $31.20 a barrel by 0134 GMT, after settling up $1.30, or 4.26 percent, at $31.80 a barrel on Tuesday.

  • U.S. crude drops over 3 pct as focus back on supply Tuesday, 26 Jan 2016 | 6:33 PM ET

    SEOUL, Jan 27- U.S. crude oil futures dropped more than 3 percent in Asian trading on Wednesday to test the $30 a barrel level again, as profit taking wiped out most of the gains seen in the previous session linked to hopes for output cuts. U.S. crude lost 88 cents at $30.57 a barrel as of 2321 GMT after hitting a session-low of $30.30 a barrel. "The positive sentiment...

  • *Iraq sees some flexibility for OPEC, non- OPEC deal. NEW YORK, Jan 26- Oil rose more than 5 percent on Tuesday, with Brent going above $32 a barrel, on hopes OPEC and non- OPEC producers were inching closer to a deal to reduce output in the face of one of the biggest supply gluts in decades. The Organization of the Petroleum Exporting Countries has renewed calls for rival...

  • Here's who gets hurt by oil price plunge Monday, 25 Jan 2016 | 2:11 PM ET
    The price of oil is shown downtown on Jan. 21, 2016, in the oil town of Midland, Texas.

    Lower crude prices are helping lift much of the U.S. economy, but oil-producing regions are getting clobbered.

  • Jan 25- SandRidge Energy Inc is exploring debt restructuring options, according to people familiar with the matter, as the heavily indebted U.S. oil and gas exploration and production company struggles with the fallout from plunging energy prices. Debtwire had reported on Jan. 13, also citing unnamed sources, that SandRidge- which produces oil and gas from shale...

  • NEW YORK, Jan 24- The average price of a gallon of gasoline in the United States fell 14 cents in the past two weeks to its lowest level in seven years, according to a Lundberg survey released on Sunday. Regular grade gas fell to $1.91 per gallon in the Jan. 22 survey from $2.05 on Jan. 8, when the previous survey was taken. In the Lundberg panel of large cities in 48 states, the...

  • For these US states, cheap oil is not a good thing Friday, 22 Jan 2016 | 2:41 PM ET

    Some states dependent on energy revenues are facing strained budgets due to low oil prices, according to an S&P report.

  • *Venezuelan call for OPEC meeting falls on deaf ears. NEW YORK, Jan 21- Oil prices rebounded over $1 a barrel from 12- year lows on Thursday, their biggest daily gain this year, as rallying financial markets gave some bearish traders reason to take profits on record short positions. U.S. crude vaulted back toward $30 per barrel as hopes for easier monetary policy from...

  • *Venezuela's call for OPEC meeting falls on deaf ears. *Iran output to rise to over 4 mln bpd this year- minister. NEW YORK, Jan 21- Oil prices rebounded more than $1 a barrel from 12- year lows on Thursday, heading for their biggest daily gain this year as rallying financial markets gave some bearish traders reason to take profits on record short positions.

  • Ample storage space for oil may limit price moves Tuesday, 19 Jan 2016 | 6:20 AM ET

    *New storage capacity to come on line in Asia this year. New storage tanks built in recent years, mostly in the United States and Asia, leave hundreds of millions of barrels of space to fill, confounding expectations that excess production could overflow tanks and drive prices further down. Benchmark Brent crude dipped below $28 a barrel on Monday, its lowest level...

  • Jan 15- Wall Street bled on Friday, with the S&P 500 sinking to its lowest level since October 2014 as oil prices sank below $30 per barrel and fears grew about economic trouble in China. The Russell 2000 small-cap index dropped as much as 3.5 percent to its lowest level since July 2013. The energy sector dropped 2.87 percent as oil prices fell 6.5 percent, in part due...

  • NEW YORK, Jan 13- U.S. gasoline and diesel inventories surged for a second week while crude stocks rose slightly last week, data from the Energy Information Administration showed on Wednesday. U.S. crude futures also turned negative, falling as low as $30.10 a barrel before rebounding slightly to $30.69 by 11:11 a.m. EST. Between distillate and gasoline, we've...

  • Brent crude, the global benchmark, was up 63 cents at $31.49 a barrel at 1151 GMT, but remained near lows last seen nearly 12 years ago. West Texas Intermediate crude was up 69 cents at $31.13 a barrel, recovering from Tuesday's dip below $30. "The API inventory data triggered a profit-taking wave, that's the main reason for this uptick," said Hans van Cleef, senior energy...

  • Brent crude, the global benchmark, was up 87 cents at $31.73 a barrel at 0954 GMT, but remained near lows last seen nearly 12 years ago. West Texas Intermediate crude was up 88 cents at $31.32 a barrel, recovering from Tuesday's dip below $30. "The API inventory data triggered a profit-taking wave, that's the main reason for this uptick," said Hans van Cleef, senior energy...

  • *Oil pulls further away from $30 level. TOKYO, Jan 13- Crude futures rose on Wednesday for the first time in eight days, with U.S. oil pulling further away from the widely watched $30- per-barrel level breached the previous session, as Chinese data showed record imports in December. The $30 mark is both a psychological and financial threshold and, in recent days,...

  • *Oil pulls further away from $30 level. TOKYO, Jan 13- Crude futures rose on Wednesday for the first time in eight days, with U.S. oil pulling further away from the widely watched $30- per-barrel level breached the previous session, after U.S. crude stocks unexpectedly fell last week. The $30 mark is both a psychological and financial threshold and, in recent days,...