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CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil was down again today, as the spread between WTI and Brent narrowed. OPEC announced it would still not cut production.
Oil prices continued their rout with Brent crude and US WTI both falling to their lowest in almost six years.
Dan Dicker, MercBloc president, provides insight into oil's downward momentum and how the lack of buyers impacts prices.
The oil price is nearing a 6-year low. Richard Mallinson, geopolitical analyst at Energy Aspects, says markets are looking for "a turning point" in oil production and it will end up being non-OPEC countries that cut supplies.
CNBC's Jim Cramer said Tuesday that countries around the world, including China and India, are starting to benefit from oil's price plummet.
CNBC's Jackie DeAngelis reports oil is off session lows, but sits below $45 a barrel, and OPEC says there will be no backing down in terms of production.
Multinational businesses that do business overseas could feel a "drag" from the stronger dollar, says Ken Kamen, president of Mercadien Asset Management, but growing demand globally as oil prices drop could offset this later on.
Gareth Lewis-Davies, senior oil strategist at BNP Paribas, says that China is building up a strategic stock of oil, and that low prices provide a "good opportunity to dip into the market and accelerate purchases."
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Another big drop in oil dragged down equities. A GS forecast that said oil could go to $40 and OPEC refusing to cut production were the reasons why.
Oil slumped 5 percent to near six-year lows on Monday after Goldman Sachs slashed its short-term price forecasts.
Shell is definitely a choice for investors as the most "defensive" oil services stock currently says Jason Gammel, oil equities analyst at Jefferies.
Edward Morse, Citi commodities research, shares his outlook on crude prices. The U.S. will see a 40-percent cut in capex, predicts Morse.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Crude ended a little higher on the day, after Brent went under $50 last night. A significant build in gasoline could mean even lower prices at the pump.
A surge in U.S. gasoline and diesel supplies spells more trouble for oil prices but is good news for consumers.
In order to stem the free fall in oil prices, one of three key things must be done, says Sabine Schels, a commodity strategist at BofA Merrill Lynch Global Research.
Discussing the economics of oil prices, with Nicholas Green, Bernstein Research, and Chris Faulkner, Breitling Energy CEO.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil dropped another 4 percent today as traders look at the global economy and wonder where the tipping point actually is.
Oil prices sank to fresh 5-1/2-year lows extending losses after a 5 percent plunge in the previous session.
OPEC is looking to put a lid on the U.S. fracking boom, former Wells Fargo boss Richard Kovacevich tells CNBC.
Iran's government actually benefits from sanctions as they provide an excuse for the country's economic difficulties, an ex-presidential adviser said.