The oil price could be stuck firmly around $50 by 2020, a Goldman Sachs analyst told CNBC, raising new fears about companies who've already cut costs.» Read More
Another clear sign that attempts by oil-consuming nations to manufacture lower prices (without addressing long-standing structural constraints in physical cost drivers) has failed miserably.
An increase in summer driving, particularly in the northeastern U.S., provided "a nice pickup in demand" for gas prices, Gulf Oil CEO Joe Petrowski told CNBC Monday.
CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.
WTI prices broke past the 99.00 level on the day, but was this due to the DOE report or Ben Bernanke?
Chesapeake Energy is spending $1 billion on a three-pronged plan to "break the headlock" of OPEC oil dependency, CEO Aubrey McClendon told CNBC Tuesday.
August Brent crude futures, while down nearly 1 percent from Monday’s close, remain solidly above $115 a barrel and mirror the relative strength of the OPEC basket price.
Unveiling new investments in the natural gas infrastructure, with Aubrey McClendon, Chesapeake Energy chairman/CEO.
The Iraqi government is expected to sign a $12 billion gas deal with Royal Dutch Shell and Mitsubishi Corp on Tuesday, Dow Jones reported.
Energy prices were mixed yesterday….The DOE released disappointing storage data for both crude oil and natural gas, but Henry Hub gas futures were the only market to sell off. WTI rose, but lagged behind the products.
Bahrain began its highly-anticipated National Dialogue this week in an effort to restore confidence both domestically and internationally that the Kingdom is committed to working through issues that sparked unrest within its borders in mid-February.
Venezuelan President Hugo Chavez's appearance at independence day celebrations on July 5 has calmed speculation that a change of government is imminent in the country, but it has highlighted the extent of his personal control in the world's eighth-largest oil exporter, analysts told CNBC.com.
The EUR/USD cross has failed to hold support, but crude oil has yet to respond. The euro currency is down 1½% thus far this week against the U.S. dollar. Given the strong correlation between the EUR/USD and oil (Brent) prices, 0.8249 as of last week, it would not have been unreasonable to expect knock-on weakness to crude oil values.
The latest EIA data does nothing to change our mind.
Spot Nymex crude oil for August delivery settled last night at 95.42, 1 penny above the settle for Wednesday, June 22nd, the day prior to the IEA’s thinly veiled attempt to control price. Brent oil futures closed last night at 112.48. That is still 1.73 or 1½% below the close for June 22nd, but it is 7.36 (!) or 7.0% (!) above last Friday’s settle.
Greece is disintegrating right in front of our eyes, Egyptian protestors are still hurling stones in Tahrir Square, Muammar is hanging in there and the AFP reports that Iran has been “…carrying out covert ballistic missile tests and rocket launches, including testing missiles capable of delivering a nuclear payload in contravention of UN resolution 1929."
Herve Ghesquiere and Stephane Taponier, the two French journalists that had been held hostage in Afghanistan for 547 days, landed on French soil on Thursday morning. Sources talk about the unusual path taken by the ransom.
High oil prices and concerns over the safety of nuclear power following the Fukushima crisis in Japan are reigniting interest in renewable energy, with wind power likely to be a major beneficiary, Tulsi Tanti, chairman of Suzlon Group, told CNBC.
With half the world's known reserves of oil and gas sitting in the fields of Saudi Arabia, Abu Dhabi, Qatar and the rest of the region, not many people think of the Middle East as having problems with energy.
In the wake of last Thursday’s surprise announcement from the IEA, the forward curve of the Brent crude oil market has been turned on its head, literally. At the same time, sweet/sour diffs have collapsed.
Many traders and hedge funds are nursing losses after a whiplash reversal in one of the biggest commodity trading trends of the year – a bet on a widening spread between different types of crude oil. The FT reports.