Bounce In Oil Prices Silences Bearish Calls For Crude

West Texas Intermediate crude oil futures fell below $102 a barrel, good for a 22% drop over the past two weeks. The funny thing is that this doesn't feel like a bear market, considering that...

Oil Rises Further As API Reports Large Crude Draw

The American Petroleum Institute reported a large draw this week for crude oil of 3.799 million barrels. The build comes as the Department of Energy released 6.9 million barrels from the Strategic...

Asian stocks buoyed by Wall Street gains as easing oil cools inflation fears

South Korea's Kospi gained 1.65%. MSCI's broadest index of Asia-Pacific shares rose 1.31%. U.S. stock futures point to a 0.25% decline when those markets reopen. Treasury yields remained subdued...

U.S. Drillers Add 10 Oil Rigs As Permian Takes The Lead

The number of active drilling rigs in the United States rose by 13 this week. The total rig count rose to 753 this week—283 rigs higher than the rig count this time in 2021. The rig count in the...

Oil rises over 2%, but still set for weekly drop on recession fears

Oil prices settled up by more than $3 a barrel on Friday, supported by tight supply. But they notched their second weekly decline on concern that rising interest rates could push the world economy...

Oil prices weaken on hawkish Fed rhetoric, concerns about demand

Brent crude futures fell $2.26 cents, or 2%, to $109.48 by 1:04 p.m. ET (1704 GMT) U.S. West Texas Intermediate (WTI) crude futures were down 2.3%, at $103.71.Federal Reserve chief Jerome Powell...

Is It Too Late To Invest In The Oil Price Rally

Oil prices have continued sliding in the wake of the central bank deciding to hike the interest rate by a record-high 75 basis points. WTI futures for July settlement were quoted at $104.48/barrel...

Oil prices fall more than 2% extending losses

U.S. West Texas Intermediate crude futures fell 2.9%, to $103 a barrel. Oil prices added to losses from the previous session on Thursday, dropping more than 2%. Investors worried that aggressive...

Oil slumps 4% as Biden set to cut fuel costs for drivers

U.S. President Joe Biden is expected to ask Congress to consider a three-month suspension of the 18.4 cents per gallon federal tax on gasoline. Biden is also expected to call on states to suspend...

European markets set to slide at the open, giving up gains made earlier this week

European stocks are expected to open in negative territory on Wednesday. The lower open in Europe comes as global market sentiment shifts to a more negative setting. Overnight, shares in the...

Oil rises on market caution over supply concerns

Brent crude futures rose $1.08, or about 1%, to $115.21 a barrel at 0400 GMT. The benchmark contract fell 7.3% last week in its first weekly fall in five. U.S. West Texas Intermediate (WTI) crude...

Oil wobbles as global economic worries offset tightening supply

Brent crude futures slipped 8 cents, or 0.1%, to $113.04 a barrel by 0242 GMT. Front-month prices tumbled 7.3% last week, its first weekly fall in five. U.S. West Texas Intermediate crude was at...

Stock futures plunge following post-Fed decision rally

The major futures indexes suggest a drop of nearly 2.00%, or more than 500 Dow points when the opening bell rings. Shares of Apple are taking a hit in remarket trading, down nearly 3%. The Federal...

Oil Prices Fall On Biggest Fed Rate Hike Since 1994

The Federal Reserve raised rates by three-quarters of a percentage point, or 75 basis points. Wall Street had largely anticipated a 75-basis point hike, and oil prices were down 1% on Wednesday....

Oil prices settle down on fears of Fed and oil profit tax

Brent crude futures settle down $1.10, or 0.9%, to $121.17 a barrel. Most Fed watchers had expected the U.S. central bank to hike rates by 50 basis points. But after Friday's surprisingly strong...

Oil Prices Spike As OPEC Reveals Production Loss For May

OPEC did not lift its production as agreed for the month of May. The group stressed that oil demand could be stymied by Russia’s invasion of Ukraine. Saudi Arabia and the UAE are the only members...

Oil falls on Beijing's COVID-19 warning, inflation worries

Oil drops about $2 a barrel on Monday as a flare-up in COVID-19 cases in Beijing dented hopes of a Chinese demand rebound. Beijing's most populous district Chaoyang announced three rounds of mass...

Oil falls as U.S. inflation data surges, China imposes lockdowns

Brent crude fell $1.06 to settle at $122.01 a barrel on Friday. U.S. consumer prices rose more than expected and China imposed new COVID-19 lockdown measures. China COVID jitters rise as parts of...

Commodity Chaos From Ukraine War Sends Trafigura to Record $2.7 Billion Profit

Commodity merchant Trafigura scores record $2.7 billion profit in six months through March. Trading house emerged as a winner from market disruption, taking in more than $170 billion in revenue....

Asia-Pacific stocks set for lower start ahead of China and U.S. inflation data

Shares in Asia-Pacific declined in Friday morning trade. The Chinese producer price index for May jumped 6.4% as compared with a year earlier. Investors also looked ahead to the release of U.S....

Oil sticks near three-month highs despite China lockdowns

Brent crude futures dipped 14 cents or 0.1% to $123.44 a barrel at 1045 GMT. U.S. West Texas Intermediate crude for July was at $121.88 a barrel, down 23 cents. China's May exports jumped 16.9%...

Wall Street falls as Amazon, chipmakers weigh

Nine of the 11 major S&P sectors were trading lower. Economy-sensitive materials (.SPLRCM) and financials (.SPSY) fell 1.6% each. Amazon.com declined and chipmakers came under pressure after a...

Gas on the rise: 'No end in sight' for record-high pump prices, energy expert warns

CNN.com will feature iReporter photos in a weekly Travel Snapshots gallery. Please submit your best shots of the U.S. for next week. Visit CNN.com/Travel next Friday for a new gallery of snapshots...

Goldman Now Sees Oil Hitting $140 This Summer

Goldman Sachs raised its price target for Brent crude to $140 per barrel from $125 per barrel, citing unresolved structural shortages. The brief period of balance in oil earlier this year, when...

After Exxon Mobile's 61% Rally This Year Is It Time To Take Profit On The Stock?

Shares of US energy giant Exxon Mobil have had a remarkable run during the past two years. After surging 67% in 2021, the Irving, Texas-based company has gained another 61.2% this year. The...

Oil tops $120 a barrel on Saudi pricing despite OPEC+ deal By Reuters

U.S. West Texas Intermediate (WTI) crude futures rose 8 cents, or 0.1%, to $118.95 a barrel. Brent crude was up 4 cents to $119.76 a barrel after touching an intraday high of $121.95.Saudi Arabia...

Brent climbs above $120/bbl after Saudi Arabia hikes crude prices

Saudi Arabia hiked prices for its crude sales in July, signalling tight supply. OPEC+ agreed to accelerate output increases over the next two months. Brent crude was up 91 cents, or 0.8%, at...

Asia-Pacific stocks set for declines; private survey on Chinese services activity for May ahead

China's Caixin Services Purchasing Managers' Index released Monday came in at 41.4, an improvement over April's reading of 36.2. Mainland Chinese stocks traded in positive territory, with the...

OPEC to Boost Oil Production: Buy These 2 Oil Stocks If They Drop

Brent crude jumped to a nearly 13-year high of around $139 per barrel in March. Russia's war in Ukraine threatened to further disrupt oil supply in an already tight energy market. Although Brent...

Oil settles up despite OPEC+ output hike plan; supply still tight

OPEC+ agreed to boost output by 648,000 barrels per day (bpd) a month in July and August rather than 432,000 bpd as previously agreed. Oil settled higher on Friday, supported by expectations that...

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