Oil rig pumpjacks, also known as thirsty birds, extract crude from the Wilmington Field oil deposits area near Long Beach, California July 30, 2013. David Mcnew | Reuters Crude oil futures rose Wednesday ahead of Federal Reserve Chairman Jerome Powell’s testimony before Congress and the release of U.S. inventory data. The West Texas Intermediate contract … Read more
An oil and gas industry worker walks during operations of a drilling rig at Zhetybay field in the Mangystau region, Kazakhstan, November 13, 2023. Turar Kazangapov | Reuters Crude oil futures fell for a second consecutive day Tuesday as China’s pledge to boost economic growth and OPEC+ production cuts failed to lift prices. The West … Read more
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. (We’re no longer recording the audio, so we can get this new written feature to members as quickly as possible.) AI trade: Market gains accelerated since … Read more
Lone pumpjack located in the middle of large solar array outside of Bakersfield, Kern County, California, USA. Citizens Of The Planet | UCG | Universal Images Group | Getty Images Crude oil futures rose more than 1% on Friday as signs point to a tightening market ahead of an OPEC+ decision on production cuts. The … Read more
The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria. Ramzi Boudina | Reuters Crude oil futures are headed for a second consecutive monthly gain as OPEC+ is expected to extend its production cuts through at least the second quarter. The West … Read more
The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Angus Mordant | Reuters Crude oil futures inched higher Wednesday as U.S. crude inventories rose while OPEC+ is considering extending its production cuts into the second quarter. The West Texas Intermediate contract for … Read more
Crude oil futures rose Tuesday amid uncertainty about the prospects for a cease-fire in the Israel-Hamas war and as some investors expect OPEC+ will extend its production cuts beyond the first quarter. The West Texas Intermediate contract for April rose 80 cents, or 1.03%, to $78.38 a barrel. Brent April futures rose 69 cents, or … Read more
U.S. President Joe Biden speaks during the annual National Prayer Breakfast at the U.S. Capitol in Washington, D.C., U.S., February 1, 2024. Evelyn Hockstein | Reuters Crude oil futures fell Tuesday after President Joe Biden indicated that a ceasefire in the Israel-Hamas war could come in the next week. The West Texas Intermediate contract for … Read more
Enbridge Energy’s storage facility in Cushing, Oklahoma. Justin Sullivan | CNBC Crude oil futures were slightly lower Thursday as a senior Israeli official sees initial signs of progress toward a deal to release hostages held in Gaza and as the market awaits for U.S. inventory data. The West Texas Texas Intermediate contract fell 47 cents, … Read more
Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016. Nick Oxford | Reuters Crude oil futures fell slightly Wednesday as the market waits for further indication of when the Federal Reserve might cut interest rates. The West Texas Intermediate contract for April was down 21 … Read more
