Satellite image of Hurricane Francine on Sept. 11th, 2024. NOAA GOES EAST U.S. crude oil jumped more than 1% to trade above $68 per barrel on Thursday, after Hurricane Francine churned through the Gulf of Mexico, disrupting oil production before making landfall in Louisiana. Oil futures rose more than 2% in the previous session as … Read more
U.S. crude oil rebounded more than 2% on Wednesday, regaining some ground after prices closed at the lowest level in nearly three years in the previous session. Here are Wednesday’s energy prices: West Texas Intermediate October contract: $67.44 per barrel, up $1.69, or 2.6%. Year to date, U.S. crude oil has fallen 5.9%. Brent November contract: … Read more
U.S. crude oil futures on Tuesday fell more than 1%, shedding gains from the previous session as OPEC lowered its demand forecast for the second time in two months. OPEC now expects demand to grow by about 2 million barrels per day in 2024, some 80,000 bpd slower than its previous forecast. The group of … Read more
U.S. crude oil futures rebounded nearly 1% on Monday after posting the worst week since October 2023. The U.S. benchmark has fallen 15.8% so far in the third quarter while the Brent global benchmark has fallen more than 16.6%. “We have lost 400 million barrels of financial demand since early July,” Daan Struyven, oil research … Read more
A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., September 4, 2024. Brendan Mcdermid | Reuters This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they … Read more
Crude oil futures were on pace for a deep weekly loss, as the OPEC+ decision to postpone a production hike failed to ease worries that supply would outstrip demand. The Brent global benchmark has fallen 7.2% and is on pace for its worst week since October 2023. The U.S. benchmark is down 5.4% for its … Read more
U.S. crude oil rallied 2% on Thursday to trade above $70 per barrel, as OPEC+ delays plans to boost production after prices tumbled this week. OPEC+ members have delayed a production hike of 180,000 barrels per day by two months, two sources told CNBC. The production increase was originally scheduled for October. “There’s a number … Read more
A view of the pipelines at Zueitina oil terminal, in west of Benghazi, Libya February 3, 2020. Picture taken February 3, 2020. Esam Omran Al-fetori | Reuters U.S. crude oil gained more than 0.5% on Wednesday, rising from a nine-month low amid speculation that OPEC+ could delay a planned production increase slated for October. The … Read more
The Nvidia headquarters in Santa Clara, California, US, on Wednesday, Aug. 28, 2024. Loren Elliott | Bloomberg | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? … Read more
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments. Wall Street started the troublesome trading month of September with sharp declines. The S & P 500 , which closed its strong August on the upswing Friday, was down nearly … Read more
