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April 10, 2020
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ICE Brent Crude (Feb'20)

CNBC Business

Oil jumps ahead of ‘make-or-break’ OPEC meeting

CNBC
CNBC – For more and to sign up click here An OPEC sign hangs outside the OPEC Secretariat in Vienna, Austria, on Nov. 29, 2017. Akos Stiller | Bloomberg | Getty Images Oil prices moved higher on Thursday, ahead of a pivotal meeting in which OPEC and its allies, known......
CNBC Business

OPEC meeting to decide on historic output cuts

CNBC
CNBC – For more and to sign up click here Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman Al-Saud and Russian Energy Minister Alexander Novak at the start of an OPEC and NON-OPEC meeting in Vienna, Austria, December 6, 2019. Leonhard Foeger | Reuters Some of the world’s largest......
CNBC Business

Oil surges in sudden move toward the end of trading, production cuts eyed

CNBC
CNBC – For more and to sign up click here U.S. West Texas Intermediate crude surged more than 8% in a sudden move toward the end of trading. The surge followed a report from Bloomberg that the oil minister of Algeria said OPEC and its allies, known as OPEC+, was discussing......
CNBC Business

Oil prices could plunge below $20 a barrel in Q2 as demand craters: CNBC survey

CNBC
CNBC – For more and to sign up click here Oil storage tanks stand at the RN-Tuapsinsky refinery, operated by Rosneft Oil Co., in Tuapse, Russia, on Monday, March 23, 2020. Andrey Rudakov | Bloomberg | Getty Images The oil price bust may not be over.  A historic demand shock......
CNBC Business

Oil drops 9% following a record surge last week, as OPEC meeting on a production cut is delayed

CNBC
CNBC – For more and to sign up click here Oil prices dropped during overnight trading on Sunday after OPEC+ announced it was delaying its meeting initially scheduled for Monday, stoking fears on the Street that a production cut might face hurdles. U.S. West Texas Intermediate crude fell 9.2% to......
CNBC Business

OPEC+ set for meeting after Trump intervention

CNBC
CNBC – For more and to sign up click here Oil producer group OPEC and its partners will reportedly hold an emergency virtual meeting on Monday, with all members of the energy alliance expected to take part in an effort to stabilize markets. It comes less than 24 hours after......
CNBC Business

Oil rallies 30% after Trump says he expects Saudi-Russia feud to end

CNBC
CNBC – For more and to sign up click here Oil prices skyrocketed on Thursday after President Donald Trump told CNBC Saudis and Russia will ease pressure on oil, ending a price war that has contributed to crude’s massive plunge. West Texas Intermediate crude futures surged 22%, or $4.51 to trade......
CNBC Business

Trump tells CNBC he spoke to Putin, MBS and expects Saudis, Russia to announce 10 million barrel cut

CNBC
CNBC – For more and to sign up click here Russia’s President Vladimir Putin (R) and Saudi Arabia’s Crown Prince Mohammed bin Salman attend the G20 Leaders’ Summit in Buenos Aires, on November 30, 2018. Ludovic Marin | Getty Images This is a developing story. Check back for updates. President......
CNBC Business

Dow’s worst first quarter ever, S&P 500’s worst month since ’08

CNBC
CNBC – For more and to sign up click here The market is wrapping up a brutal quarter as investors search for a bottom in the fastest bear market ever amid the coronavirus crisis. The Dow Jones Industrial Average is on track to post its worst first quarter in history,......
CNBC Business

Oil drops more than 6% to 18-year low as global demand evaporates

CNBC
CNBC – For more and to sign up click here U.S. oil dropped to an 18-year low on Monday as demand continues to evaporate, and as Saudi Arabia and other OPEC+ nations prepare to ramp up production. With much of the world in lockdown as the coronavirus pandemic rages on,......
CNBC Business

April’s oil demand may plunge by 20 million barrels a day

CNBC
CNBC – For more and to sign up click here Processing towers stand at the RN-Tuapsinsky refinery, operated by Rosneft Oil Co., in Tuapse, Russia, on Monday, March 23, 2020. Andrey Rudakov | Bloomberg | Getty Images The oil market is facing a “double crisis” with a collapse in the......
CNBC Business

Oil drops as much as 8%, extending declines after worst week since 1991

CNBC
CNBC – For more and to sign up click here A worker on a an oil drill near New Town, North Dakota. Daniel Acker | Bloomberg | Getty Images Oil prices moved lower Sunday night, extending declines from the prior week, which saw U.S. West Texas Intermediate crude fall 29.31%......
CNBC Business

Oil plummets to near 18-year low, on pace for worst month ever

CNBC
CNBC – For more and to sign up click here A floorhand works on an oil rig in the Bakken shale formation outside Watford City, North Dakota. Getty Images Oil plummeted to a nearly 18-year low on Wednesday as the coronavirus outbreak continues to sap demand for crude, and as......
CNBC Business

Historic slide in oil could cost energy industry thousands of jobs

CNBC
CNBC – For more and to sign up click here Martin Divisek | Bloomberg | Getty Images This month’s historic swoon in oil prices has some on Wall Street worrying that crude will settle in a range under $40 a barrel. For the industry’s hundreds of thousands of workers, the......
CNBC Business

Oil drops 10%, breaking below $29 as demand evaporates

CNBC
CNBC – For more and to sign up click here Zhengsheng | Getty Images Oil prices slid more than 8% on Monday as the acceleration in coronavirus cases worldwide, which is bringing travel and business to a standstill, further dents global demand for crude. U.S. West Texas Intermediate crude dropped......
CNBC Business

Futures hit ‘limit down,’ ETFs point to massive losses at the open

CNBC
CNBC – For more and to sign up click here Traders work on the floor of the New York Stock Exchange (NYSE) in New York. Brendan McDermid | Reuters This is a live blog. Please check back for updates. 7:38 am: Coronavirus update The deadly coronavirus that has roiled markets in......
CNBC Business

Trump asks energy department to purchase oil for the strategic petroleum reserve

CNBC
CNBC – For more and to sign up click here US President Donald Trump speaks at a press conference on COVID-19, known as the coronavirus, in the Rose Garden of the White House in Washington, DC, March 13, 2020. Saul Loeb | AFP | Getty Images This is breaking news.......
CNBC Business

Australia stocks stage dramatic comeback as Asia markets trade wildly

CNBC
CNBC – For more and to sign up click here Stocks in Asia Pacific traded wildly on Friday after shares of Wall Street saw a historic drop overnight, as fears over the global coronavirus outbreak continued to weigh on investor sentiment. In Australia, shares recovered from earlier losses and made......
CNBC Business

The losers of the price war between Saudi Arabia and Russia

CNBC
CNBC – For more and to sign up click here Russian Energy Minister Alexander Novak and Saudi Energy Minister Abdulaziz Bin Salman sign documents during a ceremony following a meeting of Russian President Vladimir Putin with Saudi Arabia’s King Salman in Riyadh, Saudi Arabia, on October 14, 2019. ALEXEY NIKOLSKY......
CNBC Business

India could be a ‘major winner’ as oil prices plummet

CNBC
CNBC – For more and to sign up click here Indian and Nepalese citizens queue up with empty containers at a petrol pump in the Indian village of Panitanki. Diptendu Dutta | AFP | Getty Images Oil prices crashed this week, sparking a sharp global sell-off in capital markets — but experts......

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