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Industry News

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Hurricane Matthew strengthens to Category 4 with 140 mph winds

Hurricane Matthew was expected to strengthen yet again Thursday as it crawled toward the United States.
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Brent hits 4-month high, WTI tops $50 as OPEC keeps output cuts in focus

Oil prices hit new highs going back to June after a surprisingly large drop in U.S. inventory levels provided support.
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Natural gas inventories up 80B cubic feet

CNBC's Jackie DeAngelis reports the latest read of EIA natural gas inventories.
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Hurricane Matthew may hit gasoline prices in ways you wouldn't guess

Gasoline prices could whipsaw in the coming weeks as Hurricane Matthew causes gyrations in supply and demand in the Southeast.
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Saudi oil price cuts ‘fly in the face’ of deal to limit OPEC output

Saudi Arabia's decision to cut crude oil prices raises serious questions about the kingdom's commitment to limiting production, analysts said.
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Saudi Aramco poised to open its books ahead of IPO

Deputy crown prince Mohammed bin Salman believes planned listing of 5 per cent of oil giant could value it at more than $2 trillion.
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Morocco puts itself at vanguard of solar revolution

How is Morocco putting itself at the forefront of solar power?
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Shale industry given green light after UK delivers landmark ruling on fracking

The U.K. government has approved a horizontal fracking permit at a Cuadrilla site in Lancashire, northern England.
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Trump could boost US economy long-term: CEO

Jimmy Lee, CEO of Wealth Consulting Group, weighs in on his preferred stocks and how the upcoming U.S. presidential election could affect markets.
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Probability of OPEC deal 50/50: Analyst

Amrita Sen, chief oil analyst at Energy Aspects, says that oil producing nations must come up with co-ordinated action.
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Forget Iran, Iraq 'could throw spanner in the works' for OPEC deal

Iraq is increasingly looking like the potential dissenter in OPEC.
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Will OPEC deal help oil prices rise?

Valentijn van Nieuwenhuijzen, head of strategy, multi-asset, at NN Investment Partners, says he's not convinced oil prices will stabilize.
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Oil won't go above $66, not even in 2019: Analyst

There is a short-term floor on oil prices but rebalancing in oil is likely only in 2019, says Johannes Benigni, chairman of JBC Energy Group.
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Teapot refineries in China are having a moment

Bruce Wu, vice GM at Pacific Commerce, talks about independent oil refineries in China and the competitive advantages of being small in the energy industry.
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Commodities tomorrow: Crude flirts with $50

CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.
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OPEC, non-OPEC producers plan informal meet in Istanbul to discuss Algiers deal

OPEC and non-OPEC oil producers plan to meet in Istanbul to discuss how to implement a production deal OPEC members reached in Algiers last month.
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US crude settles up $1.14 at $49.83, highest close since June

Oil prices hit session highs on Wednesday after the U.S. government reported another surprise weekly drawdown in crude inventories.
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Crude nearly tops $50

CNBC's Jackie DeAngelis reports on the close of the oil market.
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There are actually politics behind the way hurricanes get named

The naming of hurricanes is a painstaking process. Here's a look at the politics and history behind picking storm names.
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Oil, stocks & yields higher

The "FMHR" traders and Yana Barton, Eaton Vance Management Portfolio Manager, discuss the bounce in the markets following positive economic data.
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