Where is Crude Oil Headed?

Dec. 2 2010 | A look at where crude Oil is headed, with Addison Armstrong, Tradition Energy; Peter Costa, Empire Executions and CNBC's Sharon Epperson.

Gold, Oil, Copper All Higher as New Month Begins

Gold and oil both are advancing Wednesday as the U.S. dollar backed away from its highest levels in two weeks ahead of European officials meeting on Thursday to work on steps to keep the region's debt problems from further spreading. Copper also is higher.

Gold, in particular, has benefitted in recent days from Euro-Zone uncertainty as investors sought out presumed safe havens. At last look, February gold was up $11 to $1397.10 an ounce, the first time in more than two weeks that the yellow metal has approached the $1,400 mark.

The front-month crude oil contract is $1.27 higher at $85.37 a barrel, climbing past Tuesday's settlement price after earlier sinking to a low of $83.63 yesterday afternoon, soon after the end of the NYMEX floor session. Brent crude has followed roughly the same path in London trade overnight, with the January contract up 1.6% to $87.30 a barrel.

Copper is rising this morning after faster-than-expected manufacturing growth in China and increasing U.S. consumer confidence boosted the outlook for the global economy. The gain is boosting diversified miners, with BHP Billiton (BHP) and Rio Tinto (RIO) both climbing more than 2% in Wednesday pre-trade.

One possible limit on industrial metals today, however, could be warnings from a senior executive of JFE Steel Corp. that steel inventories in Japan are too high after an industry report this morning showed that steel stocks hit a 22-month high of 6.53 million tons at the end of October.

Oil price down 25 cents to $ 83.61 per barrel

Oil prices declined today on electronic markets in Asia, with the crude duty pay for the crisis triggered by some European countries (Ireland, Spain, Portugal) and which, according to analysts, could have an impact on oil demand. The barrel for delivery in January, is trading at 83.61 cents, down 25 cents (-0.3%) on the Singapore market than yesterday. But no comparison with U.S. markets closed yesterday for Thanksgiving.

Oil Prices to Push Higher

Thio Chin Loo, senior currency strategist at BNP Paribas, speaks to CNBC’s Chloe Cho, Anna Edwards and Yousef Gamal El-Din about the impact of yuan revaluation on oil prices and commodity currencies.

Crude Prices Could Drop

John Licata, chief investment strategist at Blue Phoenix and Shane Oliver, head of investment strategy and chief economist, AMP Capital Investors talk crude prices with CNBC's Amanda Drury & Sri Jegarajah.

Oil Prices Rise To Start 2010 As Dollar Weakens

01/04/09 Front month crude prices were on the upside this session following a weaker US dollar and an advance in global equities.

Oil falls below $73 on Dubai default worries creditors

Crude Oil prices sank to a 6 week lows , below $73 in New York on Friday amongst fears that Dubai could default the financial markets ,It is now reported that Dubai Debt May Be Higher Than $80 Billion, the dollar jumped as investors started selling commodities and moved to safer assets.

U.S. crude for January delivery was $73.70 a barrel on the London-based ICE Futures Europe exchange, but nearly 5 percent below Wednesday's settlement. There was no settlement price on Thursday because U.S. markets were closed for Thanksgiving.
Source : Presse agencies

Crude Oil Dips To Close Week 06 November 2009

11/06/09 Front month crude prices took a dive this session as a rise in the US unemployment rate paved the way for concerns over a future lack of demand for energy




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Oil Spike Threatens Recovery: Is $80 the New $100?

Crude oil prices surged to a 12-month high above $80/barrel Wednesday as the U.S. dollar tumbled to a 14-month low, prompting investors to embrace hard assets such as oil and gold. (Oil prices slipped under $80/barrel Thursday as the dollar enjoyed a reprieve from its recent rout.)

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Oil Cheap Relative To S&P says Expert

S&P oil price ratio

Oil plays such a fundamental role in the economy; The S&P needs to gain 55% to keep in line with historical data.

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$85 Oil and the Markets

What $85 oil would mean to the markets, with Jack Albin, Harris Private; Tom Lydon, ETFTrends.com; Scott Redler, T3live.com.
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Oil Prices Keep on Chugging

Oil Prices at One Year High, What's Behind the Rally? - Analysis and Discussion with Morgan Downey of Standard Chartered Bank (Bloomberg News)

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Oil Prices to Remain Inflated but Do not Pass on Gas

Ranked #3 on Forbes' Best Brokerage Analysts for 2009, Oppenheimer Senior Analyst Fadel Gheit sat down with The Energy Report to shed light on existing conditions in the oil and gas sector. In terms of oil prices, "financial players are more in control now than oil companies or OPEC," according to Fadel, who is currently more bullish on gas than on oil. "Despite the fact that gas stocks gained significantly this year," he says, "we think the upside potential remains great."

The Energy Report: Why is there such a high ratio and differential between natural gas and oil right now?

Fadel Gheit: Because oil is a global commodity; gas is a regional commodity. You can have a huge discrepancy in gas prices from country to country, from continent to continent, because of a lack of adequate transportation— the means of shipping to take gas from where it's found in abundance to where it's needed. For example, gas in the Middle East has no value because there is no local market for it. Most of the oil-producing countries actually flare gas because, basically, they use gas, you call it, as a drive. They use gas to pump it back in the oil field instead of water, because they don't have water, so they use natural gas that comes as a co-product with oil to pump it back into the wells to push oil because that's what they want. They want oil; they don't want gas.
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Oil Demand Does not Bode Well for Recovery Halff Says

Oct. 7 (Bloomberg) Antoine Halff, head of energy research at Newedge USA LLC, talks with Bloombergs Margaret Brennan about crude-oil demand and the outlook for oil prices. Crude oil retreated after a U.S. Energy Department report showed that inventories of gasoline and distillate fuel, a category that includes heating oil and diesel, increased as refineries bolstered operating rates. Oil also fell as the rising dollar reduced the appeal of energy to investors looking for an inflation hedge. (Source: Bloomberg)

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Halff Says Oil Demand Doesn't Bode Well for

Oil Prices continue to fall

Oil falls as unemployment rises

Outlook For Oil Prices
Sept. 7 (Bloomberg) -- Crude oil traded near $68 a barrel on speculation OPEC will maintain curbs on output as supplies stay ample at the end of the U.S. peak summer demand season.
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Oil could hit $300 a barrel says Pickens

Oil tycoon and author of The Pickens Plan , Boone Pickens speaks about Oil , the Current commodities rally , cash for clunkers for coal plans , natural gas 18 wheelers and much more ...etc..
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Russian Lukoil Beats Estimates , Oil price rising

Interview and discussion with the Director for Strategic Development of Lukoil, Andrei Gaidamaka. He says crude inventories fall, but still at high levels. (Bloomberg News)
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Oil price rally despite weak demand

Oil high despite weak demand
Aug 24, 2009
Expensive oil and a weak dollar might hinder an economic recovery.

Charting Oil Gold and Forex

Howard Friend from MIG Investments takes a technical look at the oil, gold and the euro versus the dollar.

CNBC's Brian Shactman discusses the day's activity in the commodities markets, and looks ahead to where oil is likely headed tomorrow

Oil Price Volatile

One Year Anniversary of Oil's Intraday Record High - Analysis and Discussion with Maynard Holt of Tudor, Pickering, Holt & Co. (Bloomberg News)
Oil closed 2008 at $44.60 after falling from $147 nearly a year ago. Crude then surged from below $35 in March in part on investor concern that massive U.S. fiscal stimulus spending will eventually spark high inflation. Investors often buy commodities such as crude as a hedge against a weakening dollar and inflation.


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