File photo of Israeli F-16 fighter jets performing during an air show over the beach in the Israeli coastal city of Tel Aviv on May 5, 2022. Jack Guez | Afp | Getty Images Crude oil futures rose Friday on reports that Israel is preparing for a direct attack by Iran this weekend, in what … Read more
Federal Reserve Bank Chair Jerome Powell speaks during a news conference at the bank’s William McChesney Martin building on March 20, 2024 in Washington, DC. Chip Somodevilla | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on … Read more
Federal Reserve Bank Chair Jerome Powell speaks during a news conference at the bank’s William McChesney Martin building on March 20, 2024 in Washington, DC. Chip Somodevilla | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on … Read more
Oil production in Azerbaijan Vostok | 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? You can subscribe here. What you need to know today Weak quarterly kickoffJapan … Read more
A Mobil gas station in Los Angeles, California, US, on Tuesday, April 2, 2024. US crude futures hit $85 a barrel in New York for the first time since October, as OPEC+ supply cuts underpin a steadily strengthening market. Bloomberg | Bloomberg | Getty Images Crude oil futures rose Thursday, recouping losses from earlier in … Read more
A flare stack burns beyond oil storage tanks at the Taneco Oil Refining and Petrochemical complex, operated by Tatneft PJSC, in Nizhnekamsk, Tatarstan, Russia, on March 5, 2019. Bloomberg | Bloomberg | Getty Images Oil prices on Tuesday rose to their highest level since October as investors closely monitored fresh supply threats amid an escalating … Read more
A pump jack operates in front of a drilling rig at sunset in an oil field in Midland, Texas U.S. August 22, 2018. Nick Oxford | Reuters Crude oil futures rose in the first day of second-quarter trading Monday amid reports that the Iranian consulate in Damascus was hit by a missile strike. The West … Read more
An oil pumpjack operates in Los Angeles on July 31, 2023. Mario Tama | Getty Images Crude oil futures posted a weekly loss as lackluster demand out of China collided with a market that the International Energy Agency views as well-supplied. The West Texas Intermediate contract for April fell 92 cents, or 1.17%, to settle … 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 U.S. crude oil futures topped $80 a barrel for the first time in nearly four months, as signs point to a tightening market ahead of … Read more
The oil market will face a supply shortage by the end of 2025 as the world fails to replace current crude reserves fast enough, Occidental CEO Vicki Hollub told CNBC on Monday. About 97% of the oil produced today was discovered in the 20th century, she said. The world has replaced less than 50% of … Read more