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☆ Oil prices rise on Middle East tensions
▼ + stars: | 2024-01-05 | by ( ) www.cnbc.com time to read: +2 min

Oil prices gained on Friday, as U.S. Secretary of State Antony Blinken prepared to visit the Middle East to try and prevent the Israel-Gaza conflict from widening. The price rebound serves as "a reminder of the risk that is rooted in ever-growing tension in the Middle East," PVM analyst Tamas Varga said in a note. As the threat of the conflict expanding persists, Blinken was set to travel to the Middle East for a week of diplomacy, the State Department said. "There is still plenty of tension in the Middle East with Houthi rebels launching a sea drone in the Red Sea, a U.S. airstrike in Baghdad," ING analysts said in a report on Friday. Euro zone inflation rose in December and could continue rising in early 2024, which would ease pressure on the European Central Bank to start cutting rates.

Persons: pumpjack, Antony Blinken, Tamas Varga, Blinken, Investors Organizations: Brent, U.S, West Texas, State Department, ING, European Central Bank, Federal Locations: Bakersfield, Kern County , California, USA, Israel, Gaza, Red, U.S, Baghdad

☆ Oil is the ‘most investable space’ in the economy with prices set to spike on Fed cuts, analyst says
▼ + stars: | 2024-01-04 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

"It is the most investable space out there in the economy right now," Jeff Currie told CNBC's " Squawk Box " on Thursday. "I don't care how bearish you get on fundamentals this year — if you see the Fed cut, you don't want to be short commodities," Currie said. Rather, it was the result of a "one-off increase in supply" that the market will absorb, he said. "It wasn't created by investment or a slowdown in demand," Currie said of the price drop. "It was created by a one-off increase in supply that the system can either absorb, or that one-off increase in supply goes away."

Persons: Goldman Sachs, Jeff Currie, CNBC's, we're underinvested, Currie Organizations: Goldman, Federal, West Texas, West Locations: Iran, Russia, Venezuela, Western

☆ Oil prices rise more than 3% as U.S. warns Houthis against Red Sea attacks, OPEC pledges unity
▼ + stars: | 2024-01-03 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Oil rose more than 3% on Wednesday as the U.S. warned Houthi militants against further attacks in the Red Sea and OPEC pledged to remain united in supporting prices. This comes a day after Danish shipping giant Maersk halted all shipping through the Red Sea until further notice due to repeated Houthi attacks on vessels. German shipping company Hapag-Lloyd confirmed Wednesday that it would continue to avoid the Red Sea. Oil prices have been volatile this week, with U.S. crude and the global benchmark settling more than 1% lower on Tuesday despite Maersk's decision to continue avoiding the Red Sea due to attacks by the Houthis. OPEC and its allies issued a statement Wednesday pledging to remain united in the group's "efforts to maintain oil market stability going forward."

Persons: Brent, Lloyd, John Kirby, Kirby, Amrita Sen, We've, we're, Sen Organizations: Houthi, Reuters, The West Texas Intermediate, CMA, CNBC, Maersk, Security, OPEC, Traders, CNBC PRO Locations: Sea, Libya, Yemen, Iran, The U.S, United States, U.S, China . U.S

☆ These Middle East flashpoints could trigger regional conflict that impacts oil prices
▼ + stars: | 2024-01-03 | by ( Spencer Kimball | ) www.cnbc.com time to read: +9 min

There are several key flashpoints where the Israel-Hamas war could escalate into a regional conflict that has a material impact on oil, according to the firm. Those flashpoints are the Red Sea, Lebanon and Iraq, analyst Helima Croft wrote in a note to clients this week. Crude prices fell Tuesday despite renewed attacks by Houthi militants in the Red Sea over the weekend. Maersk stopped shipping through the Red Sea again and is rerouting vessels around the Cape of Good Hope in South Africa. Some 12% of global trade and about 3 million barrels of crude oil pass through the Red Sea per day, according to RBC Capital Markets.

Persons: Helima Croft, Croft, Adi Imsirovic, Imsirovic, Steven Schoenfeld, Schoenfeld, Goldman Sachs, Tehran's Houthi, Donald Trump ratcheted, Biden, Benny Gantz, Israel, Saleh al, Joe Biden, Trump, Qasem Soleimani Organizations: RBC Capital Markets, Maersk, West Texas Intermediate, CNBC, Tuesday, Traders, Investors, Center for Strategic, International Studies, U.S, Prosperity, U.S . Navy, U.S . Central Command, JPMorgan, Israel Defense Forces, Three U.S, Washington Locations: Israel, Sea, Lebanon, Iraq, Red, Danish, Libya, Russia, Ukraine, Iran, U.S, Yemen, The U.S, Mandeb, Aden, Britain, Hangzhou, South Africa, Suez, Asia, Europe, Hormuz, Islamic Republic, Tehran, Beirut, Croft, Erbil, Three

A picture taken during an organised tour by Yemen's Houthi rebels on November 22, 2023 showing the Galaxy Leader cargo ship approaching the port in the Red Sea off Yemen's province of Hodeida. Oil prices fell Tuesday as traders monitored rising tensions in the Red Sea amid a backdrop of record U.S. crude production and worries about demand in China. Crude prices had jumped more than 2% earlier in the trading session on escalating tensions in the Red Sea, a crucial global trade chokepoint. And Iran on Monday deployed a destroyer to the Red Sea, according to the country's Tansim news agency. The move by Tehran comes after U.S. Navy helicopters destroyed three boats of Iran-backed Houthi rebels.

Persons: Yemen's Houthi, Brent, Helima Croft, Croft, Adi Imsirovic, Ayatollah Ali Khamenei, Neil Beveridge, Lloyd Organizations: Galaxy Leader, The West Texas Intermediate, RBC Capital Markets, CNBC, Center for Strategic, International Studies, Monday, U.S . Navy, Navy, U.S . Central Command, Energy, Prosperity Locations: Red, Yemen's, Hodeida, China, The, Iran, Tehran, Singapore, Hangzhou, Brent, Israel, Gaza, Suez, Africa, The U.S

☆ Why investors should only trade a name like Linde on fundamentals
▼ + stars: | 2023-12-13 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

U.S. stocks were slightly higher Wednesday morning as investors awaited the Federal Reserve's latest interest-rate decision at 2:00 p.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Linde, Oppenheimer, —, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Labor Department, Treasury, West Texas, Seagen, Costco, LIN

☆ Occidental Petroleum to buy Permian producer CrownRock for $12 billion, raise dividend
▼ + stars: | 2023-12-11 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

Occidental will issue $9.1 billion in debt and about $1.7 billion in common stock to finance the transaction. Occidental Petroleum on Monday agreed to buy CrownRock , a major privately held energy producer that operates in the Permian Basin, for $12 billion. Occidental CEO Vicki Hollub said the company is purchasing CrownRock to increase its scale in the Midland Basin. Occidental is the ninth-largest energy company in the U.S. with a market capitalization of $49.7 billion. Occidental's purchase of CrownRock is the third major deal in the energy sector in less than two months.

Persons: Vicki Hollub, Hollub, CNBC's, CrownRock, Timothy Dunn, Warren Buffett's, Warren Buffett's Berkshire Hathaway, Berkshire Hathaway, Buffett, Carl Icahn, Enverus, Weeks, Hess Organizations: Midland Basin, U.S . Energy Information Administration, U.S, Occidental Petroleum, Occidental, Endeavor Resources, Houston, Lime Rock Partners, Warren Buffett's Berkshire, Anadarko Petroleum, Exxon Mobil, Natural Resources, Chevron, Pioneer, Texas Intermediate, CNBC, Energy Information Administration Locations: Occidental, Midland, Texas, U.S, Warren, Berkshire, CrownRock

☆ Why Broadcom is still a solid AI play following a murky quarter
▼ + stars: | 2023-12-08 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Nonfarm, Dow Jones, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Dow, Labor Department, West Texas, Club, Honeywell, Broadcom, Wall, VMware, AVGO

☆ U.S. crude oil falls below $70 a barrel, closing at the lowest level since June
▼ + stars: | 2023-12-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

U.S. crude declined 4% on Wednesday, closing at the lowest level since late June with retail gasoline prices hitting the lowest point since January just ahead of the holiday shopping and travel season. Meanwhile, U.S. data on Wednesday sent a mixed picture on demand with crude inventories falling while gasoline stocks rose. U.S. crude inventories fell by 4.6 million barrels for the week ending Dec. 1 but gasoline inventories rose by 5.4 million barrels, according to the Energy Information Administration. Several OPEC+ members announced the voluntary cuts last week after the group failed to reach a unanimous agreement on production targets. Tamas Varga, an analyst with PVM Oil Associates, said those reassurances have "fallen to deaf ears."

Persons: Brent, Prince Abdulaziz bin Salman, Alexander Novak, Tamas Varga Organizations: West Texas Intermediate, AAA, Hamas, Wednesday, Energy Information Administration, Saudi Energy, PVM Oil Associates Locations: Washington , DC, U.S, OPEC, Moody's, Israel, Russia, Russian

☆ Jim Cramer says buy P&G, Starbucks on unwarranted pullbacks
▼ + stars: | 2023-12-05 | by ( Jeff Marks | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. But Jim Cramer urged investors to look past the headlines and stick with this solid name that boasts a $350 billion market capitalization. Club holding Eli Lilly (LLY) said Tuesday that its recently approved obesity treatment Zepbound is now available in U.S. pharmacies . As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Procter, Jim, —, Eli Lilly, LLY, Lilly, Jim Cramer's Organizations: CNBC, Nasdaq, Labor, Treasury, West Texas, Club, Procter, Gamble Locations: Argentina, Nigeria, China, U.S

☆ Oil prices steady amid OPEC+ cut doubts, Mid-East tension
▼ + stars: | 2023-12-05 | by ( ) www.cnbc.com time to read: +1 min

Oil prices held steady on Tuesday amid uncertainty over voluntary output cuts by OPEC+ and as continued tension in the Middle East spurred supply concern. Oil prices had declined in the previous trading session as traders doubted that supply cuts by OPEC+ would have a significant impact, and as a stronger U.S. dollar weighed on commodity prices in general, said CMC Markets analyst Tina Teng. A stronger dollar typically makes oil more expensive for holders of other currencies, which could dampen oil demand. Saudi Arabia's energy minister, Prince Abdulaziz bin Salman, told Bloomberg in an interview on Monday that OPEC+ oil production cuts can "absolutely" continue past the first quarter if needed. Those incidents followed a series of attacks in Middle-Eastern waters since war broke out between Israel and Palestinian militant group Hamas on Oct. 7.

Persons: Tina Teng, Prince Abdulaziz bin Salman Organizations: Brent, U.S, West Texas, of, Petroleum, Bloomberg, Hamas Locations: Russia, OPEC, Saudi Arabia, Saudi, Israel, Red, Palestinian

☆ Why investors should stick with Palo Alto Networks long term
▼ + stars: | 2023-12-04 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Persons: Jim Cramer, Emerson, We're, Morgan Stanley, Jim Cramer's, Jim Organizations: CNBC, Big Tech, Nasdaq, Labor, Treasury, West Texas, Emerson, National Instruments, Club, Palo Alto Networks Locations: Friday's, Eaton, pullbacks

☆ Oil climbs as Mideast tension back in focus
▼ + stars: | 2023-12-04 | by ( ) www.cnbc.com time to read: +2 min

Oil futures rose on Monday as geopolitical tension in the Middle East returned to focus, spurring concerns about supply from the region, but uncertainty over OPEC+ voluntary output cuts and global fuel demand growth clouded the sector's outlook. Brent crude futures climbed 28 cents, or 0.4%, to $79.16 a barrel by 0018 GMT, while U.S. West Texas Intermediate crude futures were at $74.36 a barrel, up 29 cents, or 0.4%. "A re-emergence of geopolitical tension over the weekend has come to the aid of an ailing crude oil price on the reopen this morning," IG markets analyst Tony Sycamore said. The resumption of the Israel-Hamas war fueled the bullish momentum for oil prices, CMC Markets analyst Tina Teng said. "However, oil prices may continue to be under pressure for the time being due to China's disappointing economic recovery and the ramp-up of U.S. production," Teng said.

Persons: Brent, Tony Sycamore, Israel's, Tina Teng, Teng, Baker Hughes, Mike Tran Organizations: Chevron Corporation, U.S, West Texas, IG, CMC, Organization of, Petroleum, RBC Capital, Washington Locations: San Ardo , California, Middle, Gaza, Israel, U.S, Russia, Moscow, Ukraine, Venezuela, India

[1/2] Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 1, 2023. The Pentagon said it was aware of reports regarding attacks on an American warship and commercial vessels in the Red Sea on Sunday, while Yemen's Houthi group claimed drone and missile attacks on two Israeli vessels in the area. Such worries flared after Hamas’ Oct. 7 attack into southern Israel but subsided in recent weeks. Quincy Krosby, chief global strategist at LPL Financial, said a widening conflict could push some investors to take profits on the recent rally in stocks. Signs of an intensifying Middle East conflict could also boost oil prices, which have slumped in recent weeks.

Persons: Brendan McDermid, Yemen's, Quincy Krosby, ”, “, Phil Orlando, Federated Hermes, Santa Claus, Orlando, I'm, Krystal Hu, Ira Iosebashvili, Chizu Organizations: New York Stock Exchange, REUTERS, Hamas, Pentagon, Reuters, LPL, U.S ., Federated, West Texas, Thomson Locations: New York City, U.S, American, Israel, United States, Iraq, Iran, Santa

☆ Oil prices set for sixth straight weekly fall as OPEC+ cuts underwhelm
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Tatiana Meel/File Photo Acquire Licensing RightsDec 1 (Reuters) - Oil prices extended losses on Friday, and looked set for a sixth straight week of declines, as voluntary oil output cuts agreed by OPEC+ producers fell short of market expectations. Saudi Arabia, Russia and other members of OPEC+ agreed to voluntary output reduction of 900,000 bpd in addition to extending 1.3 million bpd in production cuts already in place. Delegates had earlier discussed as much as 2 million bpd in new output curbs. Goldman Sachs said its December forecast for Brent was "moderately tilted" to the downside of its previously estimated range, calling the oil producers' move a "temporary response," and "difficult to implement." Separately, Brazil said on Thursday it would join the OPEC+ next year, though such a move wouldn't bind the south America's largest country to production cuts.

Persons: Tatiana Meel, Brent, Goldman Sachs, Goldman, Laura Sanicola, Stephen Coates, Kim Coghill Organizations: REUTERS, OPEC, Brent, . West Texas, Thomson Locations: Nakhodka, Russia, Saudi Arabia, UAE, Iraq, Kuwait, Kazakhstan, Algeria, Brazil, OPEC

☆ Asia shares start Dec on cautious note, oil nurses losses
▼ + stars: | 2023-12-01 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.5% after a surge of 7.3% last month, the most since January. The Federal Reserve's preferred gauge of inflation - the personal consumption expenditures (PCE) price index - stood unchanged for October, while consumer spending also pulled back. Fed funds futures imply rate cuts of 115 basis points. The yield on 10-year Treasury notes slipped 3 basis points in Asia to 4.3264%, on top of a plunge of 52.2 basis points for the month. Two-year Treasury yields fell 4 basis points to 4.674%.

Persons: Tyrone Siu, sharemarkets, HSI, Rodrigo Catril, Jerome Powell's Q, Waller, Robert Carnell, Christopher Waller, Treasuries, Stella Qiu, Jamie Freed Organizations: REUTERS, Tyrone, Rights, Japan's Nikkei, National Australia Bank . Regional, Federal, Traders, ING, Fed, South Korean, Philippine, Brent, West Texas, Thomson Locations: Exchange, Hong Kong, China, Europe, U.S, Asia, Pacific, Japan, South

☆ Trump’s avalanche of dishonesty: Fact-checking 102 of his false claims from this fall
▼ + stars: | 2023-12-01 | by ( Daniel Dale | ) edition.cnn.com time to read: +111 min

Below is a fact check of 102 of Trump’s false claims from the 12 speeches. But contrary to Trump’s claim, it’s not true that people had been attempting for decades to create such an initiative. Trump’s aid to farmersIn speech after speech, Trump claimed that he had given US farmers $28 billion from China. Even if the poll result is off, it’s clear that Trump’s claim that “nobody wants them” is not true. He said he was an airline pilot.”Facts First: Trump made a false claim while mocking Biden for making false claims.

Persons: Donald Trump, –, Trump, Joe Biden, Biden, Ron DeSantis, Nikki Haley, “, ”, Mexico’s, ‘ Trump, Defense Department –, ” Theresa Cardinal Brown, CNN’s Priscilla Alvarez, ” Trump, I’ve, Todd Harrison, Harrison, It’s, Trump’s, ” Ben Cahill, Nobody, Jimmy Carter’s, Barack Obama, isn’t, El Salvador –, Obama, we’d, Obama’s, Webster, Covid, Wuhan ”, They’d, they’d, you’d, Scott Gottlieb, ” Gottlieb, Trump Trump, it’s, Abraham, Aaron David Miller, Miller, Dana El Kurd, Qasem Soleimani, they’ve, we’re, We’re, ’, Iran haven’t, ” Matt Smith, Biden’s, Smith, Ali Vaez, Kpler, Biden Trump, Iran “, Democrats ”, that’s, Jimmy Carter, Carter “, Carter, ‘, Hillary Clinton, Kari Lake, Bill Gates, Gates, ” Chris Wallace, Chris Wallace, Hunter Biden, “ Chris Wallace, ‘ He’s, ‘ ” Trump, Wallace, “ you’re, “ Biden, ‘ You’re, Wallace interjected, Rather, you’ve, ’ ” Pavel Molchanov, Raymond James &, ” Molchanov, Tim Woody, Woody, autoworkers, CNN’s Ella Nilsen, Joe Biden’s, Erin Mellon, Gavin Newsom, Mellon, ” Vonette Fontaine, Biden “, CNN’s Matt Egan, Egan, ” Biden, Europe Trump, United Kingdom “, Brent, Pavel Molchanov, Raymond James, Patrick De Haan, GasBuddy, De Haan, Matt Smith, Matt Egan, Afghanistan Trump, we’ve, Krista Wiegand, Wiegand, ” Netanyahu, Benjamin Netanyahu, Israel, Qasem, Bibi, Netanyahu, Soleimani, Asad, Mark Milley, Hezbollah Trump, Steven Cheung, John Kirby, Cheung, Kirby, Iran’s, ” Ali Vaez, Joseph Amon, Washington –, Faiq Zidan, Zidan’s, Zidan, Abu Mahdi al, China Trump, Ukraine Trump, Letitia James, James, Attorney Alvin Bragg, Matthew Colangelo, You’re, Bragg, Colangelo, Tanya Chutkan, I’m, Jack Smith, Bill Clinton, That’s, everybody’s, Letitia James –, Al Capone’s, Al Capone, Capone, Brad Schwartz, CNN couldn’t, Schwartz, Eliot Ness, MAGA, “ MAGA, …, White, CNN’s Fareed Zakaria, Inflation Trump, Bacon, Joe, PolitiFact, Trump . Howard Gleckman Organizations: Washington CNN —, CNN, Republican, Trump Trump, Republican Jewish Coalition, Department, ISIS, Trump’s, Democratic, Congress, Defense Department, former Defense Department, Center, US Customs, Trump, American Enterprise Institute, Air Force, Army, Navy, Marine Corps, Strategic Petroleum Reserve, Energy Security, Center for Strategic, International Studies, US, IHS, Islamic, The State Department, Customs Enforcement, Policy Institute, ICE, El Salvador, ”, Merriam, The New York Times, Food and Drug Administration, FDA, Abraham Accords, United Arab Emirates, West Bank, Hezbollah, State Department, Carnegie Endowment, International, Arab Center Washington DC, Islamic Revolutionary Guards Corps Quds Force, Obama, US International Trade Commission, Washington Post, U.S . International Trade Commission, New England lobstermen, England lobstermen, Americas, Crisis, government’s Energy, Administration, Washington Free Beacon, Energy Information Administration, Democrats, Biden, Electoral, Georgia, Michigan, Carter, Democrats can’t, Republicans, Alabama, Arizona, Fox News, ” Energy, Oceanic, Atmospheric Administration, NOAA, Wildlife, Alaska Industrial Development, Export Authority, Raymond James & Associates, Wilderness Society, Cox Automotive, Pew Research Center, New York Times, National Oceanic, California Gov, California, American Petroleum Institute, Union, West, Energy, American Automobile Association, AAA, GasBuddy, New Hampshire, Houston, Keystone XL, Obama administration’s State Department, –, Foreign, Military, DoD, Afghan, Defense, Policy, Taiwan News, “, University of Tennessee’s Center for National Security, Foreign Affairs, Israeli, NBC, Jerusalem Post, Yahoo, Pentagon, ” CNN, Joint Chiefs, Staff, Post, National Security, Group, US government’s Defense Intelligence Agency, Narcotics Bureau, Global Health, Drexel University Dornsife School of Public Health, Justice Department, Washington, Judicial, Popular Mobilization Forces, Customs and, Middle East, Customs, Protection, CBP, Border Protection, Kiel Institute, European Union, New York, New, ExxonMobil, Trump University, Trump Foundation, Manhattan, Attorney, federal Justice Department, Department of Justice, Washington DC, Presidential Records, Presidential, Mar, Biden White, MAGA Republicans, Inflation, Heritage Foundation, Trump ., Brookings Tax, Urban Institute Locations: New Hampshire, New York City, Saudi, Florida, al Qaeda, New York, Texas, Iowa, Mexico, “, U.S, Houston, Iraq, Israel, Tel Aviv, Jerusalem, Nord, Germany, Russian, Trump’s, Russia, Ukraine, Europe, Guatemala, Honduras, El Salvador, El, Washington, ”, ” In Texas, Covid, China, Wuhan, Italy, France, Abraham, Bahrain, Morocco, Sudan, Gaza, Lebanon, Syria, Iran, Yemen, Libya, Palestine, Afghanistan, Somalia, Pakistan, New England, England, Kpler, Malaysia, Oregon, Alabama, Maricopa County, Arizona, Arizona’s, Moscow, Alaska, East, South Carolina, California, “ California, West Virginia, Virginia, United Kingdom, West Texas, “ U.S, Los Angeles, Venezuela, Mississippi , Louisiana, Canada, United States, Paris, Taiwan, “ China, Iranian, that’s, –, Singapore, Iraqi, San Diego, Kiel, York, Manhattan, York’s, Chicago, Philadelphia, Georgia, Qaeda

☆ Oil prices fall, extend slide after OPEC+ cuts underwhelm
▼ + stars: | 2023-12-01 | by ( ) www.cnbc.com time to read: +2 min

An oil pumpjack pulls oil from the Permian Basin oil field in Odessa, Texas, on March 14, 2022. Oil prices fell in early Asian trade on Friday, extended losses after OPEC+ producers agreed to voluntary oil output cuts for the first quarter next year that fell short of market expectations. OPEC+'s output of some 43 million bpd already reflects cuts of about 5 million bpd aimed at supporting prices and stabilizing the market. The total curbs amount to 2.2 million bpd from eight producers, OPEC said in a statement after the meeting. Included in this figure is an extension of the Saudi and Russian voluntary cuts of 1.3 million bpd.

Persons: Alexander Novak Organizations: Brent, . West Texas, OPEC, Saudi Locations: Odessa , Texas, Saudi Arabia, Russia, UAE, Iraq, Kuwait, Kazakhstan, Algeria

☆ How Salesforce 'hit the trifecta' with its quarterly results
▼ + stars: | 2023-11-30 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Persons: Jim Cramer, Morgan Stanley, Salesforce, EBIT, Ford, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Commerce, Treasury, Organization of, Petroleum, West Texas, Club, Ford, General Motors

☆ Oil Producers Fail to Agree on More Production Cuts
▼ + stars: | 2023-11-30 | by ( Stanley Reed | More About Stanley Reed | ) www.nytimes.com time to read: +1 min

The oil producers group known as OPEC Plus met on Thursday and failed to announce new production cuts in the face of sagging prices, but Saudi Arabia later said that it would continue to trim output by one million barrels a day through March, in coordination with some other countries that were not named. Oil traders, who may have expected more substantial cuts, had a chilly response to the news. Futures fell for the day, with Brent crude down 0.4 percent, to $82.80 a barrel, and West Texas Intermediate falling more than 3 percent, to $75.25. News reports of production cuts preceded the meeting. OPEC Plus said that Brazil, an oil giant that until now has not been part of the producers group, was expected to join next year.

Persons: Brent, ”, Richard Bronze, Alexandre Silveira de Oliveira Organizations: West Texas, Plus Locations: Saudi Arabia, Brazil

☆ U.S. crude declines as skepticism mounts over OPEC+ cuts
▼ + stars: | 2023-11-30 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

U.S. crude declined Thursday, erasing early gains, as traders grew more convinced that OPEC+, a group composed of OPEC plus its oil-producing allies, will not deliver on promised output cuts. Riyadh agreed to extend its voluntary production cut of 1 million barrels per day, a source in the Energy Ministry told the Saudi Press Agency. Iraq is cutting by 223,000 bpd, the United Arab Emirates 163,000 bpd, Kuwait 135,000 bpd, Kazakhstan 82,000 bpd, Algeria 51,000 bpd and Oman 42,000 bpd. OPEC+ has a major problem when it comes to cohesion and compliance on output cuts, said John Kilduff of Again Capital. "They have their hands full and to me it's not going to prove to be a winning strategy for them," he said of the output cuts.

Persons: Brent, Alexander Novak, Phil Flynn, Flynn, John Kilduff, Kilduff, CNBC's, it's Organizations: West Texas Intermediate, Energy Ministry, Saudi Press Agency, United Arab Emirates, Traders, Price Futures, U.S, OPEC, CNBC PRO Locations: OPEC, Saudi Arabia, Riyadh, Iraq, Kuwait, Kazakhstan, Algeria, Oman, Russia, Asia, China

☆ Oil prices fall on weak demand indicators, China data
▼ + stars: | 2023-11-30 | by ( ) www.cnbc.com time to read: +1 min

An oil pumpjack is seen near a field of wind turbines on October 04, 2023 in Nolan, Texas. Oil prices fell in early Asian trade on Thursday on weaker-than-expected Chinese manufacturing data, but investors maintained caution ahead of an OPEC+ meeting where production cuts are expected. Brent crude futures fell 28 cents, or 0.3%, to $82.90 a barrel by 0024 GMT, while U.S. West Texas Intermediate crude futures fell 24 cents, or 0.3%, to $77.68 a barrel. The U.S. Energy Information Administration on Wednesday reported a surprise build in U.S. crude oil and distillate fuel stocks last week, indicating weak demand. Members of OPEC+ are due to hold a policy meeting on Thursday.

Organizations: Brent, U.S, West Texas, Reuters, U.S . Energy, Administration, Organization of Petroleum, OPEC Locations: Nolan , Texas, OPEC, Russia

"Investors covered short positions ahead of the OPEC+ meeting amid worries over supply disruption from Kazakhstan," said Hiroyuki Kikukawa, president of NS Trading, a unit of Nissan Securities. OPEC+ is due to hold an online ministerial meeting on Thursday to discuss 2024 production targets, after delaying the meeting from Nov. 26. The talks will be difficult and a rollover of the previous agreement is possible rather than deeper production cuts, four OPEC+ sources said. Kazakhstan's largest oilfields are cutting combined daily oil output by 56% from Nov. 27, the Kazakh energy ministry said. Meanwhile, U.S. crude oil inventories fell by 817,000 barrels last week, according to market sources citing American Petroleum Institute figures.

Persons: Turar, Hiroyuki Kikukawa, Warren Patterson, Ewa Manthey, Brent, Yuka Obayashi, Muyu Xu, Lincoln, Kim Coghill Organizations: REUTERS, Rights, Brent, . West Texas, of, Petroleum, NS, Nissan Securities, ING, Federal Reserve, American Petroleum Institute, Reuters, Weekly U.S, Thomson Locations: Mangystau, Kazakhstan, Rights TOKYO, SINGAPORE, Russia, OPEC, Kazakh

☆ Oil prices rise after storm disrupts Kazakh, Russian exports
▼ + stars: | 2023-11-29 | by ( ) www.cnbc.com time to read: +2 min

Oil prices rose on Wednesday as a storm in the Black Sea region disrupted oil exports from Kazakhstan and Russia, raising fears of supply tightness, while investors awaited a crucial decision by OPEC+, which may deepen or extend output cuts. A severe storm in the Black Sea region has disrupted up to 2 million barrels per day of oil exports from Kazakhstan and Russia, according to state's officials and port agent data. Kazakhstan's largest oilfields are cutting combined daily oil output by 56% from Nov. 27, the Kazakh energy ministry said. A weaker dollar typically supports oil prices as it makes oil cheaper for those holding other currencies. Meanwhile, U.S. crude oil inventories fell by 817,000 barrels last week, according to market sources citing American Petroleum Institute figures.

Persons: Hiroyuki Kikukawa Organizations: OPEC, Brent, . West Texas, of, Petroleum, NS, Nissan Securities, Federal Reserve, American Petroleum Institute, Reuters, Weekly U.S Locations: Kazakhstan, Russia, OPEC, Kazakh

☆ Why Cramer thinks Foot Locker's surprising results are 'very encouraging'
▼ + stars: | 2023-11-29 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. "I go back and forth with Mary Dillon as CEO," Jim Cramer said Wednesday, noting the footwear retailer's string of disappointing quarters. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Mary Dillon, Jim Cramer's, Jim Organizations: CNBC, Commerce Department, Treasury, Organization of, Petroleum, . West Texas

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