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☆ Here's how the Club's energy stocks are responding to oil's move higher on geopolitical risk
▼ + stars: | 2023-10-09 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +5 min

To be sure, even with Monday's advance, oil prices remain well off their late September peaks. In addition to receiving a lift from crude's gain, Coterra is benefiting from the continued strength in natural gas. On Monday, natural gas futures rose another 1%, to around $3.37 per million British thermal units. Last week, natural gas surged 14% to reach its highest price since late January. The stock's massive outperformance Friday means that any financial benefit Pioneer would receive from Monday's higher oil prices was already captured in the session prior.

Persons: Morgan Stanley, Israel, Brent, WTI, John Kilduff, Jim Cramer, Jim, Pioneer's, CNBC's David Faber, Exxon's, Jim Cramer's, Richard Eden Organizations: Hamas, Natural Resources, Coterra Energy, West Texas, Brent, Gaza, CNBC, Energy, State Street Global Advisors, P Oil & Gas Exploration, Production, Exxon Mobil, Journal, Club, Exxon, Denbury Inc, Silhouette, Getty Locations: Palestinian, Israel, U.S, Palestinian Territories, Houston, Midland , Texas

Global benchmark Brent crude futures and U.S. West Texas Intermediate crude futures have declined about $10 a barrel in less than 10 days after edging close to $100 in late September. Brent futures settled $1.74, or 2.03%, lower at $84.07, while U.S. West Texas Intermediate crude futures were $1.91, or 2.3%, lower at $82.31. Government data on Wednesday also showed a sharp decline in U.S. gasoline demand. Finished motor gasoline supplied, a proxy for demand, fell last week to its lowest since the start of this year. On Thursday, the Turkish energy minister said a crude oil pipeline from Iraq through Turkey, which has been suspended for about six months, was ready for operations.

Persons: Brent, Dennis Kissler, Bob Yawger, Long, Andy Lipow, John Kilduff, Arathy Somasekhar, Paul Carsten, Katya Golubkova, Marguerita Choy, David Gregorio, Sharon Singleton, Jane Merriman Organizations: HOUSTON, Brent, . West Texas, U.S, West Texas, BOK Financial, Oil, Organization of, Petroleum, Mizuho, Lipow Oil Associates, New York ., Data, Thomson Locations: Russia, Saudi Arabia, New York, New York . U.S, U.S, Iraq, Turkey, Houston, London, Tokyo, Singapore

☆ Oil prices will likely retreat from their highs into year-end, says Again Capital's John Kilduff
▼ + stars: | 2023-10-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOil prices will likely retreat from their highs into year-end, says Again Capital's John KilduffJohn Kilduff, Again Capital Founding Partner, discusses the outlook for oil following record high prices in September.

Persons: Capital's John Kilduff John Kilduff

An Aramco employee walks near an oil tank at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed Jadallah/File Photo Acquire Licensing RightsSept 29 (Reuters) - Oil prices settled 1% lower on Friday due to macroeconomic concerns and profit taking, but rose about 30% in the quarter as OPEC+ production cuts squeezed global crude supply. U.S. West Texas Intermediate crude (WTI) settled down 92 cents to $90.97, up 1% in the week and 29% in the quarter. While the total rig count fell by 51 in the third quarter, the cuts have slowed compared with a reduction of 81 in the second quarter as oil prices have rebounded due to tightening supplies. The supply cuts announced by Saudi Arabia and Russia are expected to dominate oil prices for the remainder of this year.

Persons: Ahmed Jadallah, Brent, WTI, John Kilduff, Lael Brainard, Baker Hughes, Suvro Sarkar, Robert Harvey, Katya Golubkova, Sonali Paul, Mark Potter, Paul Simao, Jan Harvey, David Gregorio Our Organizations: REUTERS, . West Texas, Federal Reserve Bank of Dallas, Energy Information Administration, Investors, White, Evergrande, HK, Reuters, Aramco, National Australia Bank, DBS Bank, Thomson Locations: Aramco, Saudi, Saudi Arabia, New York, U.S, Brent, OPEC, Russia

☆ Watch CNBC's full interview with BofA Securities' Francisco Blanch and Again Capital's John Kilduf
▼ + stars: | 2023-09-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with BofA Securities' Francisco Blanch and Again Capital's John KildufFrancisco Blanch, global head of commodity & derivatives strategy at BofA Securities, and John Kilduff, Again Capital founding partner, join 'Squawk on the Street' to discuss the rising oil prices and their impact on the market.

Persons: Francisco Blanch, John Kilduf Francisco Blanch, John Kilduff Organizations: BofA Securities, Capital

☆ Oil will hit triple digits if OPEC sustains cuts and demand holds up: BofA Securities' Blanch
▼ + stars: | 2023-09-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOil will hit triple digits if OPEC sustains cuts and demand holds up: BofA Securities' BlanchFrancisco Blanch, global head of commodity & derivatives strategy at BofA Securities, and John Kilduff, Again Capital founding partner, join 'Squawk on the Street' to discuss the rising oil prices and their impact on the market.

Persons: Francisco Blanch, John Kilduff Organizations: Email, BofA Securities, Capital

An aerial view shows oil tanks of Transneft oil pipeline operator at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia June 13, 2022. U.S. West Texas Intermediate crude (WTI) climbed 36 cents, or 0.4%, to $90.02. The Fed on Wednesday maintained interest rates, but stiffened its hawkish stance, projecting a quarter-percentage-point increase to 5.50-5.75% by year-end. "The Fed stance and a strong labor market has driven equities and commodities lower, pressuring oil," said Kilduff. Oil prices remained supported by concern about tight supply globally entering the fourth quarter.

Persons: Tatiana Meel, Brent, refiners, Tamas Varga, Vargas, John Kilduff, Paul Carsten, Natalie Grover, Laura Sanicola, Trixie Yap, Sonali Paul, Jane Merriman, Alexandra Hudson, David Gregorio Our Organizations: . West Texas, . Federal, Fed, U.S ., U.S . Labor Department, Bank of England, Organization of, Petroleum, Thomson Locations: Nakhodka, Russia, Russian, ., New York, Norway's, Cushing, London

☆ U.S. crude stocks fall as exports surge -EIA
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Bing Guan/File Photo Acquire Licensing RightsSept 20 (Reuters) - U.S. crude stocks fell last week, driven by strong crude oil exports, while gasoline and diesel inventories drew down as refiners began annual autumn maintenance, the Energy Information Administration said on Wednesday. Crude stocks at the Cushing, Oklahoma, delivery hub (USOICC=ECI) fell by 2.1 million barrels in the last week, EIA said, its lowest since July 2022. The drop in inventories was driven by a 2,000 barrel per day climb in crude oil exports, the EIA data showed. Net U.S. crude imports (USOICI=ECI) fell by 3.04 million barrels per day, EIA said. Refinery crude runs (USOICR=ECI) fell by 496,000 barrels per day in the last week, EIA said, while refinery utilization rates (USOIRU=ECI) fell by 1.8 percentage points in the week.

Persons: Bing Guan, refiners, John Kilduff, Laura Sanicola, David Gregorio Our Organizations: Angeles Refinery, California Air Resources Board, Energy Information Administration, Cushing, . West Texas, Brent, U.S . Federal, Net, EIA, Thomson Locations: Angeles, California, Carson , California, U.S, Oklahoma, New York

☆ Brent falls below $90/bbl, pausing rally, on weaker demand outlook
▼ + stars: | 2023-09-07 | by ( Erwin Seba | ) www.reuters.com time to read: +3 min

Brent crude futures settled 68 cents, or 0.8%, lower at $89.92 a barrel, after trading between $89.46 and $90.89. U.S. West Texas Intermediate crude (WTI) futures finished down 67 cents, or 0.8%, at $86.67 a barrel, after trading between $86.39 and $87.74. Thursday's fall came after nine straight sessions of gains in WTI and seven straight gains in Brent. But crude imports surged 30.9%. "The wind has been taken out of the bulls' sail overnight by rising Chinese product exports last month, albeit crude oil imports rose," PVM Oil analyst Tamas Varga said.

Persons: Agustin Marcarian, Thursday's, Prices, Dennis Kissler, John Kilduff, Tamas Varga, Leon Li, Erwin Seba, Arathy Somasekhar, Ahmad Ghaddar, Trixie Yap, Marguerita Choy, Frances Kerry, Nick Macfie Organizations: REUTERS, HOUSTON, Brent, . West Texas, U.S, BOK, Again, Markets, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Iran, Venezuela, WTI, Brent, Saudi Arabia, Russia, China, Saudi, U.S, Shanghai, Houston, London, Singapore

☆ LSEG's Jharonne Martis and Again Capital's John Kilduff on rising risks for consumers and inflation
▼ + stars: | 2023-08-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLSEG's Jharonne Martis and Again Capital's John Kilduff on rising risks for consumers and inflationJharonne Martis, Director of Consumer Research at LSEG, and John Kilduff, Founding Partner of Again Capital, discuss what retail earnings and rising gas prices mean for consumer spending and the outlook for inflation.

Persons: John Kilduff Organizations: Consumer Research Locations: LSEG

Both benchmarks have been on a sustained rally since June, with West Texas Intermediate crude (WTI) trading on Thursday at its highest this year and Brent hitting its highest price since January. Brent crude fell $1.15, or 1.3%, to settle at $86.40 a barrel while WTI settled down $1.58, or 1.9%, at $82.82. Oil prices have been boosted in recent days by extensions to output cuts by Saudi Arabia and Russia, alongside supply fears driven by the potential for conflict between Russia and Ukraine in the Black Sea region to threaten Russian oil shipments. The U.S. is also prohibiting some investment in China in sensitive technologies like computer chips and requires government notification in other tech sectors. Thursday's U.S. consumer prices data for July fuelled speculation the Federal Reserve is nearing the end of its aggressive rate hike cycle.

Persons: Johan Sverdrup, Carina Johansen, NTB, Brent, WTI, John Kilduff, John Ritterbusch, Natalie Grover, Muyu Xu, Mark Potter, Elaine Hardcastle, Andy Sullivan Organizations: West Texas, Federal Reserve, Ritterbusch, Associates, Thomson Locations: North, Saudi, Russian, Saudi Arabia, Russia, Ukraine, China, U.S, New York, Gulf of Mexico, Gulf, Mexico, Galena , Illinois, London, Singapore

Brent crude futures fell $1.31, or 1.7%, to $80.05 a barrel by 11:18 a.m. EDT (1518 GMT). U.S. West Texas Intermediate crude futures fell $1.34, or 1.7%, to $75.55 a barrel. A stronger greenback reduces oil demand, making crude more expensive for investors holding other currencies. Oil prices remained on course for a weekly gain of more than 2%, after supply disruptions in Libya and Nigeria heightened concerns that the markets will tighten in coming months. Separately, Shell suspended loadings of Nigeria's Forcados crude oil owing to a potential leak at a terminal.

Persons: Brent, Dollar, John Kilduff, John Evans, Shariq Khan, Natalie Grover, Sudarshan, Katya Golubkova, David Evans, Mark Potter, Louise Heavens, David Gregorio Our Organizations: Brent, . West Texas, Again, U.S, Shell, Thomson Locations: BENGALURU, Libya, Nigeria, Bengaluru, London, Singapore, Tokyo

Brent crude futures settled down 1%, or 76 cents, at $74.65 a barrel while U.S. West Texas Intermediate crude settled down 1.2%, or 85 cents, to $69.79. Saudi Arabia on Monday said it would extend its voluntary cut of one million barrels per day (bpd) for another month to include August, the state news agency said. "Oil is facing serious economic headwinds and the market is trying to make sense of what additional crude cuts mean in that context," said John Kilduff, partner at Again Capital LLC in New York. Russia, seeking to tighten global crude supplies and boost prices in concert with Saudi Arabia, will reduce oil exports by 500,000 bpd in August, Deputy Prime Minister Alexander Novak said. The cuts amount to 1.5% of global supply and bring the total pledged by OPEC+ oil producers to 5.16 million bpd.

Persons: Brent, John Kilduff, Alexander Novak, Tamas Varga, Alex Lawler, Natalie Grover, Florence Tan, Emily Chow, Jason Neely, David Goodman, David Gregorio Our Organizations: West Texas, OPEC, Thomson Locations: Saudi Arabia, Russia, Europe, China, New York, Riyadh, Moscow, London, Singapore

SummarySummary Companies Saudi Arabia extends production cuts through AugustRussia to cuts August exports by 500,000 bpdGloomy factory activity last month in Europe, China limits gainsJuly 3 (Reuters) - Oil prices rose on Monday after top exporters Saudi Arabia and Russia announced supply cuts for August, prompting prices to bounce of early losses spurred by worries about a slowing global economy and possible U.S. interest-rate hikes. Saudi Arabia on Monday said it would extend its voluntary cut of one million barrels per day (bpd) for another month to include August, the state news agency said. Brent crude futures were up 0.6%, or 43 cents, at $75.84 a barrel by 11:52 a.m. EDT (1652 GMT) U.S. West Texas Intermediate crude rose 0.6%, or 39 cents, to $71.03. Russia, seeking to tighten global crude supplies and boost prices in concert with Saudi Arabia, will reduce oil exports by 500,000 bpd in August, Deputy Prime Minister Alexander Novak said. The cuts amount to 1.5% of global supply and bring the total pledged by OPEC+ oil producers to 5.16 million bpd.

Persons: Brent, John Kilduff, Alexander Novak, Tamas Varga, Alex Lawler, Natalie Grover, Florence Tan, Emily Chow, Jason Neely, David Goodman, David Gregorio Our Organizations: Brent, West Texas, OPEC, Thomson Locations: Saudi Arabia, Russia, Europe, China, U.S, New York, Riyadh, Moscow, London, Singapore

☆ Oil settles higher but posts fourth straight quarterly decline
▼ + stars: | 2023-06-30 | by ( ) www.cnbc.com time to read: +2 min

Oil pumpjacks are viewed in the Inglewood Oil Field in Los Angeles, California. Oil prices settled higher on Friday but posted their fourth straight quarterly loss as investors worried that sluggish global economic activity could crimp fuel demand. Signs of strengthening U.S. economic activity and sharp declines in U.S. oil inventories last week offered some support. The market was also supported by upward revisions in demand for crude oil and refined products in the United States. A Reuters survey of 37 economists and analysts showed oil prices will struggle for traction this year as global economic headwinds linger.

Persons: John Kilduff, Baker Hughes Organizations: Inglewood Oil Field, Brent, U.S . West Texas, U.S . Commerce, Federal Reserve, HSBC, Reuters Locations: Inglewood, Los Angeles , California, U.S, New York, United States, Saudi, OPEC, Saudi Arabia

☆ Oil prices rise as US closes in on debt deal
▼ + stars: | 2023-05-26 | by ( ) www.cnbc.com time to read: +2 min

Oil prices ticked up on Friday as U.S. officials appeared close to striking a debt ceiling deal, and as the market weighed conflicting messages on supply from Russia and Saudi Arabia ahead of the next OPEC+ policy meeting. Russia was leaning towards leaving oil production volumes unchanged because Moscow is content with current prices and output, three sources with knowledge of current Russian thinking told Reuters. Bets on falling oil prices have risen. On the supply side, U.S. oil rigs fell five to 570 this week, according to a report from energy services firm Baker Hughes Co. In May, the oil count fell by 21 rigs, which was the biggest monthly drop since June 2020.

Persons: Brent, Alexander Novak, Saudi Arabian Energy Minister Prince Abdulaziz bin Salman, John Kilduff, Baker Hughes, Klaas Knot Organizations: . West Texas Intermediate, U.S, Biden, Saudi Arabian Energy Minister, Organization of Petroleum Exporting, OPEC, Again, AAA, Dutch Central Bank, European Central Bank Locations: Russia, Saudi Arabia, Vienna, Moscow, U.S, Europe

☆ Oil prices fall on stronger dollar, demand fears
▼ + stars: | 2023-05-12 | by ( ) www.cnbc.com time to read: +3 min

Oil prices settled more than 1% lower on Friday, falling for the third consecutive week, as the market balanced supply fears against renewed economic concerns in the United States and China. "Lack of confidence in the economy is translating to a retreat to the safer dollar, and is also causing pessimism about oil demand," said John Kilduff, partner at Again Capital LLC in New York. Meanwhile, China's April consumer price data rose at a slower pace than in March, missing expectations, while deepening factory gate deflation refocused doubts about its recovery from COVID restrictions driving oil demand growth. U.S. oil rigs fell by two to 586 this week, their lowest since June 2022, while gas rigs plunged by 16 to 141, their lowest April last year. The Organization of the Petroleum Exporting Countries (OPEC) kept its global oil demand forecast for 2023 unchanged on Thursday, expecting economic risks to be offset by higher Chinese demand growth.

☆ Oil settles narrowly mixed after smaller ECB hike; demand concerns linger
▼ + stars: | 2023-05-04 | by ( ) www.cnbc.com time to read: +2 min

OPEC Secretary General Haitham Al Ghais said finger-pointing and misrepresenting the actions of OPEC and OPEC+ was "counterproductive." Oil prices settled nearly unchanged on Thursday after the European Central Bank (ECB) decided to slow the pace of interest rate hikes, with prices still down more than 9% for the week on demand concerns in major consuming countries. Oil prices tumbled this week after concerns about the U.S. economy and signs of weak manufacturing growth in the world's largest oil importer China, sliding further after the U.S. Federal Reserve raised interest rates on Wednesday. The ECB increased its three policy rates by 25 basis points, the smallest hike since the central bank starting lifting them last summer, and kept its options open on future moves as it fights stubbornly high euro zone inflation. Along with investor indigestion over central bank messaging, Wall Street stock indexes were under pressure Thursday from another rout in U.S. bank shares, which have reeled from the collapse of a third major regional bank over the weekend.

May 3 (Reuters) - U.S. crude oil inventories fell for a third week in a row, while gasoline stockpiles unexpectedly rose last week as demand weakened, the Energy Information Administration said on Wednesday. Crude in the Strategic Petroleum Reserve declined 2 million to 364.9 million barrels, its lowest since October 1983. Levels dropped for the third week in a row as part of a congressionally mandated sale of 26 million barrels. Gasoline stocks (USOILG=ECI) rose by 1.7 million barrels to 222.9 million barrels, the EIA said, compared with forecasts for a 1.2 million-barrel drop. U.S. crude oil futures fell $2.93, or 4.1%, to $68.73 a barrel by 11:00 a.m.

☆ Kilduff: Major weather events in the U.S. have been helping ease the supply shortage for gas
▼ + stars: | 2023-04-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKilduff: Major weather events in the U.S. have been helping ease the supply shortage for gasJohn Kilduff, Again Capital Founding Partner, discusses the latest with gas prices.

☆ More problematic issues need to hit tape for oil to get to $100 a barrel, says John Kilduff
▼ + stars: | 2023-04-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMore problematic issues need to hit tape for oil to get to $100 a barrel, says John KilduffJohn Kilduff, Again Capital founding partner, joins 'Squawk on the Street' to discuss Kilduff's thoughts on WTI Crude prices, the timing on comments regarding the SPR and more.

☆ Oil dips on profit taking, markets debate supply tightness
▼ + stars: | 2023-03-29 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +3 min

Brent crude closed 37 cents, or 0.5%, lower at $78.28 a barrel, while West Texas Intermediate crude fell 23 cents, or 0.3%, to $72.97. On the supply side, worries of tightness after an unexpected draw in U.S. oil stockpiles and a halt to some Iraqi Kurdistan oil exports were partially offset by a smaller-than-expected output cut in Russia. U.S. crude oil stockpiles fell unexpectedly last week, the Energy Information Administration said, as refineries ramped up operations after maintenance season and U.S. imports fell to a two-year low. Supply concern were, however, eased by reports that Russian oil production fell by around 300,000 bpd in the first three weeks of March, less than the targeted cuts of 500,000 bpd. A stronger greenback hurts oil demand as crude becomes more expensive for buyers who hold foreign currencies.

West Texas Intermediate U.S. crude futures fell 70 cents, or 1%, to $69.26 a barrel. Brent futures rose 2.8% in the week while U.S. crude futures rose 3.8%. The dollar rose 0.6% against other currencies, which also pressured oil, making crude more expensive to holders of other currencies. Goldman Sachs said commodities demand was surging in the world's biggest oil importer, with oil demand topping 16 million bpd. That means Russia aims to produce 9.7 million bpd between March and June, according to Novak, a much smaller output cut than Moscow previously indicated.

☆ Falling US gasoline stockpiles signal a repeat of last summer's high prices
▼ + stars: | 2023-03-22 | by ( Shariq Khan | ) www.reuters.com time to read: +2 min

Companies Exxon Mobil Corp FollowMarch 22 (Reuters) - U.S. motorists face a repeat of last summer's high gasoline prices, analysts warned on Wednesday, with fuel stockpiles heading towards multi-year lows ahead of the peak summer driving season that begins in two months. Retail gasoline prices, now averaging $3.44 a gallon nationwide, hit a record $5.02 a gallon last June as crude oil prices jumped on Russia's invasion of Ukraine and the waning of COVID-19 travel curbs unleashed pent up travel demand. Vehicle travel in the U.S. started the year 5.6% higher than last year, leading to a drop in gasoline stockpiles for five straight weeks. Rising travel coupled with declining inventories could lift retail prices again this year, said Yawger, with last summer's $5 a gallon a possibility again. When fully operating this month, it will be able to process 250,000 additional barrels of crude daily into gasoline and diesel.

March 17 (Reuters) - Oil prices took a dive on Friday, reversing early gains of more than $1 a barrel and falling by more than $3, as banking sector fears set crude on course for its biggest weekly decline in months. Brent was on track for its biggest weekly fall since December at more than 10%, with WTI heading toward a loss of more than 11%, its biggest since last April. Pressure this week followed the collapse of Silicon Valley Bank (SVB) and Signature Bank and trouble at Credit Suisse and First Republic Bank. The drop in prices highlights "the continued fragile state of the market", said Ole Hansen, head of commodity strategy at Saxo Bank. Analysts still expect constrained global supply to support prices in the foreseeable future.

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