CL=F - Crude Oil Jul 23

NY Mercantile - NY Mercantile Delayed Price. Currency in USD
-1.79 (-2.58%)
As of 06:34AM EDT. Market open.
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Pre. SettlementN/A
Settlement date2023-06-20
Last price69.46
Day's range67.58 - 69.69
  • Yahoo Finance Video

    Oil slides on OPEC+ concerns, debt ceiling drama

    The Schork Group Principal Stephen Schork joins Yahoo Finance Live to discuss oil prices amid the debt ceiling debate, China's Covid crisis, and OPEC+ uncertainty.

  • Reuters

    Marketmind: China factory fright, dollar surges

    With the U.S. debt ceiling saga nearly over, the state of the global economy hoves back into view - with contrasting interest rate pictures that saw the dollar climb across the board. A deepening contraction of Chinese factory activity this month casts more doubt over the spluttering recovery of the world's second largest economy, while Europe saw some inflation relief as French and German readouts for May mirrored the surprising drop in Spanish inflation seen earlier this week. China's official manufacturing purchasing managers' index unexpectedly fell to 48.8 from 49.2 in April, staying below the 50-point mark that separates expansion from contraction and below a forecast of 49.4.

  • Reuters

    Carrots and sticks: Venezuela's new oil chief targets graft, courts workers

    The new CEO of Venezuelan state-run PDVSA is targeting endemic corruption at the financially troubled oil company while hoping to win over its 95,000 workers, a move critical to securing much needed cash for the country, home to the world's largest crude reserves. Pedro Tellechea, a 47-year-old mechanical engineer, took command of PDVSA in January and quickly suspended the OPEC country's exports and reviewed sales that had left $21.2 billion in income uncollected. Two months later, President Nicolas Maduro disclosed an anti-corruption investigation that since has led to the arrests of over 60 officials and businessmen and the resignation of the once-powerful oil minister.

  • Yahoo Finance UK

    FTSE 100 and European stocks open lower ahead of key vote on US debt bill

    Investors are anticipating the outcome of US debt vote and digesting the latest economic data from China.

  • Reuters

    Shares drop ahead of US debt ceiling vote; China data rattles nerves

    Global shares fell on Wednesday ahead of a crucial vote in Washington on the U.S. debt ceiling, while commodities and the Chinese yuan came under pressure after data highlighted faltering growth in the world’s second-largest economy. Data showed China's manufacturing activity fell more than expected in May, while services growth -- which has been one of the few bright spots in its patchy recovery -- slackened to its slowest pace in four months. For any investors hoping for a sustained bounce in Chinese growth after the elimination of stringent COVID restrictions late last year, the figures offered more evidence that the economy is losing steam, further dimming the global outlook.

  • Reuters

    Oil falls on weak China data, stronger U.S. dollar

    Oil prices fell on Wednesday on a stronger U.S. dollar and as weak data from top oil importer China raised demand fears. Separately, U.S. crude oil and gasoline stockpiles were seen falling last week, while distillate inventories likely increased, a preliminary Reuters poll showed on Tuesday.


    Oil dips further after sharp losses as weak Chinese data weighs -- Oil prices edged lower in Asian trade on Wednesday, retaining steep declines from the prior session as markets awaited a vote on the U.S. debt ceiling, while disappointing economic data from China brewed more concerns over sluggish demand.

  • Reuters

    Explainer-Why is OPEC+ cutting oil output?

    OPEC and its allies, including Russia, meet in Vienna on June 4 to decide on their output policy. The group, known as OPEC+, agreed on April 2 to increase crude oil production cuts to 3.66 million barrels per day (bpd) or 3.7% of global demand, after several members pledged unilateral cuts. The surprise announcement helped to push up prices by about $9 a barrel to above $87 per barrel over the days followed, but Brent prices since lost those gains.


    Oil tumbles 4% on worries over what Fed will do and OPEC might not

    As anxiety-inducing as the drama over the U.S. debt ceiling was, it has faded from oil traders’ radar with the tentative deal reached between the White House and rival Republicans, leaving the market to agonize over two other things: Fed action over rates and OPEC’s decision on output. Crude prices tumbled 4% on Tuesday amid mounting speculation that the Federal Reserve will raise rates for an eleventh time in 16 months when its policy-makers meet on June 14. The biggest signal for the central bank’s action will be in U.S. jobs data for May, due on Friday, that could show higher-than-expected payrolls growth that forces the Fed against pausing on rates.

  • Financial Times

    Opinion: Time is up for Big Oil’s business model

    The oil supermajors’ proxy season culminates with ExxonMobil’s and Chevron’s annual meetings tomorrow. Today we carry a candid op-ed from Mark van Baal, head of Follow This, a small activist shareholder which tabled some of the recent climate resolutions. Van Baal argues that institutional investors need to get serious about their own commitment to the Paris Agreement climate targets again.


    Crude oil lower; Fed rate hike fears prompt selling

    Oil prices slumped Tuesday as concerns about future economic growth, particularly in the U.S., the largest consumer of crude in the world, overshadowed relief over the signing of a deal to lift the U.S. debt ceiling. U.S. President Joe Biden and Republican House Speaker Kevin McCarthy announced an agreement over the weekend after weeks of fraught negotiations over raising the $31.4 trillion debt ceiling. The deal would raise the debt ceiling for two years, effectively pushing the normally fraught negotiations beyond the 2024 presidential election, and cap some government expenditures.

  • Reuters

    Oil slides 4% on worries about US debt ceiling, OPEC+ talks

    Oil prices fell more than 4% on Tuesday on concerns about whether the U.S. Congress will pass the U.S. debt ceiling pact and as mixed messages from major producers clouded the supply outlook ahead of the OPEC+ meeting this weekend. Some hard-right Republican lawmakers said they might oppose a deal to raise the debt ceiling in the U.S., the world's biggest oil user. Democratic President Joe Biden and Republican House of Representatives Speaker Kevin McCarthy remained optimistic the deal would pass.


    Oil reverses course as economic uncertainty offsets debt deal optimism -- Oil prices reversed early gains to trade lower on Tuesday as fears of more interest rate hikes by the Federal Reserve and slowing economic growth largely offset optimism over raising the U.S. debt ceiling.

  • Reuters

    Trinidad and Tobago nears awards for onshore oil and gas exploration

    (Reuters) -The Trinidad and Tobago government accepted bid recommendations for six of eight onshore oil and gas exploration blocks, people close to the matter said on Sunday, setting the stage for awards to be disclosed as soon as this week. The Caribbean nation has pushed to expand exploration to counter declines in its oil and gas production. A decision to award licenses was taken by the country's cabinet on Thursday on the recommendation of Trinidad and Tobago Energy Minister Stuart Young, the people said.


    Oil prices edge lower as debt limit deal optimism tempered by Fed rate concerns -- Oil prices dropped on Monday, paring back earlier gains, as optimism over the debt ceiling agreement was tempered by renewed expectations that the Federal Reserve will carry on with its long-running campaign of interest rate hikes.

  • Reuters

    Oil ticks up as markets weigh U.S. debt deal, rate hike possibility

    Oil prices edged higher in choppy trading on Monday, as markets weighed a tentative U.S. debt ceiling deal that would avert a default by the world's top oil consumer against further Federal Reserve interest rate hikes that could curb energy demand. Brent crude futures settled up 12 cents, or 0.2%, to $77.07 a barrel, while U.S. West Texas Intermediate crude was up 25 cents, or 0.3%,at $72.92 a barrel. "The euphoria of the debt deal is wearing off as concern mounts for another rate hike by the Fed in June," brokerage Liquidity Energy LLC wrote in a note.


    Oil rises on tentative U.S. debt deal; China, Fed in focus -- Oil prices rose in Asian trade on Monday as U.S. lawmakers said they had reached a provisional agreement to raise the debt ceiling, with focus now turning to key Chinese data this week for cues on the world’s largest oil importer.

  • Motley Fool

    3 Oil Stocks You Can Buy Right Now Before They Surge Even Higher

    Oil prices cratered during the early days of the pandemic, taking oil stocks with them. Crude prices and oil stocks have cooled off over the past several months on macroeconomic concerns. Three that stand out are Devon Energy (NYSE: DVN), Occidental Petroleum (NYSE: OXY), and Marathon Oil (NYSE: MRO).


    Oil in 2nd weekly gain amid inflation bruise, ‘misquote’ on Russia

    On the other, it’s whether a stay or another cut is coming. New York-traded West Texas Intermediate, or WTI, crude settled Friday’s trade up 84 cents, or 1.2%, at $72.67 per barrel. London-traded Brent crude, the global benchmark for oil, settled up 69 cents, or 0.9%, at $76.95.


    Crude oil higher; U.S. demand stays healthy ahead of OPEC meeting

    Oil prices rose Friday, heading towards their second consecutive week of gains on signs of tightening U.S. supply and improving fuel demand in the world’s largest oil consumer. Both benchmarks are on course for gains of close to 2% this week on expectations of tighter U.S. supplies as the travel-heavy summer season approaches, boosted by an unexpected, hefty fall in U.S. crude oil inventories last week. U.S. commercial crude oil inventories fell by 12.5 million barrels a day, the largest weekly decline since November, while ING noted that “the 4-week average for implied gasoline demand remains just above 9MMbbls/d, which is the highest post-COVID level seen for this time of year.”


    Oil creeps lower ahead of more cues on OPEC, debt ceiling talks Oil prices retreated in Asian trade on Friday, extending a sharp drop from the prior session as traders awaited more clarity on the OPEC’s plans for future production cuts, while concerns over the U.S. debt ceiling kept markets on edge.

  • Yahoo Finance Video

    Gas prices: Memorial Day weekend 'a dress rehearsal' for summer travel

    OPIS Global Head of Energy Analysis Tom Kloza joins Yahoo Finance Live to discuss gas prices, the upcoming summer travel season, and the impact of debt ceiling negotiations on the energy market.

  • Reuters

    Nippon Steel still in talks with Teck as it seeks stake in coal asset

    TOKYO (Reuters) -Nippon Steel Corp is still in talks with Teck Resources, despite Glencore's bid for the Canadian miner, as Japan's top steelmaker remains eager to take a stake in Teck's high-grade coking coal asset, a senior executive said. "We are still negotiating with Teck toward making an equity investment in coal assets," executive vice president Takahiro Mori told Reuters in an interview on Wednesday. "The amount of our investment may need to be lifted due to Glencore's bid, but we are determined to take 15% or more stake in the coal asset so that we can make it an affiliate unit," he said.


    Oil down 3% on “no new OPEC cut”; Russians speak for Saudis

    The Russians aren’t helping the price of oil — to the delight possibly of the West and the utter frustration likely of other producers within the OPEC+ alliance, not to mention market bulls. Crude prices tumbled some 3% Thursday after Russian Deputy Prime Minister Alexander Novak, who is also the nation’s de facto oil minister, said he expected no new steps from OPEC+ at its meeting on June 4. Given that Saudi Energy Minister Abdulaziz bin Salman had hinted just 24 hours earlier of the possibility of another round of production cuts at the meeting, Novak’s remarks meant only one thing — that the alliance will keep output unchanged.

  • Zacks

    Marathon Petroleum's (MPC) Fire Incident Raises Safety Concerns

    A fire incident at Marathon Petroleum's (MPC) Galveston Bay refinery leads to a worker's death, raising concerns regarding safety within the facility.