CL=F - Light Sweet Crude Oil Futures,J

NY Mercantile - NY Mercantile Delayed Price. Currency in USD
50.34
-0.86 (-1.68%)
As of 12:54PM EST. Market open.
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Pre. SettlementN/A
Settlement Date2018-12-19
Open51.25
Bid50.34
Last Price51.20
Day's Range49.86 - 51.87
Volume142,403
Ask50.34
  • Oil’s Fall: Bulls Should Be Careful
    Market Realist3 hours ago

    Oil’s Fall: Bulls Should Be Careful

    So far in December, Russia’s oil output has reached a record high of 11.42 MMbpd (million barrels per day)—based on a Reuters report. The rise in Russia’s oil production might be a negative development for oil prices. Going into 2019, if Russia reduces its oil output by 228 thousand barrels per day as promised from the level in October, according to the production cut deal, then it might impact the oil supply. In October, Russia’s oil output was at 11.41 MMbpd. The International Energy Agency expects the oil market to fall into a supply shortage by the second quarter of 2019.

  • MarketWatch5 hours ago

    Kuwait government accepts oil minister's resignation: report

    The resignation of Kuwait's oil minister, Bakheet Al-Rashidi, was accepted by the country's government following allegations of mismanagement, Bloomberg reported Monday, citing an unidentified person familiar with the situation. Al-Rashidi, who had been oil minister since last December, offered his resignation earlier this month after lawmakers pressured the government for his dismissal, the report said, noting that 15 people have served as oil minister over the last two decades amid political wrangling. Oil futures were higher Monday, with crude attempting to stabilize after a weekly decline. February Brent crude the global benchmark, was up 80 cents, or 1.3%, at $61.08 a barrel, while January West Texas Intermediate crude , the U.S. benchmark, was up 47 cents, or 0.9%, at $51.67 a barrel.

  • Reuters7 hours ago

    BRIEF-Negri Sembilan Oil Palms Posts FFB Production of 8,015 MT In November

    Dec 17 (Reuters) - Negri Sembilan Oil Palms Bhd: * NOVEMBER PRODUCTION OF FFB 8,015 MT, CRUDE PALM OIL 1,607 MT AND PALM KERNEL 420 MT Source: https://bit.ly/2QCnb6y Further company coverage:

  • Reuters7 hours ago

    VEGOILS-Palm falls over 1 pct on overnight weakness in CBOT soyoil

    * Data showing weaker exports also weighs on market - trader * Malaysia Dec. 1-15 palm shipments fall up to 4.7 pct - cargo surveyors (Updates with closing prices) By Emily Chow KUALA LUMPUR, Dec 17 (Reuters) ...

  • Reuters10 hours ago

    Hunting expects oil producers to defer projects on price slump

    Oilfield service companies, including U.S.-based Schlumberger (SLB.N), have been hit this year by a slowdown in demand as regional oil prices have fallen and oil-producing customers face transportation bottlenecks. "Clients are indicating caution on committed spend for the early part of 2019 as the lower oil price and pipeline bottlenecks in the Permian basin indicate a short term slowing in completion activity," Hunting said of its Titan business, which operates mainly in the U.S. Permian shale basin. Last week, Hunting's British rival Wood Plc (WG.L) also said it was cautious about the outlook for further contract awards, but said it was not seeing customers walking away from commitments or cancelling contracts.

  • All Eyes on Saudis as Oil Bulls Cut Bets to Lowest Since 2016
    Bloomberg13 hours ago

    All Eyes on Saudis as Oil Bulls Cut Bets to Lowest Since 2016

    (Bloomberg) -- Hedge funds aren’t buying into OPEC’s oil-production cuts just yet.

  • Reuters17 hours ago

    VEGOILS-Market factors to watch Dec 17

    The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets. FUNDAMENTALS * Malaysian palm oil futures rose more than 1 percent on Friday to a three-week peak, ...

  • Oilprice.com18 hours ago

    2019 Will Be A Wild Year For Oil

    It has been a wild year for oil markets, but with more news bearish and bullish news on the horizon, it looks like 2019 might be even more turbulent

  • Oil Prices: Is the Bear-Market Mauling Finally Over?
    Motley Fool21 hours ago

    Oil Prices: Is the Bear-Market Mauling Finally Over?

    Moves by OPEC, its nonmember supporters, and Canada to curb their production paint a much different supply picture.

  • Oilprice.comyesterday

    Big Oil Is Better Prepared For The Next Price Crash

    The largest oil majors have managed to shore up their balance sheets and improved free cash flow, and are now much less vulnerable to extreme market volatility

  • Reutersyesterday

    Oman signs agreements with Occidental Petroleum on concession areas 51 and 65

    Oman signed on Sunday two agreements with a unit of Occidental Petroleum, covering concessions 51 and 65, the oil ministry of the sultanate said in a tweet. Oil Minister Mohammed bin Hamad al-Rumhi signed the agreement covering concession 51 with Occidental Oman and the agreement on concession 65 with Occidental Oman and Oman Oil Company Exploration and Production, a unit of state-owned Oman Oil Co, the tweet said, giving no further details. Oman's oil output is about 995,000 barrels per day.

  • Simply Wall St.2 days ago

    Is Zhengzhou Coal Mining Machinery Group Company Limited (HKG:564) An Attractive Dividend Stock?

    Dividends can be underrated but they form a large part of investment returns, playing an important role in compounding returns in the long run. Historically, Zhengzhou Coal Mining Machinery Group Read More...

  • CNBC2 days ago

    UPDATE 1-Mexico targets 50 pct jump in oil output, Pemex revival

    Mexico aims to lift oil and gas production by almost 50 percent in the next six years, and in January will agree on infrastructure and drilling contracts to develop 20 fields, the head of state oil firm Petroleos Mexicanos said on Saturday. Octavio Romero, chief executive officer of the company generally known as Pemex, said the new government would increase exploration investment by around 10 percent per year to reverse dwindling output as he presented a new plan for the industry. President Andres Manuel Lopez Obrador, who took office on Dec. 1, wants to revive Pemex, which has become heavily indebted as crude output slipped from a peak of 3.4 million barrels per day (bpd) in 2004 to less than 1.8 million in October.

  • OPEC has shown it can reach deal despite splits: Iran oil minister
    Reuters2 days ago

    OPEC has shown it can reach deal despite splits: Iran oil minister

    Iranian Oil Minister Bijan Zanganeh praised OPEC on Saturday for what he said was the producer group's ability to reach agreement despite intense internal political differences. The Organization of the Petroleum Exporting Countries and its Russia-led allies agreed on Dec. 7 to cut output by more than expected, despite pressure from U.S. President Donald Trump to reduce the price of crude. "OPEC ... has shown the capacity in which members can hold talks and reach important results regarding their common interests despite having the most intense political disputes or even military conflicts (such as during the Iran-Iraq war)," Zanganeh said on Twitter.

  • CNBC2 days ago

    OPEC has shown it can reach deal despite splits -Iran oil minister

    Iranian Oil Minister Bijan Zanganeh praised OPEC on Saturday for what he said was the producer group's ability to reach agreement despite intense internal political differences. The Organization of the Petroleum Exporting Countries and its Russia-led allies agreed on Dec. 7 to cut output by more than expected, despite pressure from U.S. President Donald Trump to reduce the price of crude. "OPEC ... has shown the capacity in which members can hold talks and reach important results regarding their common interests despite having the most intense political disputes or even military conflicts (such as during the Iran-Iraq war)," Zanganeh said on Twitter.

  • Oilprice.com2 days ago

    Turkmenistan’s Pipeline Project Faces More Hurdles

    While Turkmenistan chivvies along its partners in the pipeline project, there are indications it has been less than forthright about its own progress

  • Here's What Investors Can Expect From Oil Prices in 2019
    Motley Fool2 days ago

    Here's What Investors Can Expect From Oil Prices in 2019

    Crude prices could be in for a bumpy ride in the coming year.

  • U.S. Oil Prices Rise as EIA Confirms Another Inventory Draw
    Zacks3 days ago

    U.S. Oil Prices Rise as EIA Confirms Another Inventory Draw

    At 442 million barrels, current crude supplies are less than 1% below the year-ago figure and are 7% above the five-year average.

  • Oilprice.com3 days ago

    Slipping Rig Count Can’t Keep Oil Prices From Falling

    The U.S. and Canadian oil rig count fell for the third week in a row, but the lower number of deployed rigs didn’t keep oil prices from falling on Friday afternoon

  • Brazilian prosecutors charge ex-Trafigura oil executives with graft
    Reuters3 days ago

    Brazilian prosecutors charge ex-Trafigura oil executives with graft

    Brazilian prosecutors on Friday charged two former executives of oil trader Trafigura over allegations of paying at least $1.5 million in bribes to employees of state-run oil company Petroleo Brasileiro. Prosecutors said in a statement that the charges against Mariano Marcondes Ferraz, a former Trafigura top executive, and Marcio Pinto Magalhaes, a country representative, were the first of many to come against the world's largest oil traders.

  • Oilprice.com3 days ago

    Chinese-Venezuelan Joint Venture Doubles Oil Production

    A joint venture between troubled Venezuelan state oil company PDVSA and China’s CNPC in the South American country has doubled its oil production in the past seven months

  • China’s Economic Data Might Drag Oil Prices
    Market Realist3 days ago

    China’s Economic Data Might Drag Oil Prices

    On December 14, China reported the November industrial output growth at 5.4% on a year-over-year basis—the lowest growth since early 2016. The industrial output growth was below the expectation. China’s retail sales growth rate was also at a multiyear low. China was the second-largest oil consumer in the world. Any slowdown in China’s economy would be a negative development for crude oil prices. At 7:43 AM EST, US crude oil prices have lost $0.34 from the last closing level.

  • Reuters3 days ago

    Carlyle Group names manager for U.S. crude export terminal project

    Lone Star Ports LLC will lead development and operation of a Carlyle Group-backed crude export terminal in Corpus Christi, Texas, that can fully load supertankers, according to a statement from the project leaders on Friday. Carlyle Group and the Port of Corpus Christi Authority in October jointly proposed building a $1 billion crude export terminal on an island controlled by the authority. Thursday's announcement adds a project manager to oversee development and construction of the facility, one of three competing to be the first to begin operations in the area.

  • Reuters3 days ago

    Libya's National Oil against paying 'ransom' to reopen El Sharara field

    Libya's state-owned National Oil Corp. (NOC) said it was against paying a ransom to an armed group that has halted crude production at the country's largest oilfield. "Any attempt to pay a ransom to the armed militia which shut down El Sharara (oilfield) would set a dangerous precedent that would threaten the recovery of the Libyan economy," NOC Chairman Mustafa Sanalla said in a statement on the company's website. NOC on Monday declared force majeure on exports from the 315,000-barrels-per-day oilfield after it was seized at the weekend by a local militia group.

  • What Do Marathon Petroleum’s Valuations Imply?
    Market Realist3 days ago

    What Do Marathon Petroleum’s Valuations Imply?

    Currently, Marathon Petroleum (MPC) trades at a forward PE ratio of 8.1x, above its peer average of 7.7x. Marathon Petroleum’s peers Valero Energy (VLO) and Phillips 66 (PSX) also trade above their peer average. Valero and Phillips 66 stocks trade at 8.3x and 9.0x their forward PE, respectively.