Oil

Oil steadied at around $40 per barrel on Thursday as a surprise fall in U.S. inventories the previous day was offset by an increase in exports from Iraq, underlining global oversupply.

Terry Duffy, CME Group executive chairman and president said the future for oil isn’t necessarily bleak, and if prices rally, producers could come back into the market.

Oil prices surged more than 5 percent on Wednesday, heading for their largest gain in three weeks, after the U.S. government reported a surprise draw in domestic crude stockpiles versus market expectations for a new record high.

John Hofmeister said the global glut of crude oil supplies, though putting downward pressure on prices and hurting producers, is actually comforting in one way.

Oil slipped to a one-month low on Tuesday after a surprise fall in gasoline demand in the United States, the world's largest oil consumer, and on doubts whether oil producers can agree an output freeze to dampen a global supply glut.

Oil held around its lowest in a month on Monday as investors ditched some of their bullish bets on another price rise and the chances that top exporters will agree to rein in overproduction appeared to fade.

U.S. stocks opened lower on Friday after data showed employers added more jobs than expected in March, a sign of economic resilience that could encourage the Federal Reserve to raise interest rates this year.

U.S. crude moved lower by more than 1%, with the market growing increasingly skeptical that a looming deal to freeze crude production can help clear a global glut.

U.S. stocks were little changed at the open on Thursday, the last day of a turbulent quarter for financial markets.

U.S. crude rebounded from early losses on Thursday but the recovery was muted as the market's focus switched back to signs of growing oil stocks.

U.S. crude fell 2%, reflecting growing concerns that a two-month rally may be in danger of fizzling, while analysts forecast another rise to record levels for U.S. crude stockpiles.

U.S. crude rose to start the week, adding to gains in recent weeks as optimism holds that a production freeze among major producers may be implemented.

With oil’s recent rally over the last couple weeks, Loews Corporation (NYSE:L) CEO Jim Tisch weighs in on whether it is sustainable.

U.S. crude is down more than 1%, adding to a slump in the previous session, after U.S. stockpiles rose for the sixth week to another record, sapping the strength of a two-month rally in prices.

Oil prices were down about 3 percent on Wednesday after U.S crude stockpiles soared to record highs for a sixth straight week and triple analysts' expectations, rekindling worries of a glut that could reverse the market's two-month long rally.

Oil prices fell on Tuesday, swept lower by investor nervousness after deadly blasts in Brussels prompted a flight towards so-called safe-haven assets such as gold.

U.S. crude traded nearly 2% lower on concerns over a supply glut after the U.S rig count rose for the first time since December.

Oil prices were in steady in volatile trading on Friday after hitting 2016 peaks, but were on track to multi-week gains on expectations of a production freeze by major exporters and stronger U.S. fuel demand.

U.S. crude hit 2016 highs on Thursday as oil markets rallied for a second straight day on optimism major producers will strike an output freeze deal in Qatar next month amid soaring gasoline demand in the United States.

Natural gas is on pace to overtake coal as the most popular fuel for electricity generation, another sign of coal’s struggles.