Oil

Major oil producers have reached a preliminary deal to cut oil production following a one-day delay.

Saudi Arabia convinced oil producers to hike output ahead of tough U.S. sanctions on Iran, but the Trump administration ultimately allowed some of the Islamic Republic’s biggest customers to keep importing its crude.

Oil prices fall for a 10th consecutive session, sinking U.S. crude futures deeper into bear market territory and wiping out the benchmark’s gains for the year.

With Iran sanctions set to take effect amid a Saudi political crisis the market didn’t expect, geopolitics would be expected to benefit oil prices and energy stocks. But oil has been pressured lately, and big energy stocks have trailed the market.

Geoff Cutmore reports from the Russian Energy Week in Moscow on the state of oil markets.

Brent crude breaches $81 a barrel on the back of a tightening oil market and OPEC leaders signaling they won’t be immediately boosting output.

President Donald Trump’s sustained bid to disrupt Iran’s petroleum exports could soon help to push oil prices above $90 a barrel, analysts told CNBC on Thursday.

Oil prices rose on Wednesday on a supply disruption in Canada, falling U.S. crude stocks, uncertainty over Libyan exports and after U.S. officials told importers to stop buying Iranian crude from November.

Crude prices jumped on Tuesday after the U.S. State Department ordered companies to cut all of their oil imports coming from Iran to zero by November. West Texas Intermediate futures for August delivery traded 3 percent higher at $70.19 per barrel, erasing earlier losses and breaking above $70 for the first time since May 25. …

Jackie DeAngelis reports on crude’s big run and what we could expect to see next in the commodities market.

President Donald Trump is expected to announce he will no longer continue suspending sanctions that target Iran’s oil exports.

Helima Croft, RBC’s global head of commodity strategy, discusses why geopolitics are back with a vengeance.

The electric vehicle market is tiny, but it’s created some very big questions about the future of gasoline demand. Morgan Stanley analysts Wednesday issued a forecast for global miles driven rising to 32 trillion by 2030, up from 11 trillion currently, with emerging markets a big driver of the growth. They say that forecast is …

Jackie DeAngelis takes a look at what to expect in oil and gasoline next year.

Most of the world’s major oil companies are trying to reduce their presence in Venezuela but one small American firm is eager to work there.