Israel reportedly told the U.S. that it will not strike Iran's oil facilities.
Crude futures were slightly lower early Wednesday, drifting to the downside a day after a rout sparked by news reports that Israel won't attack Iran's oil facilities.
Oil traders brace for bearish 2024 outlook as supply is set to outpace demand, with prices pressured by weak Chinese consumption and geopolitical risks.
Will brent crude hold $75? As oil prices consolidate, technical analysis suggests a breakout or steep decline could be imminent in the energy markets.
Oil rose in early Asian trade on Wednesday on continued uncertainty over conflict in the Middle East, after falling as much as $5 this week to the lowest levels since early October on demand concerns.
Oil rose in the early Asian session in a likely technical recovery after oil futures dropped by more than 4% overnight.
'Mad Money' host Jim Cramer talks the day's market action.
Crude oil struggles near key technical levels after a breakdown in a symmetrical triangle pattern, leaving uncertainty as prices hover near important support zones.
A significant drop in oil prices may offer consumers reason to celebrate, but it also hints at an economic slowdown in China, the world's second largest economy.
Helima Croft, RBC Capital Markets global head of commodity strategy, and John Kilduff, Again Capital founding partner, join CNBC's 'The Exchange' to discuss outlooks on oil as prices fall 5%, expectations for conflict in the Middle East, and more.
@CharlesSchwab 's Jeffrey Kleintop says the "opposite to a silver lining" on crude oil prices falling is the soft demand, suggesting a lackluster global economy. He adds China's stimulus is underdelivering, and the country doesn't "have its act together" which could be part of the backdrop behind Crude Oil's move lower.
The French oil company's warnings comes on the back of a slump in the global market for products including jet fuel, diesel and gasoline that saw BP and Shell post similar warnings last week.