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An offshore oil platform is seen at sunset near Huntington Beach, California, on Feb. 9, 2024. David Mcnew | Getty Images Oil prices defied the announcement of extended supply cuts from the OPEC+ alliance with brisk declines, with analysts and traders faulting certain trading strategies and the demand picture for the downturn.   “There is

Yasir Al-Rumayyan, chairman of Saudi Arabian Oil Co. (Aramco), speaks during a news conference in Dammam, Saudi Arabia, on Sunday, Nov. 3, 2019.  Mohammed Al-Nemer | Bloomberg | Getty Images Crude oil futures rebounded slightly Wednesday but hovered near a four-month low as a decision by OPEC+ to increase production later this year continued to

U.S. crude prices fell for the fifth straight day Tuesday, but we remain committed to our lone oil-and-gas stock in Coterra Energy . West Texas Intermediate has been moving lower since its early April peak, with Tuesday bringing the U.S. oil benchmark to its lowest settle since Feb. 5, at $73.25 a barrel. Some of

Platform Ellen and Elly, offshore oil and gas platforms operated by Beta Operating Company LLC, off the coast of Long Beach, California, US, on Thursday, Nov. 2, 2023.  Tim Rue | Bloomberg | Getty Images U.S. crude oil fell nearly 2% on Tuesday, extending a recent losing streak to erase most of its gains for

Core Scientific’s 104 megawatt Bitcoin mining data center in Marble, North Carolina Carey McKelvey AUSTIN — For five years, bitcoin miner Core Scientific has quietly been diversifying out of mining and into artificial intelligence, a market that will require immense amounts of power to handle the training of AI models and the massive workloads that

The OPEC logo on the building of the Organization of the Petroleum Exporting Countries. Thomas Coex | Afp | Getty Images Crude oil futures were little changed on Monday as investors tried to parse the impact OPEC’s weekend decision on production policy will have on the market. OPEC+ agreed to extend 3.6 million barrels per

In this article TSLA Follow your favorite stocksCREATE FREE ACCOUNT A photo illustration of the OPEC logo seen on a cell phone set against a green arrow in Brussels, Belgium on September 10, 2023. Nurphoto | Nurphoto | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open

OPEC+, a group of 23 oil-producing nations led by Saudi Arabia and Russia, will convene on Sunday to decide on the next phase of production policy. Bloomberg | Bloomberg | Getty Images The influential Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, on Sunday agreed to extend their official crude

In this article XOM Follow your favorite stocksCREATE FREE ACCOUNT An Exxon gas station sign is seen on October 06, 2023 in the Brooklyn borough of New York City. Michael M. Santiago | Getty Images Four years ago, Exxon Mobil’s reign as the longest serving component in the Dow Jones Industrial Average came to an

The OPEC logo on the building of the Organization of the Petroleum Exporting Countries. Thomas Coex | Afp | Getty Images The oil-producing Organization of the Petroleum Exporting Countries and its allies could extend existing output cuts this week, delegates and analysts told CNBC, even as focus shifts from Middle East tensions to summer demand.

Former Binance CEO Changpeng Zhao, center, departs federal court in Seattle on April 30, 2024. Jason Redmond | AFP | Getty Images Binance’s billionaire founder Changpeng Zhao has reported to a low-security federal prison in Lompoc, California. CNBC reached out to Zhao’s defense team at Latham & Watkins to confirm that the former crypto chief is

An offshore oil platform is seen at sunset near Huntington Beach, California, on Feb. 9, 2024. David Mcnew | Getty Images U.S. crude oil was on pace Friday for its worst month of the year, ahead of an OPEC+ meeting this weekend during which the cartel will review its production levels. U.S. oil is down

The logo of Aramco is seen as security personnel walk before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019.  Hamad I Mohammed | Reuters Saudi Arabia’s state-controlled Aramco said it would sell some $11.5 billion worth of additional stock in an offering that

An oil pumpjack is pictured in the Permian Basin in the Loco Hills regions, New Mexico, on April 6, 2023. Liz Hampton | Reuters U.S. crude oil was little changed Thursday but is on pace for its worst month of the year and a second consecutive monthly loss. U.S. crude oil is down 3.2% in

In this article TSLA Follow your favorite stocksCREATE FREE ACCOUNT Traders work on the floor of the New York Stock Exchange during morning trading on May 24, 2024 in New York City.  Michael M. Santiago | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors

We are buying 55 shares of Abbott Laboratories at roughly $100.89 and 200 shares of Coterra Energy at roughly $27.44. Following the trades, Jim Cramer’s Charitable Trust will own 950 shares of ABT, increasing its weighting to 3.00% from 2.84% and 3,100 shares of CTRA, increasing its weighting to 2.65% from 2.48%. We’re putting some

Ryan Salame, former co-chief executive officer of FTX Digital Markets Ltd., arrives at federal court in New York, US, on Tuesday, May 28, 2024.  Yuki Iwamura | Bloomberg | Getty Images Ryan Salame, a former top lieutenant of FTX founder Sam Bankman-Fried, has been sentenced to 90 months, or seven and a half years, in

The sun sets behind a pumpjack during a gusty night in Fort Stockton, Texas, March 24, 2024. Brandon Bell | Getty Images U.S. crude oil gained more than 1% on Tuesday after booking a loss last week as the market focuses on a key OPEC+ meeting this weekend. OPEC+ will hold a virtual meeting on

Republican presidential candidate and former president Donald Trump shakes hands with North Dakota Gov. Doug Burgum and Vivek Ramaswamy, left, at a campaign rally at the The Margate Resort in Laconia, NH on Monday, January 22, 2024. Jabin Botsford | The Washington Post | Getty Images If former President Donald Trump taps North Dakota Gov.

US President Joe Biden delivers remarks on efforts to lower high gas prices in the South Court Auditorium at Eisenhower Executive Office Building June 22, 2022 in Washington, DC. Jim Watson | AFP | Getty Images The Biden administration will release 1 million barrels of gasoline from reserves held in the Northeast to reduce prices