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The crude being pumped out of USA shale formations helped create a global glut that’s pushed prices down nearly 60 percent since June 2014.

USA energy firms cut 26 oil rigs in the latest week, the biggest reduction since April and the fifth straight weekly decline, data showed on Friday, a sign low prices were pushing drillers away from the well pad. Baker Hughes reported that the gas rig count fell by one to 197 in...

USA stocks climbed Friday morning after three days of losses.

Data released Friday showed U.S. non-farm payrolls rose by 142,000 in September, considerably lower than the 203,000 jobs the markets had expected.

Ninety-five percent of Venezuela’s exports result from crude oil. Exports year-to-date to the USA have risen, but remain under pressure.

Brent crude oil was virtually flat at $48.20 a barrel, heading for a near 10 percent fall this month.

Baker Hughes also reported a reduction in natural gas rigs, bringing total USA rigs were to a 13-year low.

And a few worse-than-expected news for the economy is out this hour.

November Brent crude on London’s ICE Futures exchange rose $0.44 to $48.13 a barrel.

Crude oil futures fell in early Asian trade on Wednesday after US inventories showed a weekly buildup that far exceeded analyst expectations.

European markets ended solidly in negative territory as concerns over China returned to the forefront, after some disappointing economic data, prompting further weakness in commodity prices. In America, the US crude benchmark CLc1, West Texas Intermediate (WTI) settled down...

The greenback rose on Friday as dollar bulls took heart after Federal Reserve Chair Janet Yellen kept the door open to a hike in interest rates later this year, a week after the central bank delayed aa long-anticipated move.

In a speech late Thursday, Fed Chair Janet Yellen, who spoke a week after the Fed delayed a long-anticipated rate hike, said she and other Fed policymakers do not expect recent global economic and financial market developments to significantly affect the central bank’s policy.

– Reuters pic, September 23, 2015.Brent crude oil rose towards US$50 RM217) a barrel on Wednesday as a drawdown in U.S. crude oil stocks outweighed the negative impact of weak economic manufacturing data from China.

“Most FOMC participants, including myself, now anticipate that achieving these conditions will likely entail an initial increase in the federal funds rate later this year, followed by a gradual pace of tightening thereafter“, Yellen said. The late sell-off on Friday...