iPath Series B S&P GSCI Crude Oil ETN

OIL

Market cap $326M

U.S. crude futures rose $1.3 to $59.81 per barrel in early trade on Thursday after the United States imposed sanctions on major Russian oil companies Rosneft and Lukoil.

Oil prices on Wednesday scored their biggest one-day gain in a month, as traders weighed how the recent drop in prices could keep a lid on the flow of global crude supplies.

Francesco Martoccia, oil analyst on the commodities research team at Citi, joins CNBC's 'Power Lunch' to discuss outlooks on energy.

Falling gasoline inventories provided additional support to oil markets.

Oil prices have fallen sharply this year as global supply remains strong and demand has been slow to grow.

U.S. crude oil inventories fell by 961,000 barrels last week as refineries raised their capacity use.

Persistently weak crude prices pressured merger and acquisition activity in the U.S. upstream oil and gas sector in the third quarter, analytics firm Enverus said on Wednesday.

The crude oil market continues to see a lot of volatility, as the markets are trying to sort out whether or not there is enough oil demand out there, considering just how much supply is in the market at the moment.

Kevin Green offers his technical analysis on some of the biggest macro movers happening in the market. He speaks on the surge in mortgage refinancing and the mixed picture it offers for the overall housing market.

Gold's second day of selling off is something Kevin Hincks will watch closely on Wednesday's session. Even with weakness in metals, he believes earnings will show the economy is stronger than many investors fear.