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oil price

Saudi Arabia May Have Just Shot Itself in the Foot

oil prices

Another Saudi official is trying to downplay the kingdom's expanding deficit - as their problems get worse...

On Saturday, Foreign Minister Adel al-Jubeir maintained that the current situation was manageable. He was speaking at a conference in Manama, the capital of neighboring Bahrain.

The situation, of course, has been sparked by two Saudi-led decisions within OPEC. The first was to defend global market share by keeping production high (a move made last year while Americans were sitting down to their Thanksgiving turkeys). That started a downward slide in global oil prices.

Today, I'll show you why the wealthiest OPEC nation's situation has gotten worse - and look at the two recent developments that could accelerate the problem...

5 Surprising Ways Oil Prices Affect Our Everyday Lives

oil prices

The effects of oil prices are more far-reaching than most people realize.

That's because petroleum permeates nearly every corner of our economy.

For example, just recently it was revealed that low oil prices were going to hurt elderly Americans in particular. Last week, the federal government announced it will not increase the cost of living adjustment (COLA) for fiscal 2016 due to low gas prices.

Here are four other less-considered ways the price of oil impacts our lives...

Why WTI Crude Oil Prices Are Down Today

WTI crude oil graph

WTI crude oil prices fell for the second straight day ahead of tomorrow's OPEC meeting and today's expiration for November futures contracts.

But there's a much larger producer prepping for an OPEC meeting soon.

Here's everything you need to know about where prices are headed this year...

WTI Crude Oil Prices Today Down as U.S. Supply Hits 80-Year High

wti crude oil prices today

WTI crude oil prices today fell lower following bearish supply data from the U.S. Energy Information Administration.

Yesterday, the agency reported U.S. oil inventories grew by 7.6 million barrels last week.

But there's one event at the end of October that could reduce output and boost prices into 2016...

Brent Crude Oil Prices Today Rise After EIA Report

brent crude oil

Brent crude oil prices today increased for the fourth consecutive session despite the EIA's bearish supply report.

The agency reported oil supplies increased by 3.1 million barrels last week. The news could worry traders who think supply will keep building up.

But there are three ways to play oil prices no matter where they move...

WTI Crude Oil Prices Today Close at Two-Week High

10 5 15 wti crude oil prices

WTI crude oil prices today settled at their highest level in two weeks.

The boost in prices came after Friday's rig count from Baker Hughes and a statement from the World Bank.

Here's everything you need to know about why oil prices surged higher...

Why WTI Crude Oil Prices Are Up Today

wti crude oil prices

WTI crude oil prices moved higher today as investors bet on U.S. production dwindling throughout the rest of the year.

Although the decline in U.S. output should continue, OPEC is producing at a rapid rate to defend its market share.

Here's what you need to know about what's moving oil prices today...

WTI Crude Oil Prices Up Today After Inventory Data Release


WTI crude oil prices moved higher today after a bullish supply report from the EIA.

Despite today's gains, oil has been exceptionally volatile over the last few months.

But here's where Money Morning Global Energy Strategist Dr. Kent Moors sees oil stocks headed by the end of 2015...

Why WTI Crude Oil Prices Are Down Today


WTI crude oil prices fell into the red today following the Fed's announcement yesterday.

Yesterday, Fed Chairwoman Janet Yellen announced that interest rates would remain at their near-zero level for the time being.

Here's why any looming rate hike won't end up crushing oil prices...

What the Fed's "Hold" Means for Crude Oil Prices

fed decision

The nine years of historically low interest rates will continue in the wake of Fed Chairwoman Janet Yellen's decision to not hike rates - to not yet remove the proverbial punchbowl from the easy-money party.

It was a classic "50-50" proposition; it didn't seem likely the Fed would move to roil global markets, but given the perceived strength of the labor market, a hike wasn't out of the question.

Before Yellen decides to pull the trigger, we'll see price volatility spiral across all global markets - especially when it comes to crude.

So now the oil "doom and dread" crowd and their bearish predictions are running rampant.

Here's why they're dead wrong...

Where WTI Crude Oil Prices Today Are Trading


WTI crude oil prices today moved higher today as traders await the outcome of this week's FOMC meeting.

Investors are waiting to see if the central bank will deliver its first interest rate hike in nearly 10 years.

Here's how the outcome of the assembly could affect oil prices the rest of the year...

How OPEC's Attempt to Save Face Affects the Oil Market


In its monthly report released on Monday, OPEC indicated it is now willing to discuss production levels with other non-OPEC countries.

This is the first indication that the low crude oil price environment has been creating serious problems inside the cartel.

Here's what that means for OPEC's production strategy... and the oil market as a whole...

Will OPEC Cut Production?


Yesterday, OPEC released a bulletin saying low prices "remains a cause for concern" and OPEC is "ready to talk to all other producers."

The news has investors wondering: Will OPEC cut production?

Here's what you need to know about the cartel's dicey situation...

Oil Price Crash Could Lead to Emergency OPEC Meeting

oil price crash

There has been a big oil price crash over the last few months.

Thanks to a worldwide supply glut and weakening Chinese economy, crude oil prices have fallen nearly 30% since May.

Now, one country is desperately trying to develop a strategy to save oil prices before its economy collapses...

Brent Crude Oil Price Soars Today on Stock Market Rebound


The Brent crude oil price surged today as stock markets rallied for the second consecutive trading session.

The Dow Jones, S&P 500, and Shanghai Index saw huge gains following yesterday's historic rebound.

Here's what you need to know about today's oil price movements...