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Oil Prices

Why Oil Prices Are Up Today

why oil prices are up today

The reason why oil prices are up today comes from the largest union strike in the last 35 years.

The surge occurred after 3,800 United Steelworkers union members walked off nine refineries on Sunday. USW said it "had no choice" after failing to agree on new contracts.

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

Dow Jones Drops 251 Points Friday as Oil Prices Surge

Alibaba stock price

The Dow Jones fell 251 points today. The cause? An afternoon oil-price surge caught the market off guard.

West Texas Intermediate crude jumped 8% in New York after Islamic State militants attacked Kurdish forces near the oil-rich city of Kirkuk and news emerged that the U.S. rig count, an indicator of forward production, slipped by 7% this week.

Here are the other top stories from the stock market today - plus today's profit tip for investors...

This Oil Chart Shows the Real Global Oil Supply Story

Oil chart

Pundits continue to emphasize global supply as a major problem for oil prices, but a look at this oil chart shows those concerns over supply are overstated.

There's no denying global oil supply is on the rise. In 2014, the U.S. Energy Information Administration (EIA) reported oil inventories increased 0.8 million barrels a day (bpd). In 2015, that could grow to 0.9 million bpd if production remains the same.

Talking heads say that's a sign oil prices will continue to slip. But they're missing the point.

Here's the proof that oil supply talk has been overstated...

Stock Market Futures Forecast 147-Point Decline, Shake Shack Makes NYSE Debut

Stock market futures

Good morning! Stock market futures for Friday, Jan. 30, forecasted a 147-point decline from yesterday's close. The Dow Jones gained 225 points on Thursday on strong earnings reports from a number of Blue Chip companies and an upswing in oil prices.

Today, markets will focus the fourth-quarter GDP estimate - the broadest measure of aggregate economic activity that covers every sector of the economy. Analysts anticipate growth of roughly 3.1%. That's a decrease from 5% in the third quarter of 2014.

Here's what else you should know about the stock market today - including your "Money Morning Tip of the Day" - to make it a profitable Friday...

Crude Oil Prices and the New Saudi King

crude oil prices

Crude oil prices continue to drop in the wake of Saudi Arabia's shift in leadership. U.S. policymakers will have a tougher time with new King Salman than they've had in some time.

The new leader and his Oil Minister are the architects behind the current Saudi policy, of which there are three main targets.

Oil Price Today Hits $45.21 After API Report

oil price today

The oil price today (Wednesday) continued its seven-month fall after Tuesday's supply report.

As trading opened Wednesday, WTI oil fell right above $45 while Brent oil dropped to about $49.

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

The Last Time U.S. Gas Prices Were This Low…

gas prices

Gas prices across the nation are on track to sink below $2 a gallon by the end of January for the first time since March 25, 2009.

Twenty-five states and more than 50% of U.S. gas stations averaged sub-$2 a gallon gas prices on Jan. 20 according to AAA. The average U.S. gas price could fall to $1.95 - or even lower - "over the next few weeks."

And so for the first time in almost six years, many American motorists will joyfully watch local gas station prices tick under $2. They'll also save an estimated $750 on average at the pump in 2015 compared to last year, according to GasBuddy.

In fact, the last time gas prices were this low...

Saudi Dynasty After King Abdullah: A Visual Guide

Saudi dynasty prince mohammed

Saudi King Abdullah bin Abdulaziz passed away late Thursday at age 90 after a short illness. His death triggered the biggest challenge to the Saudi dynasty in 50 years...

You see, the founder of the Saudi state, King Abdulaziz ibn Saud, decreed only that his first son would inherit the throne. Over the six decades that have followed King Abdulaziz ibn Saud's rule, succession has passed from brother to brother, almost always in order of their age.

But the last of the current line of 35 brothers will soon die out completely.

That means for the first time in Saudi history, the throne will be passed to the third generation of the family...

Oil Price Today and the Impact of Saudi King's Death

oil price today

The oil price today (Friday) rose slightly after the death of King Abdullah of Saudi Arabia.

Early Friday morning, WTI oil jumped above $46 a barrel while Brent increased to more than $49 a barrel.

Here's what you need to know about Saudi Arabia and the state of oil prices...

SBUX, DWA Big Movers in the Stock Market Today

Stock market today

Stock market today, January 23, 2015: Stock market futures for Friday, Jan. 23, forecasted a 46-point decline from yesterday's close.

The S&P 500 and Dow Jones Industrial Average (DJIA) soared Thursday on news the European Central Bank (ECB) has launched a massive QE bond-purchasing program. The U.S. dollar hit an 11-year high against the euro on the news.

Today, investors will continue to celebrate the stimulus plans of the ECB. They'll watch for earnings reports from a number of high-profile American companies.

Here's what else you should know about the stock market today - including your "Money Morning Tip of the Day" - to make it a profitable Friday...

Deflation in 2015? These Four Charts Say Yes

deflation in 2015

Deflation in 2015 seems to be upon us. And while falling prices might seem like a good thing, deflation can wreak havoc on the economy.

In a deflationary period, prices will drop, corporate profits will dry up, wages will shrink, and all of this will reinforce the conditions of recessions.

These four charts show that the U.S. has a real deflation problem now...

Stock Market Futures Today Are Taking Cues from ECB

Stock market futures today

Stock market futures today (Wednesday) forecasted a 74-point decline from yesterday's close on weak fourth-quarter revenues from tech giant International Business Machines (NYSE: IBM).

Thursday, the ECB is expected to announce its own massive bond-purchasing program to stimulate the currency bloc's dragging markets. But any move that doesn't deliver quantitative easing will no doubt shock markets.

Here's what else you should know about the stock market today - including your "Money Morning Tip of the Day" - to make it a profitable Wednesday...

Why the Price of Oil Surged on Wednesday

price of oil

The price of oil rose dramatically Tuesday, posting its best one-day performance since 2012. All of this occurred in a market with oversupply concerns still unresolved and a continuing host of short artists poised to pummel futures prices at any opportunity.

So, if the environment remains essentially the same, why the rise in prices?

Here's why - in addition to where oil prices are headed next...

Stock Market Futures Dip on Swiss Fallout, FXCM Down 91%

Stock Market Today

Good morning! Stock market futures for Friday, Jan. 16, forecasted an 86-point decline from yesterday's close.

The Dow Jones Industrial Average (DJIA) and the S&P 500 both declined for the fifth consecutive trading session Thursday, while one of the most shocking currency decisions in recent history hammered global equity markets: the Swiss National Bank abandoned its current economic policy that prevents the euro/Swiss franc exchange rate from falling below 1.20.

Today, fallout continues as news of the Swiss currency policy reversal reverberates across the markets. The Swiss franc surged as much as 39% against the euro and U.S. dollar on Thursday, and pushed gold prices to a four-month high. The decision could have a profound impact on investment banks and hedge funds that held puts on the nation's currency.

Here's what else you should know about the stock market today - including your "Money Morning Tip of the Day" - to make it a profitable Friday...

RadioShack (NYSE: RSH) Dives 30%, Headlines Stock Market Today

Stock Market Today

Good morning! The stock market today (Thursday, Jan. 15) is headlined by RadioShack (NYSE: RSH). RSH stock fell 30% premarket.
Today, investors will react to a slew of earnings reports from three large financial institutions and Nasdaq component Intel Corp. (Nasdaq: INTC). On the data side, jobless claims will remain in focus, in addition to an important update to the Philadelphia Fed Survey. Consensus estimates call for 295,000 new jobless claims for the week ending January 10.

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