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Oil Prices

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Today's Oil Price Breaks Above $50 for First Time Since November

today’s oil price

Today's oil price pushed above $50 for the first time since November.

Both WTI and Brent crude oil prices gained more than 1%.

And it's all thanks to the confluence of three events happening in three different parts of the world...

A Barrel of WTI Crude Oil Still Costs Less Than the Actual Barrel

wti crude oil

The WTI crude oil price has seen a massive rebound since its February lows.

In fact, it has surged a whopping 85% to $48.42 a barrel.

But most investors will be surprised to hear that today's oil price is cheaper than a men's sweatshirt...

This Is How an OPEC Meeting Typically Affects Oil Prices

opec meeting

The OPEC meeting concluded today, and as expected, there was no agreement on an output ceiling.

This caused oil prices to fall roughly 1.5% in early morning trading.

But most investors don't understand that this drop isn't nearly as bad as the average decline for all meetings...

Crude Oil Prices Today Fall Below $48 Ahead of OPEC Meeting

Dow Jones Industrial Average

Crude oil prices today declined by more than 2% to below the $48 mark.

The price drop comes as investors remain anxious ahead of one of the biggest oil meetings of 2016.

Here's more on the first OPEC meeting of 2016 tomorrow - and what it means for the cartel's future...

This WTI Crude Oil Price Floor Will Yield Profits in 2016

wti crude oil price

The WTI crude oil price just hit a seven-month high of $49.40.

Despite the recent rally, investors should actually be keeping an eye on a lower oil price.

That's because this price floor will be the real source of oil profits in 2016...

Get Ready for the Cheapest Memorial Day Gas Prices in Over 10 Years

oil

We're about to see the cheapest gas prices in over a decade this Memorial Day weekend.

In fact, the whole summer could see us saving at the pump...

Why You Don't Need $50 Oil to Make a Profit

crude oil

Earlier this spring, I talked about the importance of a stable oil pricing "floor," saying it was even more important than any gains crude might make in the meantime. 

That's because establishing a floor, a price oil won't dip below, is what actually generates profit opportunities - for everyone from Exxon Mobil and Shell to investors like you.

Now, OPEC's failure yesterday in Vienna to reach an output deal sent oil sliding again, despite around three weeks of solid gains. But later in the day, news that U.S. crude stockpiles dipped below 1.4 million barrels sent prices back up into the green for the day.

So oil is essentially treading water now. Naturally, the airwaves filled with fretting pundits, all mourning crude's inability to stay above $50, an arbitrary "ceiling" predicated more on psychology (and undeclared short positions) than any market reality.

So, let them cry into their studio mics. We're much better off ignoring them - they're looking literally in the wrong direction.

Here's why oil's price floor will make you far more profits than any ceiling ever will...

[CHART] How the Crude Oil Price Affects Spending

crude oil price

The crude oil price has plummeted 55% over the last two years.

That means American consumers have been spending less at the gasoline pump.

This chart shows where Americans are spending that money they've been saving...

Warning: Don't Trust Goldman (Especially on Oil Prices)

crude oil prices

Goldman Sachs recently released a mildly bullish report on oil prices - an interesting reversal of the firm's prior bearish stance on crude.

And there are two key reasons why you should take Goldman's revised position with a grain of salt...

Why the WTI Crude Oil Price Is Up Today

wti crude oil price

The WTI crude oil price today (Monday, May 16) is on track for its highest close in six months.

The U.S. benchmark jumped more than 3% to $47.68 during midday trading.

And it's all thanks to a surprisingly bullish prediction from this Wall Street bank...

The Price of Crude Oil in 2016 Will Climb Because of These 3 Factors

crude oil price

The price of crude oil has rocketed from its 13-year low in February.

WTI crude oil prices are up 59% to $46 a barrel today.

And there are four factors that ensure the rally will keep going in 2016...

The Secret to Predicting Oil Prices – and Cutting Through the "Expert" Hype

oil prices

These four factors are the secret to accurately predicting oil prices - and cutting through the media's smoke and mirrors.

The second one threatens thousands of jobs here at home, so it's important to take a look at what's really happening with crude...

Crude Oil News: These Companies Just Ditched $2.5 Billion to Avoid Bankruptcy

crude oil news

The biggest crude oil news stories are always movements in day-to-day oil prices.

But the 58% crash in prices over the last two years has forced many firms to make difficult decisions.

That brings us to this important story being overlooked this week...

Crude Oil Prices Today Fall After Saudi Arabia Shakeup

saudi arabia

Crude oil prices fell more than 1% in early-morning trading today.

At 9:45 a.m., WTI prices were down near $44.15, while Brent prices were trading at $44.66.

And it's all due to a massive government shakeup in the world's largest oil country this past weekend...

3 Reasons We Just Raised Our Oil Price Forecast for 2016

oil price forecast

Oil prices have skyrocketed more than 70% over the last three months.

What's even better is that our new oil price forecast sees prices going even higher this year.

And there are three bullish factors that will make it happen...