Archives for October 2016

October 2016 - Page 25 of 25 - Money Morning - Only the News You Can Profit From

Why the Crude Oil Price Today Is Back Over $50

The crude oil price today climbed back over $50 a barrel on renewed hopes that a planned production cut by OPEC will ease the supply/demand issue that has been plaguing oil markets.

Yet oil prices are expected to trade in a narrow range for the next two months.

Here's why...

What the Algiers Deal Means for Crude Oil Prices

What a difference a few days can make for oil.

Earlier last week, oil was drifting down under the weight of doubts about the rumored OPEC oil deal. Then, on Wednesday, several OPEC oil ministers announced that they'd agreed to cap production.

Almost instantly, U.S. oil prices shot up 6%. But come Thursday, the enthusiasm had waned, as traders actually looked into OPEC's oil deal… and didn't like what they saw.

Now, as with any supposed deal between countries that are at each other's throats, the devil will be in the details. That's certainly the case here.

But analysts' reports calling OPEC's announcement a complete failure are wide off the mark.

So today, I'm going to walk you through the details of this plan…

And show you exactly why this deal will be a game-changer for oil...