iPath Pure Beta Crude Oil ETN

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Crude futures extended gains, having posted their largest rise in more than a year Monday.

Oil Prices, Stock Futures Gain Ahead of More Economic Data

The oil price extended its gains after yesterday's surprise cut in production by members of OPEC+ and analysts think there is more to come with one seeing the increase in prices as a bigger medium term risk for credit that the banking crisis. Brent crude advanced 0.9% to US$85.69/barrel while West Texas Intermediate prices climbed a further 1% to US$81.18/barrel.

Oil price rise could pose greater credit threat than banking crisis claims analyst

OPEC+ cuts output, analysts raise oil price forecasts; higher prices may impact economy.

Oil Price Forecast / Update: OPEC+ Plans to Cut Output, Reducing Global Demand by 3.7%

Oil prices and energy stocks were still moving higher as traders digest OPEC's planned production cuts.

Oil Prices Push Higher on OPEC Cuts. Energy Stocks Are Gaining.

OPEC is cutting production just as demand looks set to surge, a dynamic that sets the stage for tight supply well into the future.

OPEC's Cut Could Toy With Oil Prices Longer Than Russia

The Organization of the Petroleum Exporting Countries and its allies said they decided Sunday to cut production in an effort to support oil-market stability, but that offers little comfort to consumers worried about inflation and an expected spike in fuel demand during the coming summer driving season.

Why OPEC+ cut oil production: 6 things investors need to know

OPEC announced a cut in output, causing changes in oil prices.

Oil Prices Rise Sharply Following OPEC Announcement

The market's prices in December are lower than today's. That could point to further price gains after OPEC's production cut.

Oil Futures are Upside Down. Why That Could Be a Bullish Sign.

OPEC+ decided to cut production by 1.16 million bpd to support market stability.

Natural Gas, WTI Oil, Brent Oil – Oil Markets Rally As OPEC+ Cuts Production

A potential U.S. recession and demand from China will help determine whether crude pushes even higher.

Oil Prices Jump as Saudi-Led Group Plans Output Cuts

The spike in oil prices after the surprise OPEC+ production cut may make the Federal Reserve's inflation-fighting job “a little more difficult,” but it is too soon to know for sure, said St Louis Fed President James Bullard, on Monday. “This was a surprise – this OPEC decision – but whether it will have a lasting impact, I think, is an open question,” Bullard said, in an interview on Bloomberg Television.

Fed's Bullard: Oil price jump may make inflation-fighting more difficult

The crude oil markets have rallied rather significantly during the trading session on Monday, as OPEC+ has announced a surprise 1 million barrel production cut starting in May.

Crude Oil Price Forecast – Crude Oil Markets Gap Higher After OPEC+ Cut

This week is filled with various employment reports, with the grandaddy of them all, the Employment Situation, due out Friday.

Black Gold

OPEC+ surprised, no, shocked, the market with plans to cut oil (NYSEARCA: USO) production by 1.16 million barrels per day. Aside from the immediate impact of higher prices, this move has far-reaching repercussions that could result in the S&P 500 (NYSEARCA: SPY) reaching new post-pandemic lows.

What OPEC's Oil Cut Means For Investors

Oil futures remained sharply higher early Monday, holding gains scored after OPEC+ announced a production cut of more than 1 million barrels a day.

Oil prices holding big gains after surprise OPEC+ production cut

Stock futures traded mixed Monday, while oil prices jumped on a surprise production cut.

Dow Futures Inch Up as Oil Prices Jump

Oil services stocks jumped in premarket trade Monday after Saudi Arabia's Ministry of Energy led a surprise oil production cut across several OPEC+ nations. Halliburton Co. HAL, +1.87% jumped 7.2% before market open, while Marathon Oil Corp. MRO, +1.05% rose 7.1%.

Oil services and oil producers jump on Saudi oil production cut

At the recent CERAWeek conference in Houston, executives of U.S. oil companies warned that prices would probably move higher with the resurgence of the influence of the OPEC+ cartel over international oil markets.

OPEC+ Muscle Flex Likely Means Higher Gas Prices At The Pump

All you need to know about the Opec+ decision to cut production and the potential knock-on effects

Why are oil prices rising and what does it mean for inflation?

OPEC+ has cut oil production by a million barrels a day. To reach this number, Saudi Arabia, Kuwait, UEA, Iraq and Algeria all reduced their output.

$100 Oil

Oil stocks jumped premarket Monday after Saudi Arabia's Ministry of Energy led a surprise oil production cut across several OPEC+ nations. On Sunday the Ministry announced that the Kingdom will implement a voluntary cut of 500 thousand barrels per day from May till the end of 2023.

Oil stocks jump on Saudi oil production cut

A look at the day ahead in U.S. and global markets from Mike Dolan

Morning Bid: Crude cut complicates Q2

The surge in oil prices comes after OPEC+ announced an unexpected production cut totaling more than 1 million barrels per day.

Global Oil Prices Surge After OPEC Announces Production Cut

BP PLC (LSE:BP.) and Shell PLC (LSE:SHEL, NYSE:SHEL) sat top of the FTSE 100 risers after the surprise cut in oil production announced by members of Opec+.

Oil majors leap after surprise production cut by Opec+

The surprise move from OPEC comes after crude prices fell 20% over the past year.

News for iPath Pure Beta Crude Oil ETN Stock (OIL)