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Crude Oil Jan 26 (CLF26.NYM)
| Pre. Settlement | N/A |
| Settlement date | 2025-12-19 |
| Open | 70.82 |
| Bid | 70.67 |
| Last price | 71.02 |
| Day's range | 70.82 - 70.82 |
| Volume | |
| Ask | 71.71 |
- Yahoo Finance Video
OPEC+ extends oil production cuts into 2025
OPEC+, a group of major oil exporting countries, is extending its oil production cuts into 2025. It was a move widely expected by traders. However, some of those production cuts will start to phase out in the fall of 2024. Yahoo Finance's Ines Ferré breaks down the OPEC+ decision and what it could mean for oil prices (CL=F, BZ=F). For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Stephanie Mikulich.
- Yahoo Finance Video
Nvidia and AMD, GameStop rally, OPEC+ cuts: 3 Things
Both Nvidia (NVDA) and Advanced Micro Devices (AMD) announced new AI chips. Shares of the semiconductor companies are seeing a tick up in Monday's pre-market trading. GameStop (GME) stock is rallying yet again after X user (formerly Twitter) "Roaring Kitty" — the username of Keith Gill — posted a screenshot of his portfolio and his investments in the video game retailer. The validity of Roaring Kitty's current GameStop holdings has yet to be verified. OPEC+ opted to extend its oil (CL=F, BZ=F) production cuts into 2025. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.
- Yahoo Finance Video
Oil market is in 'show-me-the-barrels mode': Analyst
Oil prices (BZ=F, CL=F) are trading lower on Monday after OPEC+ announced an extension of production cuts into 2025. Bob McNally, founder & president of Rapidan Energy, joins Catalysts to discuss his outlook on oil prices. According to McNally, OPEC+'s decision "had a lot of moving parts." He notes that while some aspects were "supportive of prices," other elements, such as the tapering of cuts, caught investors "by surprise." However, he believes that OPEC is willing and able to pause or reverse tapering: "I don't think they're gonna let the bottom out of the price of crude," he says, but acknowledges that this explains the market's bearishness. Regarding oil prices, McNally highlights that there are "real downside" macroeconomic risks, including the Federal Reserve's decision on rate cuts, demand for oil, and ongoing geopolitical tensions. Nevertheless, he states that the market is currently in a "show-me-the-barrels" mode. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Angel Smith
