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Crude Oil May 25 (CLK25.NYM)
| Pre. Settlement | N/A |
| Settlement date | 2025-04-22 |
| Open | 73.12 |
| Bid | 71.35 |
| Last price | 73.44 |
| Day's range | 71.38 - 73.46 |
| Volume | |
| Ask | 71.38 |
- 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 industry consolidations will create stable prices: Analyst
The oil industry is seeing major consolidations at play as Hess (HES) shareholders approved a $53 billion merger with Chevron (CVX), and ConocoPhillips (COP) will acquire Marathon Oil (MRO) in a $17.1 billion all-stock deal. TD Cowen Analyst Jason Gabelman joins Morning Brief to discuss how these M&A moves should be viewed from a shareholder perspective. "We think it creates a more healthy environment for our shareholders," Gabelman explains. He says that the mergers will lead larger companies to have more control of the oil (CL=F, BZ=F) in the US, which will ultimately allow them to execute "moderate, low-to-mid single-digit oil production growth that should result in a healthier commodity backdrop where there will be less responsive to spikes in oil prices and support higher and more stable oil prices." He adds that more stable oil prices will be a relief to consumers as they grapple with tighter budgets amid high inflation. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Melanie Riehl
