4.6700 +0.02 (0.43%)
After hours: 6:29PM EST
|Bid||4.6400 x 1300|
|Ask||4.6500 x 36900|
|Day's Range||4.4800 - 4.7150|
|52 Week Range||3.5600 - 19.4600|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||-71.65%|
|Beta (3Y Monthly)||0.00|
|Expense Ratio (net)||1.50%|
An attack on Saudi Arabian oil fields has removed about 5% of global oil supplies. As a result, oil prices have jumped. It sounds scary for oil and stock investors, but for the time being, the chart tells a different story.
Following the OPEC and non-OPEC ministerial meeting, the two parties reportedly agreed to cut oil production by a cumulative 1.2 million barrels per day – 0.8 million bpd by OPEC members and 0.4 million bpd by allied producers. Iran managed to secure an exemption from production cuts, citing the burden of U.S. sanctions it's already shouldering. Saudi Arabia, which wields the clout among OPEC members by virtue of it being the top oil producer in the cartel, initially opposed the proposal to exempt Iran.
From the YFi Interactive touch screen, Jared Blikre joins Alexis Christoforous and Brian Sozzi to break down the latest moves in WTI Crude Oil futures (CL=F, CLQ19.NYM) and Gold futures (GC=F, GCQ19.CMX).