U.S. markets open in 3 hours 14 minutes
  • S&P Futures

    4,236.00
    -0.25 (-0.01%)
     
  • Dow Futures

    33,861.00
    +26.00 (+0.08%)
     
  • Nasdaq Futures

    14,259.00
    +0.75 (+0.01%)
     
  • Russell 2000 Futures

    2,288.70
    -3.80 (-0.17%)
     
  • Crude Oil

    73.37
    +0.52 (+0.71%)
     
  • Gold

    1,782.90
    +5.50 (+0.31%)
     
  • Silver

    26.00
    +0.15 (+0.57%)
     
  • EUR/USD

    1.1946
    +0.0003 (+0.02%)
     
  • 10-Yr Bond

    1.4720
    0.0000 (0.00%)
     
  • Vix

    16.51
    -1.38 (-7.71%)
     
  • GBP/USD

    1.3965
    +0.0017 (+0.12%)
     
  • USD/JPY

    111.0400
    +0.4050 (+0.37%)
     
  • BTC-USD

    33,968.78
    +2,319.52 (+7.33%)
     
  • CMC Crypto 200

    812.49
    +18.17 (+2.29%)
     
  • FTSE 100

    7,098.64
    +8.63 (+0.12%)
     
  • Nikkei 225

    28,874.89
    -9.24 (-0.03%)
     

King Abdullah's Death Sparks Questions on Saudi Arabia Oil Policy

Upon news of the death of Saudi Arabia's King Abdullah, oil prices rose overnight and then turned choppy in Friday trading over speculation on how his successor will impact Saudi oil policy. Abdullah will be succeeded by his half brother, Crown Prince Salman bin Abdulaziz, who in a televised address pledged continuity in Saudi oil policy and said current oil minister Ali al-Naimi will stay on in his post. Keeping the influential al-Naimi, the de facto leader of OPEC since 1995, on board has a correlation to keeping Saudi oil policy consistent. He has claimed production would not be cut even if oil falls to $20 a barrel. But at 80 years old, how long he'll be able to remain in his post remains to be seen.