BLOOMBERG.COM
West Texas oil swung between gains and losses before sliding as Saudi Arabia signaled Thursday’s meeting won’t produce a deeper cut than expected, even as OPEC and its allies appeared poised to extend their deal to reduce output. Meanwhile, the dollar steadied in the wake of the Fed minutes, which cast some doubt over the trajectory of interest rate increases but confirmed the likelihood of a June hike. U.S. futures pointed upwards, suggesting stocks will extend their longest stretch of gains since February.
Read more>
West Texas oil swung between gains and losses before sliding as Saudi Arabia signaled Thursday’s meeting won’t produce a deeper cut than expected, even as OPEC and its allies appeared poised to extend their deal to reduce output. Meanwhile, the dollar steadied in the wake of the Fed minutes, which cast some doubt over the trajectory of interest rate increases but confirmed the likelihood of a June hike. U.S. futures pointed upwards, suggesting stocks will extend their longest stretch of gains since February.
Read more>