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Crude Oil Dec 23 (CLZ23.NYM)

NY Mercantile - NY Mercantile Delayed price. Currency in USD
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88.70+0.38 (+0.43%)
As of 03:41AM EDT. Market open.
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  • Yahoo Finance

    A growing number of Wall Street analysts think oil could hit $100 a barrel

    Goldman Sachs is the latest Wall Street firm to lift its oil forecast amid tight supply.

  • Yahoo Finance Video

    Why the Fed may not be worried about high oil prices yet

    The Federal Reserve announced it will keep rates steady, with a possibility for another rate hike down the road. With gas prices rising, student loan repayments resuming, workers' strikes, and a potential government shutdown, there's a lot of uncertainties for investors to consider. Another one of them is what the Fed will do at their November meeting. Peter Tchir, Head of Macro Strategy for Academy Securities and Yung-Yu Ma, U.S. Chief Investment Officer of BMO Wealth Management, join Yahoo Finance to discuss their predictions for the Fed's next move and how markets are reacting to all the latest financial headwinds. When asked about the central bank's options going forward, Ma explains that the Fed will have to pay attention to these headwinds saying "its definitely still data dependent whether or not the Fed raises rates again...cutting rates is far out prospect at this point." Tchir says when it comes to higher oil prices, he thinks the Fed will be "reluctant" to try to deal with them through monetary policy, adding that prices may have to be higher until January or February for the Fed to become concerned. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.


    Hedge fund manager revises strategy due to robust oil market

    James Jampel, founder of Massachusetts-based HITE Hedge Asset Management, announced on Thursday that his previous strategy of shorting fossil fuel stocks is no longer viable due to the strong surge in oil prices. The hedge fund manager, known for his successful track record in shorting fossil fuel stocks, now acknowledges the considerable strength of the oil market.