OPEC oil deal and what does it mean for the market.

[Michael J. Fletcher]

What do you think, friends, are we gonna see a rally this week?

 

[doggyfx]

What do you think, friends, are we gonna see a rally this week?

Nothing.. they froze on historical high, spike on oil and stocks will be limited I guess.
Nevertheless had sell on usdrub with Hotforex, caught 1% drop today
Good luck 2 all

 

[DB Trades]

It means I need to close out of some of my way too big XOM position.

 

[java]

So far oil has been self correcting. The higher the price the more shale we produce. If it gets too high people can't afford to drive to work and then we don't need as much oil anymore.

 

[dilbert003]

my guess is that we rally a little more if dollar doesn't take off..OVX picked up though even though we went up 2 bucks..rally may not last long unless they keep talking. GDP revisions tame today could keep dollar cool.

 

[hajimow]

I doubt that oil will rally more and pass $50 range but oil is finding its bottom in $44 range. Oil going up will have inflationary effect on the market and will have negative effect on retail sales which means stagflation.

 

[James Blanco]

Well, oil already saw a huge boost, as it went up by nearly 5 percent. WTI was trading $46.75 a barrel.

Yet, Goldman Sachs kept its outlook the same.

 

[Overnight]

Winter is coming in North America. And it's gonna' be a cold one.

 

[felixbocharov]

Froze means nothing, if they cut the production that would be different.

 

[Overnight]

Froze means nothing, if they cut the production that would be different.

The Saudis said they are cutting production, didn't they? Except Iran and some non-OPEC states.