Crude Oil Oct 24 (CL=F)
| Pre. Settlement | N/A |
| Settlement Date | 2024-09-20 |
| Open | 66.28 |
| Bid | 67.66 |
| Last Price | 65.75 |
| Day's Range | 65.63 - 67.97 |
| Volume | |
| Ask | 67.67 |
- Yahoo Finance Video
Next week's Fed meeting unchanged by CPI: IG North America CEO
The S&P 500 (^GSPC) turned red Wednesday morning after the release of August's Consumer Price Index (CPI) report, as investors digest the inflation figures. IG North America CEO JJ Kinahan joins Morning Brief hosts Brad Smith and Seana Smith to discuss the August inflation print and how it could affect the Federal Reserve's policy decision next week. "I don't think it really changes their [Fed officials] assessment of things" Kinahan said, adding that "it seems that the market has already basically built in the fact that they're going to take 25 basis points." Kinahan indicated the August CPI report didn't give "any clarity one way or the other" about potential rate cuts, but noted that "one thing that does stand out to me on there, however, is that the core prices for food and energy really didn't move" which is "one area where the average person would really like to see things move." "We may see the energy prices next month come down as we have seen crude oil (CL=F, BZ=F) sell off quite a bit over the last week or so," where Kinahan thinks "we need to see things start to come down before it truly helps the economy." For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Naomi Buchanan.
- Yahoo Finance Video
Gas prices could fall below $3 a gallon: Analyst
With the summer travel season winding down, gas prices are starting to slip. GasBuddy head of petroleum analysis Patrick De Haan expects the national average gas price to fall below $3, driven primarily by seasonal factors, saying "Americans just don't drive as much in fall." He also notes that the switch to cheaper winter gasoline and the decline in oil prices (CL=F) will help send prices lower too. What could change that trajectory? Tropical storm Francine and other potential storms or hurricanes could pose a risk, De Haan says, adding geopolitical risk as another potential upward catalyst. Watch the video above to find out where De Haan says prices in the US are highest and lowest. For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend. This post was written by Stephanie Mikulich.
Yahoo FinanceMorgan Stanley cuts oil target for second time in a month as prices plunge to 2024 lows
Wall Street has turned increasingly sour on oil as prices hover near 52-week lows.
