At 8:10 a.m. ET futures are significantly higher and the price of oil is up. The market is poised to open higher.
I've said it many times here and I'll say it again. Oil is integral to the market, as oil goes, generally so goes the market. Oil has risen 30% since it's fall off to around $25 a barrel. Does this mean that oil will continue to rise? In my own investigation, oil companies are cutting investments into expansion, not all but many are doing this. This means that the Saudi inspired shake out is working to the Saudis favor. Bottom line - gas will probably but not definitely get more expensive steadily through the year, this is simply my lightly educated guess.
CNN: Stocks: 5 things to know before the open
Oil prices continue to edge higher, trading around $34 per barrel. Investors around the world freaked out when oil prices plummeted to a 13-year low of $26.05 a barrel on February 11. But prices have since surged by 30%.
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