Good morning. It is 46 degrees and rainy here in the Upper Hudson Valley, the forecast predicts a rainy day with temperatures in the 50s this afternoon.
At 9:20 a.m. ET futures are moderately higher and the price of oil per barrel is significantly higher, well above Tuesday's closing price. The market is poised to open moderately higher.
This morning there is big optimism that the Saudis are willing to strike a deal to limit oil production. Is this real or is it just another head fake. Just a few days ago we were reading that oil was set to crash in price again. Today is has ballooned in price from $45 a barrel to near $49 at the moment. That is a significant change, a $4 rise happens rarely, rarely in recent years. So take it for what it's worth.
CNN: Oil prices surge on optimism over OPEC deal by Anna Stewart and John Defterios
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