Points, the s p by nearly 20, and the nasdaq by about 57 points. Also being helped, im sure, by the news from china. What do we think about this . I saw the rally in oil prices on friday. Basically a rumor that you were going to see Something Like this. If its contingent on iran and iraq both playing along with it, that raises all kinds of questions. Seems to be the same caveat weve heard over and over again. Iran has theyve walked back some of their more explicit talk about ramping up production. Still, theyre so eager to get back in the markets. And iraq is desperate too. Lets not forget iran boosted output a month ago by 500,000 barrels a day. If saudi arabia and russia and whoever else want to get together, they need to get iran in the room. And lets not forget that a freeze is not the same as an output cut. If demand grows, then theoretically supplydemand will come back into balance. If demand slows because of china, the freeze leaves the gap where it is. Oil is still under 30 a b
Theres is a chance that prices could plummet to 20 a barrel and the probability of that happening is rising. The report was part of the reason why crude futures fell 3 today to settle at 44. 63 a barrel. Not everyone agrees with that scenario. Jackie has more from the new york exchange. The possible low . 20 a barrel. Lower for longer says the chance is increasingly likely as storage continues to fill. There is a lot of uncertainty. It could be u. S. Production. A 40 barrel, where our base case is set, is the level at which you see a drop in drilling. We saw it today for a drop in rig counts. If you dont bring Global Production down long enough, then youre like i to run into Storage Capacity constraints. Due to an increase in supply, the base case calls for 30 a barrel oil in a month. But some are skeptical. I think the oil will not go that much lower here. I think once we get to these levels, the market is susceptible to the up side. You will see an increase in consumption. You will s
A new report tonight say theres is a chance that prices could plummet to 20 a barrel and the probability of that happening is rising. The report was part of the reason why crude futures fell 3 today to settle at 44. 63 a barrel. Not everyone agrees with that scenario. Jackie has more from the new york exchange. The possible low . 20 a barrel. Lower for longer says the chance is increasingly likely as storage continues to fill. There is a lot of uncertainty. It could be u. S. Production. A 40 barrel, where our base case is set, is the level at which you see a drop in drilling. We saw it today for a drop in rig counts. If you dont bring Global Production down long enough, then youre like i to run into Storage Capacity constraints. Due to an increase in supply, the base case calls for 30 a barrel oil in a month. But some are skeptical. I think the oil will not go that much lower here. I think once we get to these levels, the market is susceptible to the up side. You will see an increase i
Good morning and thanks f joini us this midday. Im jessica rae. Yesterday, a Terror Threat forcibly shut down schools in los angeles, california causing chaos for hundreds of thousands of familes and in new york a similar threat but with a much different reaction abcs matt gutman has the latest threat warning of a swarm of jihadists descending on los angles schools came in email to an la school board memeer 5am tuesday . What followed . A swift decision 90 minutes lalar to close every one of the citys schools . Cahrlie beck 20;55;24;36 we have suffered far t many School Shootings in america to ignore these kind of threats the cost an estimated 29 Million Dollars . About 650,000 students shut out. Gfx lausd robocall the superintendent has directed all schools to be closed today, tuesday, december 15th, to ensure the safety of all students. Scrambling. K mg were your employers understanding . New york city officials received same email to keep schools new yorks police blasting las decisi
Due to a weather related incident on the tarmac. Jessica rae after months of anticipation. The day is finally here star wars the force Awakens Opens tonight. Leaving fans all over the country giddy with excitement. These stories and more. On abc9 news this morning. Jessica rae the Federal Reserve is increasing Interest Rates for the first time in nearly a decade. And the nations largest banks have already started raising their prime lending rates. Making things a little more expensive. Abcs Stephanie Ramos has the story. Do you have a credit card . A car loan . Mortgages . Listen up. Fed chair janet yellen announcing the Federal Reserve is upping Interest Rates from a record low of zero to onequarter of a percent. And while it may be a good sign for the economy . Yellen . The federal funds rate was held near zero to support the recovery of the economy from the worst financial crisis and recession since the great depression. It may not be go for your wallet rates have been kept low in o