This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Crude Oil Steady Despite Saudi Pledge

Oil futures were staying at elevated levels early Monday, as Saudi Arabia's weekend promise to produce additional petroleum failed to convince traders that prices would be affected enough by the increase to fall back.

Recently, crude for August delivery, the new near-month contract, was up 15 cents at $135.51 a barrel. Brent crude was adding 25 cents to $135.11. Reformulated gasoline was fractionally higher at $3.44 a gallon, and natural gas was stronger by 10 cents at $13.09 per million British thermal units.

This past weekend, Saudi officials said at an extraordinary summit that they would lift the largest OPEC nation's output by 200,000 barrels a day, if necessary, through the end of the year. Currently, Saudi Arabia produces about 9.5 million barrels each day for the world market.

Still, oil prices were off their highs of the morning, pulling back as the dollar strengthened against its major counterparts.

They Just Don't Get Oil!

Recently, the U.S. Oil (USO) ETF, which tracks crude prices, was down 11 cents to $109.03 a share.

Stocks such as Exxon Mobil (XOM - Get Report), ConocoPhillips (COP - Get Report) and Chevron (CVX - Get Report) weren't trading in the premarket.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
CVX $102.18 0.00%
COP $47.79 0.00%
USO $11.30 0.00%
XOM $88.40 0.00%
AAPL $93.74 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs