KQED Nightly Business Report February 24, 2016
Saudi arabia shattered all hopes that could bolster prices when he said point blank theyre just not going to happen. Oil prices had risen recently but they reverse course today settling down about 4. 5 . The downward pool on oil pushed down stocks. The Dow Jones Industrial average fell to 16,431. The nasdaq dropped 67 and the s p 500 was off 24. Bryan sullivan has more on the comments from the man who runs saudi arabias oil business. Reporter the good news, dont anticipate gasoline prices to move higher any time soon. Thats because oil is likely to stay allowlower for longer. A crowd was told ...