Mexico will end 75 years of government control of its vast oil reserves after Congress approved the nation’s most significant economic reform since the North American Free Trade Agreement.
The budget agreement reached by congressional Democrats and Republicans would provide only a modest boost to the U.S. economy. The psychological effect is likely to be a lot greater.
The stock market could use a healthy correction soon, before prices start rising at an unsustainable pace.
Crude options volatility rose as futures slipped below a $100 a barrel amid rising stockpiles. Implied volatility for at-the-money December options was 19.79% at 2:20 p.m. on the New York Mercantile Exchange, from 19.06% on Oct. 18.