Equity futures jumped after RIA Novosti reported that Russia seeks a de-escalation of the conflict in Ukraine. ... Futures had retreated earlier as President Barack Obama approved airstrikes in Iraq, and rocket attacks marked the end of a cease-fire between Israel and Hamas.
The overall fundamental picture has not changed this week with oil stocks in the U.S. at the highest level in more than 25 years. Simply put, oil is well supplied with supply still outstripping demand.
So much for Federal Reserve transparency, it is very clear after the release of the Fed minutes that the Federal Reserve either misled the market after the last Fed meeting or there is something more sinister going on.
Oil prices had the shackles removed and spiked higher after the Republicans caved and agree to a bill that will raise taxes on families that earn over $450,000. Of course for oil bulls any deal is better than no deal.