Oil

Oil rallied Thursday as Saudi Arabia's energy minister said the country would be prepared to take action to stabilize the global crude-oil market.

Market insight as U.S. averages hit fresh highs.

Oil prices rose about 5 percent on Thursday after comments from the Saudi oil minister about possible action to stabilize prices triggered a round of buying and the International Energy Agency forecast crude markets would tighten in the second half of 2016.

Oil prices rose about 5 percent on Thursday after comments from the Saudi oil minister about possible action to stabilize prices triggered a round of buying and the International Energy Agency forecast crude markets would tighten in the second half of 2016.

The Dow touched a record intraday high on Thursday afternoon as strong results from department store chains and a surge in oil prices buoyed investor sentiment about economic growth.

The Dow touched a record intraday high on Thursday afternoon as strong results from department store chains and a surge in oil prices buoyed investor sentiment about economic growth.

Oil markets will begin to tighten in the second half of 2016 but the process will be slow and painful as global demand growth declines and non-OPEC supplies rebound, the International Energy Agency said on Thursday.

Oil markets will begin to tighten in the second half of 2016 but the process will be slow and painful as global demand growth declines and non-OPEC supplies rebound, the International Energy Agency said on Thursday.

The move will eliminate about $1.9 billion of future commitments and improve its operating income says the company.

Leveraged ETFs could quickly get back to delivering out-sized gains.

Leveraged ETFs could quickly get back to delivering out-sized gains.

Oil prices fell on Wednesday as a global supply overhang weighed on markets.

Oil prices fell on Wednesday as a global supply overhang weighed on markets.

U.S. stocks eked out slight gains Tuesday as the Nasdaq Composite closed at another record and oil slipped from its two-week high.

U.S. stocks eked out slight gains Tuesday as the Nasdaq Composite closed at another record and oil slipped from its two-week high.

Oil prices fell about 1 percent on Tuesday as worries about a stubborn global petroleum glut offset forecasts for a weekly drop in U.S. crude inventories.

The S&P 500 and the Nasdaq came off their record highs on Tuesday as weak oil prices partially offset the gains in healthcare and technology stocks.

The average price of gasoline in the U.S. has dropped six cents over the past two weeks to $2.16 a gallon for regular grade.

The average price of gasoline in the U.S. has dropped six cents over the past two weeks to $2.16 a gallon for regular grade.