OPEC agrees to cut production; oil prices surge, page-2

This is significant news. A step change. I am watching CNBC who seem to have little understanding of the mess that the Saudi's got themselves into. Most analysts have been calling for oil going lower. Don't believe them. There are many reasons why oil goes higher.

This an admission of defeat by Saudi Arabia. Expect some changes in their Oil Ministry. Things are not good in Saudi.

SXY is well leveraged into a price rise.