Higher Oil Means Higher Stock Prices???

Posted by Kris | Monday, December 29, 2008 | | 0 comments »

Higher Oil Means Higher Stock Prices??? - This was not the tune the analysts are playing during the bull run where any oil price increase created a downward pressure on stock prices.

Wall Street points to moderately higher open as oil prices rise amid tension in Middle East

NEW YORK (AP) -- Wall Street took comfort from a rise in oil prices and headed toward a higher open Monday, though investors remained cautious as Israel continued its attack on Gaza for a third day.

Oil rose above $40 a barrel Monday after the conflict between Israel and Gaza's Hamas rulers raised tensions in the Middle East. Light, sweet crude rose $2.52 to $40.23 a barrel in premarket electronic trading on the New York Mercantile Exchange.