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On that not-so-long-ago June day, oil was trading at $59 a barrel. Oil futures are contracts whereby parties commit to buy or sell oil at a pre-agreed price at a given date in the future. Iran is the second-largest oil producer within the OPEC cartel and any interruptions in its exports could push prices higher [...]

Stocks rose at the open Thursday, after the last sessions big pullback, with oil futures trading above $123 a barrel but with investors finding relief in decent retail sales from the likes of Wal-Mart Stores. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move.
Sources:

www.dollardrops.com
jutiagroup.com
www.globalvoicesonline.org
www.canadiancapitalist.com