First sign of oil price relief: UAE says it wants OPEC to increase production

The oil market has been stretched incredibly thin, with few producers willing — or able — to replace Russian barrels banned by the United States and shunned by others. Enter the United Arab Emirates, which suggested it may be coming to the rescue.

News: What you need to know about the markets     First sign of oil price relief: UAE says it wants OPEC to increase production The oil market has been stretched incredibly thin, with few producers willing — or able — to replace Russian barrels banned by the United States and shunned by others. Enter the United Arab Emirates, which suggested it may be coming to the rescue. Read more »   For big American banks, Powell matters more than Putin American and European businesses are rapidly distancing themselves from Russia in the wake of its invasion of Ukraine. You'd think that would be a problem for America's top banks, which have deep ties to businesses across the globe, including Russia. But you'd be wrong. Read more »   Why US gas prices are at a record and why they'll stay high for a long time Russia's invasion of Ukraine is a major reason that US drivers are paying record prices for gasoline. But it's not the only reason. Read more »   The world may be facing one of the largest energy shocks ever, Goldman Sachs says Russia's invasion of Ukraine and the West's crackdown on Moscow has left the world economy exposed to an epic energy shock. Read more »   America had a record 11.3 million jobs available in January America's worker shortage is far from over: In January, the nation had a record 11.3 million jobs to fill and not enough workers to do so, according to new data from the Bureau of Labor Statistics. Read more »   Dow jumps after four-day losing streak Stocks surged Wednesday morning as investors celebrated a drop in crude oil prices. Read more »

Dow Nasdaq S&P +653.61   +460.00   +107.18 33,286.25   13,255.55   4,277.88 +2.00%   +3.59%   +2.57% YTD -8.40%   YTD -15.27%   YTD -10.25%

Biggest Winners Tapestry Inc +10.64%   Carnival Corp +8.75%   PVH Corp +8.67%   Norwegian Cruise Line Holdings Ltd +8.46% Biggest Losers Phillips 66 -5.88%   Exxon Mobil Corp -5.68%   Schlumberger NV -5.59%   Halliburton Co -5.22%

Hottest ETF NYSE Market Volume

Key Market Stats Latest Today's Change Oil $110.23 -9.17 / -7.68% Gold $1,996.70 +0.80 / +0.04% 10-yr 1.95% +0.08 Euro $1.11 +0.02 / +1.61%

Hi, let us know what you think of this newsletter!   Tell us what you want to read more of... and less of. Email your tips and feedback to MarketsNowFeedback@turner.com

Sign up for Reliable Sources newsletter   Sign up for Before the Bell newsletter

Tips, thoughts or questions are always welcome at MarketsNowFeedback@turner.com   Want to change how you receive these emails? You can unsubscribe from this list   ® © 2022 Cable News Network Inc. A WarnerMedia Company. All Rights Reserved. You are receiving this message because you subscribed to CNN Business's "Markets Now" newsletter. Our Mailing address is: Cable News Network, Inc. 1 CNN Center Atlanta, GA 30303