Oil

Oil prices are trying to balance record supply of oil and dwindling storage space versus what could be the biggest drop in energy capital spending cuts in history.

Russia gets a downgrade to junk and UK growth misses expectations as the Obama administration once again moves against the U.S. energy revival while continuing to take credit for the oil revolution that it opposes.

Whether it is copper hitting a 5-and-a-half year low, or oil or even soft products, grains and meats, it is clear that commodities are sending clear economic warning signs.

It is obvious that the ECB was underwhelmed with yesterday’s market reaction to their planned stimulus, so they added a bit extra so the markets would receive the measure warmly.

Christine Lagarde says the drop in oil prices won’t be enough to save the global economy, but the International Energy Agency says it will be enough to slow down the U.S. shale revolution. After the biggest rout in oil since the 1980’s, is there hope that perhaps we have found a short-term bottom?

The move by the Swiss National bank is going to raise the pressure on the ECB to do something dramatic -- as far as quantitative easing to keep up with the Swiss.

Growth jolts, policy angst and civic unrest aside, oil will eventually normalize – not because it must or it always has/does but, due to simple supply vs. demand economics.

The World Bank is telling us pretty much what the oil market and copper already has been telling us, and that is that the outlook for global economic growth is getting worse, not better.

The UAE’s oil minister said ‘the country’s oil output and strategy will not change’... You know, kind of like making the U.S. shale producer an offer that they can’t refuse.

It seems some in the OPEC cartel have taken exception to the fact that the U.S. was on its way to energy independence.

If the economy is so strong why is oil demand falling?

If the crash in oil prices is supposed to be such a boom for the economy, today we are not feeling it. Instead of joy and celebration we are getting fear and risk protection. Even data showing a jump in auto sales, supposedly inspired by low gasoline prices, was not enough to boost auto stocks on Monday.

Crude oil prices in the U.S. could plunge to $60 a barrel if OPEC does not agree to significant output cut when it meets this week, market players say.

Chesapeake Energy posted higher quarterly profit Wednesday, helped by an 11% increase in oil and gas production.

U.S. oil prices rebounded after tumbling to a 28-month low below $80 per barrel on Monday as short-covering helped offset earlier losses triggered by Goldman Sachs slashing its price forecasts.

Oil rose by more than $2 to one-month highs on Friday, fueled by a sharp rally in gasoline and heating oil as supplies tightened and refiners started to shut down plants for maintenance.