Oil had been trading near $40 for about two weeks, underpinned by OPEC production cuts. The Organization of Petroleum Exporting Countries, which accounts for about 40 percent of global crude supply, said earlier this week it has completed about 80 percent of 4.2 million barrels per day of output cuts announced since September.

Oil prices remain around $40 a barrel. Oil prices will remain at $40 a barrel or lower for a long period of time, why? Nearly 600,000 jobs were slashed in the United States last month, the most severe cut since December 1974. Let’s not forget that the last 4 months we have had 500,000 job losses in each month. That

In was another wild day for fuel prices on Monday. Oil prices tumbled nearly 4 percent Monday in a volatile trading day fraught with more bad economic news. Bad news, that is about the only news that we usually get anymore when we talk about the economy.

To set the stage, we have all time record high unemployment. We have crude oil building every week. OPEC people mad that they are not making money. So in the end what could happen? Who knows?

As I watched CNBC today, I saw a friend of mine Joe Petrowski, CEO of Gulf Oil and Cumberland Farms say that he thinks the market could move into the $20 a barrel range with $1.00 gas prices. I like Joe but I don’t know if this market will get much below the high 20 dollar a barrel range. I

As our 44th President of the United States of America is sworn in today, I can’t even imagine what must be going through Barack Obama head. This is only the 44 President in our entire history of the U.S. Think about it for just one moment. Think about the things that have happened in a quick snap shot: several wars

It was just a few weeks ago that we told you that the Gaza war would end before Barack Obama took office. Along those same line we believe Russia would come up with an agreement with the Ukraine. In our view we related these events to the events from 1981 when President Ronald Reagan took over the office from Jimmy

The market contango is also extraordinarily wide, also provoking covering here,” referring to the March NYMEX contract’s $6 premium over February. Contango is a state of the market when further months out are higher than current moves. In short most believe that they price will rise as time goes on but will it?

The market is over flooded with crude oil as traders are buying crude and putting into storage in hopes that it will be worth more at a later date. Oil tankers are being leased at sea. Storage space for crude became very hard to find at a key delivery point when the January contract expired a few weeks ago as

New week, new action, what are fuel prices going to do this week. The Sokolis still believes that there is room for prices to move lower, of course if we were as smart about the fuel market as we are about fuel management the company would be worth tens of millions of dollars. Here is why we believe prices will