While it appears that OPEC indeed is going to get a deal on a production cut already the markets are questioning whether it is going to be enough. The talk is that OPEC as a cartel is going to cut production by 1 million barrels a day at their next meeting.
U.S. President Barack Obama announced what he called an historic climate change agreement with Chinese President Xi Jinping that would cut both countries' greenhouse gas emissions by close to a third during the next two decades.
The petroleum market will be obsessed with thawing relations and thawing turkeys. The ultra-low sulfur diesel led a comeback in energy in the aftermath of skepticism surrounding the surprise deal with Iran.
When it comes to gas prices in the Midwest it seems that lightning strikes again and again and again. Just when it seemed that Midwest refineries were starting to get their act together, lightning strikes and prices go crazy again.
On the 25th anniversary of the 1987 stock-market crash, traders are once again trying to find something to believe in. While oil toils and precious metals falter the heating oil-gasoline spread continues to rock.
Stimulus from China vs. concerns about Europe is creating a tug-o-war across the commodity complex. WTI oil prices also seem to be losing their relationship to the Brent crude as Middle East tensions are heating up.
The West Coast gas market is in chaos, driving prices to record highs and causing shortages of gasoline and the closing of gas stations. Refinery fires and maintenance have conspired to reduce supplies.
Natural gas hit a decade low and shows us once again the cyclical nature of commodities. Back in 2002, the last time natural gas was this low, the market was still trying to come to grips with the post 9-11 slowdown.