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.
Oil demand is surging and commodities are on a tear as Ben Bernanke helps add into a buying frenzy. Oil and gasoline have led the commodities market to an eight-day winning streak, the best since 2010.
OPEC is showing more concern about the rapid drop in oil prices. While a call from the hawks for a meeting is not unusual, it seems that OPEC special meeting or not will more than likely reign in production unless prices rebound dramatically.