Business

Just as oil was set to test session lows after another massive oil build, sending US crude inventories to all time highs, many were wondering if the same exact algos that struck for the past weeks, would reappear sending oil surging on negative data would hit again. The answer: a resounding yes.

While it is difficult to explain why oil prices are rising, the rally it's coming on very strong volume as someone clearly thinks it's time to buy crude, again, and doing so with gusto.

I keep pounding the table and screaming about inflation… but people still don’t get it.

Hopefully yesterday’s inflation data was a wake up call.

For those who missed, US wholesale inflation posted its largest monthly jump in four years yesterday. Core Producer Price Index rose 0.4%; only 0.2% was expected. And Fed Chair Janet Yellen blatantly hinted at another interest rate hike in March… despite clear evidence the US economy is rolling over.

If this doesn’t SCREAM “inflation” to you, nothing will.

One of the world's largest, public hedge funds, Och Ziff, gave active managers around the globel more reasons for concern this morning, when it reported results today which showed distributable earnings of $7.5 million, or one cent a share, in the quarter compared to a loss of $36.1 million, or 7 cents, a year earlier. For the full year, the company reported a loss of $121.3 million from a profit of $251.9 million in 2015. Revenue tumbled from $342.8mm to $281.3mm.

Via The Daily Bell

 

THE CHAIR OF THE FEDERAL RESERVE JUST FACT-SHAMED DONALD TRUMP ... Janet Yellen reveals the president has no idea what he’s talking about when it comes to Dodd-Frank. Yellen doesn’t have time for this amateur-hour presidency. - Vanity Fair

According to Vanity Fair the “incredible” businessman Donald Trump doesn't understand much about how the dollar or the larger economy.

Submitted by Nick Cunningham via OilPrice.com,

Oil prices have traded reliably in the $50s per barrel since OPEC agreed to cut production last November, but having failed to break through a ceiling in the upper-$50s, crude prices are in danger of falling back again.