Submitted by Nick Cunningham via OilPrice.com,
Petrobras reported a record loss for the fourth quarter, a horrendous performance that raises questions about the company’s ability to handle its mountain of debt.
"Is the Fed confusing the market?"
Between storage concerns and the potentially "meaningless" Doha production freeze talks, crude oil traders appear tohave realized that $40 oil is unsustainable at record glut levels... WTI crashed through $40 at the NYMEX close...
“The Greatest Crash Of Your Life Is Just Ahead…” – Harry Dent Warns
Harry Dent, best-selling author and economist, has warned that the stock bubble in the U.S. today is the biggest in history and that the “greatest crash of your life is just ahead…”
Writing on his website EconomyandMarkets.com, Dent warned that
One month ago, just as Cushing storage was rapidly approaching its operational capacity, we warned that Cushing (and increasingly all parts of PADD 2) is denying storage requests. We also said that overall PADD 2 inventories had risen to a new record high 155 million barrels...
... hinting that it was just a matter of time before excess production would be shifted to other regions, most notably the Gulf Coast, or PADD 3.