United States

Russia has said that US security services must provide a full response to WikiLeaks’ accusations regarding hacking by the Central Intelligence Agency (CIA). Russian Foreign Ministry spokeswoman Maria Zakharova said on Friday that US spy agencies must be held fully accountable following the recent revelations about the CIA’s hacking techniques, adding that if found to be true the acts of espionage by Washington represent “a great” danger to the world.

Authored by Arthur Berman via OilPrice.com,

WTI futures fell $2.86 from $53.14 to $50.28 per barrel, and Brent futures dropped $3.81 from $55.92 to $52.11 per barrel. WTI is trading below $49 and Brent below $52 per barrel at the time of writing.

The apparent cause was a larger-than-expected 8.2 million-barrel (mmb) addition to U.S. crude oil inventories.

Over-Reaction

Authored by Patrick Buchanan via Buchanan.org,

To back up Defense Secretary “Mad Dog” Mattis’ warning last month, that the U.S. “remains steadfast in its commitment” to its allies, President Donald Trump is sending B-1 and B-52 bombers to Korea.

Some 300,000 South Korean and 15,000 U.S. troops have begun their annual Foal Eagle joint war exercises that run through April.

With US crude inventories at record highs and production surging higher, the ongoing oil rig count rise in America (up 8 to 617 - 8th week in a row and highest since Sept 2015) signals more 'problems' ahead for a record level of speculative long positioning in black gold.

• *U.S. OIL RIG COUNT UP 8 TO 617 , BAKER HUGHES SAYS :BHI US
• *U.S. GAS RIG COUNT UP 5 TO 151 , BAKER HUGHES SAYS :BHI US

Ahead of Angela Merkel's first official meeting with the new administration at the White House next week, Reuters reports that President Trump will ask the German Chancellor for her views on how the United States can help resolve the conflict in eastern Ukraine when they meet next week, senior Trump administration officials said on Friday. Trump will reportedly also ask for Merkel's advice on how to deal with Russian President Vladimir Putin, advice which is pretty clear to anyone following the establishment German press over the past few years.