Crude

On The Coming Collapse Of China's Ponzi Scheme Economy

"You don’t see it right away. Any Ponzi scheme looks just fine as long as more people can be found to put their money in. But the end is inevitable and the longer it is delayed the more resounding the collapse..."

Live Coverage: One Dead, Over 264,000 Without Power As Harvey Drenches Texas, Brings "Widespread Devastation"

Harvey made landfall just before midnight on Friday between Port Aransas and Port O'Connor as a monstrous Category 4 storm - the first of that level to strike the U.S. since Charley in 2004, and the strongest storm in more than 50 years to hit Texas.  By daybreak it had been downgraded to a Category 1 storm from a Category 4, according to the National Weather Service.

RBOB Prices Tumble, Erase Harvey-Induced Gains

Following WTI crude's drop yesterday - apparently on reduced refinery demand due to Hurricane Harvey - RBOB gasoline is now tumbling, erasing yesterday's Harvey-related gains, as traders realize the short-term supply disruptions are offset by significant inventories.

Global Stocks Rise Ahead Of Much Anticipated Speeches By Yellen, Draghi

Global markets are stuck in a holding pattern with S&P futures up modestly after fluctuating overnight, as European and Asian shares rise with oil while the dollar has dipped lower ahead of the biggest central bank event of the year: the Fed's Jackson Hole symposium where Janet Yellen and Mario Draghi will speak at 10am and 3pm ET, respectively.

$20 Oil? Forget OPEC, China Controls Oil Prices

U.S. shale has taken a lot of headline space recently as the biggest headwind for oil prices and the highest stumbling block for OPEC’s efforts to prop them up by cutting production. Yet, there may be another factor that could bring down oil prices as soon as next year... China.