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Jim Prince, 25-year commodity market veteran, just posted a 3+ minute video about a recent move in the commodity markets. Watch it now, and he'll send you a free companion PDF and an email reminder every time he posts a new Daily Alert video.
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Mar WTI crude oil this morning is down -11 cents (-0.24%)and Mar gasoline is down -0.0047 (-0.35%). Mar crude oil and Mar gasoline on Monday closed lower with Mar crude at a 1-1/2 week low: CLH5 -0.44 (-0.97%), RBH5 -0.0282 (-2.05%). Bearish factors included (1) the action from Saudi Arabia's new ruler, King Salman Bin Abdulaziz Al Saud, to keep Ali al-Naimi in his post as Saudi oil minister, which signals that current Saudi oil policy will remain unchanged, and (2) speculation that a blizzard on the U.S. East Coast will undercut gasoline demand as roads close and people refrain from driving.