This morning Brent crude hit its lowest level since 2004 while West Texas Intermediate hasn’t had spot prices this cheap since about 2003 (see chart above)! Market experts are in general citing surging levels of crude supply with no appreciable decline in that supply anywhere on the horizon as the major reason for the price drop. A popular […]
Lately, whenever there is an earnings miss or a disappointing number concerning consumer spending, the cold and harsh winter will typically be blamed! As an example Kohl’s same-store sales missed analyst numbers this morning rising 1.4% when expectations were for a rise of 2.6%. Why? Predictably, they were ‘hurt by colder-than-usual weather in February.’ Yesterday Macy’s also […]
If you’ve been listening to the reporting of financial or political pundits, falling oil prices have typically been touted as a ‘major tax cut’ for consumers! They speak of the fact that the drop in the price of a barrel of oil (WTI currently in the low $60/barrel range) puts money into the consumers pocket […]
