David Fuller's view I bought crude oil NYME (weekly & daily) today, because it fell to a record discount against Brent (weekly & daily). Clearly the USA is awash with crude oil right now, due to a sluggish economy and an abundance of natural gas. The key factor here is shale gas, which only the USA currently extracts in quantity, and which Fullermoney has called 'a game changer' over the last year. Nevertheless, the rest of the oil-importing world is paying significantly more for their crude oil. Perhaps the US should export some of its crude to Europe. Preferring to buy commodities on setbacks, I purchased March crude oil at $87.120 and $86.115, including 6-¢ spread-bet costs.

Here is a related article from Bloomberg: Oil Falls to Eight-Week Low in N.Y. After Jobless Claims Rise.