Is Crude Oil a Step Behind or Ahead of the Oil Index?

Tensions in the Middle East have always had an impact on everyday life around the world through their effect on the price of oil. During the last month we saw this impact very clearly. At the beginning of September, the price of light crude dropped as fears of U.S. military action against Syria faded. In the following days, crude oil declined as Libya’s production recovered to nearly 40% of pre-war capacity. Higher crude oil output in Iraq was an additional bearish factor, which pushed the price lower. In the previous week, investors watched closely all the US-Iran news. On Friday, the price of oil fell as tensions eased between the United States and Iran after the Obama-Rouhani talks.

Larry Summers or Janet Yellen, Who will Obama Pick as Head of Fed?

Garrett Baldwin writes: With Ben Bernanke prepared to step down as Federal Reserve chairman within the next year, the human resource debacle of locating the next Federal Reserve chair is underway.
Despite reports of Timothy Geithner, Alan Blinder, or Roger Ferguson being modest replacements (the latter I personally endorse), it seems that the candidacy has been narrowed to two.

A Close Encounter With Zombiedom

Ben Bernanke spoke out on Tuesday, leaving no doubt where he stands on the QE issue. To print or not to print? He hardly seemed to think about it. Instead, he announced himself four-square in favor. If there is to be any prudence or propriety at America’s central bank, it won’t be on his watch!
This seemed to put some starch into investors’ nerves. After a big sell-off on Monday… and a bounce on Tuesday… they went back into the markets yesterday with a single-minded command: “Buy!”

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