[expat_panama]

Yesterday we got the Crude Inventories report for Jan. and it showed another big increase.   Problem is that trends in prices and inventories can mean anything we want for the next year or two because the industry takes so long to react --we can't just drill a new well overnight any more than we can quickly get a new job closer to home to use less gas.

So like the first half of 2014 inventories went up and down while the price of oil just went up, and then inventories went up down and up in the other half of 2014 while the price plunged.    What I'm getting is that meaningful price trends in oil take decades to set in, and month/year timeframes are just noise static.

[expat_panama]

Happy "Claims" day to everyone!   This morning (any minute now):

Initial Claims
Continuing Claims
Trade Balance
Productivity-Prel
Unit Labor Costs
Natural Gas Inventories

--and this on top of futures trades pointing +0.6% for stock indexes and metals off -0.81.  Lotsa juicy news blurbs:

• Greece plays down ECB move on cash line for its banks Jittery investors dumped Greek shares after the ECB tightened the screws on the country's banking system, piling pressure on the new anti-austerity government.

• This Is the Sexiest Financial Habit A new survey asked people what money management traits they'd find attractive in a mate. Prepare to be surprised by the answer. Money

• Oil crashes after four-day rally; U.S. inventory renews glut worry Oil prices crashed on Wednesday, with U.S. crude losing 9 percent in one of its biggest daily routs ever, as record high oil inventories in the United States cut short a four-day rally. Reuters