Even a supply surplus and falling demand are no match for oil’s momentum. As crude sets a new record close, commodity veteran Addison Armstrong gives his short and long-term views.   Read More

Venezuela's state-owned oil company PDSVA says it's cutting off supplies to ExxonMobil. Most traders I talk to think it's all talk from President Hugo Chavez while he tries to save face as the legal battle between his country and the oil giant has gone Exxon's favor so far.    Read More

Venezuela needs US refineries as much as we need the oil.The bulk of Venezuelan oil into Exxon's U.S. operations goes into its joint venture in Louisiana. Venezuela supplied about 78,000 bpd into the Chalmette refinery in Louisiana last year, according to energy analyst Andy Lipow in Houston.    Read More

A key piece of economic data, some big earnings reports and a testy fight between Exxon Mobil and Venezuela may influence markets Wednesday.    Read More

Stocks rode higher Monday ahead of General Motors' Tuesday earnings report, so you can bet it will be a big feature of Tuesday morning's trading.    Read More