Wall Street Breakfast: New Bear In Town

Source: seekingalpha.com seekingalpha.com

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New bear in town It wasn't too long ago that many were talking about triple-digit oil prices, but things have since been going in the opposite direction. U.S. benchmark West Texas Intermediate has now fallen into a bear market, tumbling more than 20% from its last high of $95 at the end of September. A drop of 5% on Thursday to under $73 a barrel cemented the new milestone, setting up oil for its fourth weekly loss, with a combination of factors attributing to its fall from grace. Too much supply: Swelling inventories and rising U.S. stockpiles are changing market...