Oil Takes Another Big Hit

January 11th, 2016 11:43 AM

Oil is putting a damper on the short lived rally today after a devastating week last week. Right now (11:35 Mountain Time 1/11/2016) oil is down 6.4% and sitting at $30.94 per barrel. There is way to much supply out there.

We found some articles explaining what is going on today. Makes you wonder how low oil prices will go. We found a great article:

Articles You Want To Read!

http://www.wsj.com/articles/oil-prices-tumble-weighed-by-china-worries-1452481849

http://www.marketwatch.com/story/energy-companies-set-for-first-earnings-decline-in-48-years-goldman-2016-01-08

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*Disclaimer* - *Guarantees are backed by the financial strength and claims-paying ability of the issuing company. Bonus annuities may include higher surrender charges, longer surrender periods, lower caps, higher spreads, or other restrictions that are not included in similar annuities that don’t offer a bonus. By responding you may be contacted by an insurance agent. Annuities are designed to meet long-term needs for retirement income. They provide guarantees against the loss of principal and credited interest, and the reassurance of a death benefit for beneficiaries. This website and its contents, downloads, videos and audio files are designed to provide general information on the subjects covered and is provided to you for informational purposes only. Pursuant to IRS Circular 230, it is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that Ron Caskey does not give legal or tax advice. Please consult your tax advisor or attorney. Ron Caskey is a registered and licensed insurance agent resident in the state of Colorado, non resident in multiple other states. This website focuses on insurance products in an attempt to avoid volatility. The term "Safe Money" should not be understood as signifying a guarantee or a guaranteed investment.*
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