The squeeze is on. That's real pain you hear in the oil patch. I always buy into the pain, when the fundamentals are with me.
The price of West Texas Intermediate crude oil closed on Friday at its lowest level since November of 2003. February crude fell $1.78, or 5.7%, to settle at $29.42 a barrel on the New York Mercantile Exchange. For the week, prices lost 11.3%.