In the energy market on Tuesday, oil slid for a second straight day, with crude for April delivery plummeting to close at $42.33/barrel, down $3.38. April reformulated gasoline was down 4.6 cents, to $1.2512/gallon.

In the energy market on Monday, oil reversed field dramatically, with crude for April delivery giving up strong early gains to close at $45.71/barrel, down $1.36. April reformulated gasoline fell by 3.8 cents, to $1.2972/gallon.

In the energy market on Monday, oil rose again, with crude for April delivery closing at a two-month high at $47.07/barrel, up $1.55. April reformulated gasoline tacked on less than a third of a cent, to $1.3351/gallon.

In the energy market on Tuesday, crude for April delivery gained $1.52 to close at $39.96/barrel. March reformulated gasoline rose 4 cents, to $1.0837/gallon.

Oil fell below $41 a barrel on Thursday, pressured by more gloomy data on the state of the economy in top energy consumer the United States.

Oil rally fades ahead of US inventory data … American Petroleum Institute data due at 2130 GMT…

Geo-political tensions are mounting in the global energy game. And that could make investing in oil right now the trade of the year, says Manraaj Singh. Buying shares of oil majors is a good move now. But Manraaj says quality mid-sized oil companies are best placed to return big profits in the next oil bull run.

“Global Demand for Oil to Plummet,” screams a recent Financial Times headline.   Huh?  No it won’t.  Who are they trying to kid?

Huge trend reversal: Dollar busts, commodities boom… why, and will it last? Rate cuts round the world… U.S. and China slash, Japan considers. U.S. three months away from “official” recession. Two new bailouts: Who’s lining up for help, plus Uncle Sam’s October tab. Denning and Nelson on beating inflation with the right long-haul stock.

Crude oil is now worth less than half its July value. But as central banks and consumers rejoice, socialist oil-exporters like Russia and Venezuela are in “dire straits”. Justice Litle says desperate times could prompt desperate measures from the firebrand leaders of these countries. And this “geopolitical time bomb” could send crude skyrocketing once again.