This page has been archived and commenting is disabled.

Did Ukraine-Russia Talks "Hope" Spark Crude Oil Selling?

Tyler Durden's picture




 

Crude oil prices dropped after earlier macro data but fell more aggressively around 1130ET. Desks are scrambling for reasons for the heavy volume selling pressure though some have noted that suggestions by Ukraine's newly elected president will meet with Putin were responsible for some 'war premium' being lifted. WTI and Brent both fell at the same time... The selling appears orderly - not machines-gone-wild...

 

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 06/04/2014 - 12:19 | 4823511 Flakmeister
Flakmeister's picture

And WTI is still up for the day....

And Brent is off all of $0.25

Wed, 06/04/2014 - 12:20 | 4823516 PartysOver
PartysOver's picture

But, but, but...  Wind and Solar

Wed, 06/04/2014 - 12:27 | 4823541 Say What Again
Say What Again's picture

Is NASD Broken?

 

Can't access the trade server

Wed, 06/04/2014 - 12:38 | 4823583 Dr. Engali
Dr. Engali's picture

Oh the horror of it all. How will humanity survive?

Wed, 06/04/2014 - 12:20 | 4823512 lordylord
lordylord's picture

deleted.

Wed, 06/04/2014 - 12:39 | 4823584 CrashisOptimistic
CrashisOptimistic's picture

The news was more bullshit out of Libya that they can start flowing again.

Libyan oil may be the best in the world for diesel content.  There is a quote out there that a barrel of Libyan can provide 3X the diesel that a barrel of Saudi Arabian oil provides.

This matters because about 60% of oil consumption increase of recent years has been diesel.

Wed, 06/04/2014 - 17:08 | 4824578 Flakmeister
Flakmeister's picture

I think you are "mis-remembering" that quote on Libyan crude vis a vis the KSA.....

Lookup up Amna here

http://www.etc-cte.ec.gc.ca/databases/OilProperties/Default.aspx

and compare with 

Arabian Heavy/Medium

taking into account what residual acutally entails...

Don't misunderstand me, Libyan LS is some of the finest oil to be found, on par with Bonny Light from Nigeria but it ain't that different from Ghawar's finest....

Edit: Just came across this

http://www.scribd.com/doc/99986011/Amna-Crude-Oil

Integrate Table 2 between 200 and 300 C to get the distallate yield...

or even better here

http://books.google.com/books?id=Vb9VAgAAQBAJ&pg=PA238&lpg=PA238&dq=liby...

 

Wed, 06/04/2014 - 12:24 | 4823539 disabledvet
disabledvet's picture

The USA is swimming in product.

Good luck exporting it.

Houston and Alaska are about it.

I think the "inflation bullets" to keep the debt ponzi alive are few and far between. Yes the price of the commodity barely budged...but when you overlay that with leverage and "complexity" (leverage on leverage)...small price moves can have outsized results.

Wed, 06/04/2014 - 12:40 | 4823590 CrashisOptimistic
CrashisOptimistic's picture

Look, just shut up and go get data.

The US imports 7ish million barrels/day.  That's not what you do when you are swimming in it.

Wed, 06/04/2014 - 12:56 | 4823631 thamnosma
thamnosma's picture

I hate data, ruins all my preconceptions.

Wed, 06/04/2014 - 12:24 | 4823540 maskone909
maskone909's picture

normally in times of war, you would expect to see soverign balance sheets as they appear now.  only problem is, there are no major wars.  just entitlements. 

Wed, 06/04/2014 - 12:27 | 4823551 JustObserving
JustObserving's picture
Did Ukraine-Russia Talks "Hope" Spark Crude Oil Selling?

It could have been Kevin Henry selling on orders from Yellen.

Wed, 06/04/2014 - 12:28 | 4823554 Yen Cross
Yen Cross's picture

     It takes ships longer to change course then these BS "macro sovereign" news flows out of ZOG.

  It's amazing how countries with 10's of millions of people can suddenly become tranquil and profitable/productive overnight...Actions speak louder then words you douchewad media clowns!

Wed, 06/04/2014 - 12:30 | 4823555 PlusTic
PlusTic's picture

...

Wed, 06/04/2014 - 12:35 | 4823571 Tracerfan
Tracerfan's picture

US puppet Porky Pig Poroshenko will include anti-Russian Nazi psychotic Yarosh as a minster in the the Kiev regime.  Ukraine Nazi regime will engage in 'ethnic cleansing" of Russians in South/East Ukraine, as US wants.  There will be no peace.  Look at Syria for what the US government wants for Ukraine.

Wed, 06/04/2014 - 14:41 | 4824028 MrFailSauce
MrFailSauce's picture

Yats and Tuchinov are US stooges.  But Poroshenko looks to be own his own side.  It looks like he's trying to dislodge the fatherland party so that he can craft a middle way.

Wed, 06/04/2014 - 12:36 | 4823576 bbq on whitehou...
bbq on whitehouse lawn's picture

The selling may be those in northern iraq, whose oil selling days are numbered.
Might even lead to civil war.

Wed, 06/04/2014 - 12:50 | 4823614 Hindenburg...Oh Man
Hindenburg...Oh Man's picture

Stocks spasm higher. NASDAQ emini 100 futures are even higher than when the NASDAQ was above 4300 earlier this year. It hadn't been able to penetrate 3740, but today it shot through. Bullish!

Wed, 06/04/2014 - 12:54 | 4823623 orangegeek
orangegeek's picture

why is oil selling?

 

because all the holding tanks in the world are full and there's no where else to put this stuff except back in the ground

 

under the process of PRINT MOAR, it makes a lot of sense to pump, refine, and dump back into the hole in the ground - should help drive MOAR GDP

Wed, 06/04/2014 - 12:57 | 4823634 thamnosma
thamnosma's picture

and no place to park all the unsold cars....

Wed, 06/04/2014 - 14:02 | 4823881 RockRiver
RockRiver's picture

under the process of PRINT MOAR, it makes a lot of sense to pump, refine, and dump back into the hole in the ground - should help drive MOAR GDP

 

Where is this hole? Please tell me more.

Wed, 06/04/2014 - 13:02 | 4823649 walküre
walküre's picture

An audit just showed that there's not enough oil backing all the paper issued. The paper price for oil is collapsing as faith in oil paper is eroding. The real stuff is scarce and word has it, that Russia, Iran and Canada will accept gold for oil. Saudis are preoccupied with their contaminated camel piss and a related MERS outbreak. They will continue to accept paper for now as long as the US will treat MERS patients at Virginia Hospital and close to Arlington.

Wed, 06/04/2014 - 14:39 | 4824019 MrFailSauce
MrFailSauce's picture

The Chocolate King isn't the US's guy.  He said he's going to call for parliamentary elections after he's sworn in.  Presumably becase that will make it possible to dislodge the PM, Yatsenyuk,  who is most certainly in the US's pocket.

Wed, 06/04/2014 - 15:57 | 4824341 OffShorewHore
OffShorewHore's picture

I dunno but whoever it was stopped me out of my one god damn contract(@&#$%(

Do NOT follow this link or you will be banned from the site!