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WTI Crude Tumbles Back Below $66, Heads For Lowest Weekly Close Since July 2009
It appears the growth-is-back-just-look-at-the-jobs-number meme is not flowing through to the oil complex. WTI just broke below $66.00 (having earlier broken below and bounced back above) and is now down almost 1% on the week having retraced most of Monday's kneejerk dead-cat-bounce. This will be the lowest weekly close since July 2009 and down 9 of the last 10 weeks.
From surging dead-cat-bounce to slow death...
To the lowest weekly close since July 2009...
But don't worry, The White House says
- *FURMAN SAYS MOST U.S. OIL PROFITABLE AT CURRENT PRICES: CNBC
Which is just a lie...
Charts: Bloomberg
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I will never complain about cheaper diesel. If only it wasn't the massive deflation just prior to...
Nice touch with the dead cat in the first chart.
And if you think that dead cat smells now...give her a couple weeks in the Arabian sun.
The Chinese economy is booming now due to lower oil prices.
Funny that, the Japanese economy isn't (boomin') !
Time 2 buy 55 gal steel drums & Stabil bitchez!
suggest propane (long storage life)
no arguments there GHOST... U need both... I got 2,000 pounds C3H8 in storage already, so I'll admit & relinquish to the bias.
Self supporting now that they're all tapped in to the I want that money matrix. Who can blame them for wanting a life as a under paid slave, now the mericanz will see what it's like instead of over paid slaves. Or park a truck bomb under the UN building among others......allegedly
I don't have a truck with a royal banner on it.
Was just going to say, can we get that dead cat to be a recurring meme, like the Deer ? Makes the drudge go smoother.
"dead cat ... recurring meme, like the Deer"
word.
I had to scroll back up to see that :-)
My V10 excursion fucking loves the gas price.
Best holiday present ever.
Let it go down to 50. Better yet. Better than a Big Mac, and lovin it.....
Keep dropping.
must be all that "growth" in global/US economic activity.
Relentless economic war being waged against Putin. And Iran and Venezuela being destroyed is a bonus.
I'm sure its bullish for the Bakkan shale and Canadian tar sands though... s/
This is 2008 x 1000.
Oh my God... that would be... 2,008,000...
nope it's like 4x4- so it's just 2008x1000
Either that or this is the tide going out before the big wave comes in.
I don't think people understand what the definition of "destroyed" really means.
Are the people still there? Are all the physical assets still there?
Not quite Hiroshima is it? Oh my God, they will all have to trade with someone else...
Putin regine is a small player in oil industry, only 10%.
Putin regime has some ideas to help the struggling Russian economy. None of them are going to work.
http://foreignpolicy.com/2014/12/05/can-anything-save-the-ruble-russia-e...
.
Nice successful comical attempt. But hey, in Latvian SSR, must strive for daily potato.
Yeah because "Foreign Policy" is a source and not one of many ZioNWOCON loudspeakers.
Must be time to buy the Excursion I've always wanted.
It looks like the shale play is going the way Walmart went on the Mom & Pop retail industry.
A few big boys will come in and buy the late comers and weak hands out for real cheap
We fracked some folks.
Nonsense. This is all manipulation by the U.S and their Saudi bitches. It's got nothing to do with supply and demand.
While some may be happy about this (who does not like lower gas prices?), what this shows to me is that the PTB can do whatever the hell they want and that oil did not have to trade that high all those years.
Oh and lest I forgot, this also means they can jack prices back up whenever they need to to so to serve their interests.
Take the US out of it, and you might be right. It's killing the most important American industry, its biggest GDP (and revenue) generator. That's the whole point of the Saudi plan. To rub some salt in the American wounds, they also sell their oil with a DISCOUNT to the US (compared to Asia, for example...)
I don't believe for a second that it is. Get back to me when bankruptcies are publicly announced. Until then it's just speculation.
Use simple logic. The House of Saud is absolutely nothing, and I mean nothing, without U.S. military protection. They would never, ever, do anything to hurt U.S. interests.
Substitute "Israel" for "House of Saud" and see how your argument works then.
Super softening to make the slaves say things like "Hey! That's more like it" and "Now if we can just get a replublican in the white house instead of a democrate we should be ok...duh".
imho .. Society is only a jab away from anarchy. Probably just the HAARP and chemtrails talking....hic!
Crude Oil at 65.60$ For specualtors that like to catch dead cat bounces, a 3 to 1 R/R Trade looks great.
10% lower to 30% higher.
The daily chart formed today a higher low. If the low from ealy this week at 63.70 Holds next week, a decent bounce begins IMO.
Trade your plan.
Any operation, to the extent that it hedged its forward oil costs at higher prices will not experience lower input costs. Just a thought: transportation, mining, agriculture, for starters.
There is a recent Washington post article talking about low oil prices is protection against inflation. Then there is this little tie bit that might explain why Saudi Arabia is trying to lower prices.
"Although falling oil prices lower inflation, the Federal Reserve tends to view that as a fleeting effect that would not alter its underlying judgments about policy. Nonetheless, Dudley said, “the slump in oil prices may also help to persuade” the European and Japanese central banks to implement further monetary easing as prices remain subdued."
http://www.washingtonpost.com/business/economy/as-oil-prices-plunge-wide...
love the kitty
The price for oil is made artificially, because the government and other countries regulate it. Also the US makes a great impact on it. However the level of this price does not make any significant changes in economical situation. We still have problems in labor market. Because due to our politic we have loads of foreigners who are ready to work for less salary. That is why today there are a lot of people who need monetary help of direct online loans lenders only. The other problem relates to the unpaid loans, such as house and student loan.