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WTI Crude Spikes Over $59, Up 9% From Lows: Biggest Intraday Swing Since April 2009
No obvious catalyst yet, aside from pure triple-witching anticipatory stop runs, but:
- WTI CLIMBS AS MUCH AS 5.5%; BRENT GAINS AS MUCH AS 5.8%
Lifting WTI over $59 and Brent over $63. In fact, the $9 surge from the lows is the biggest move in crude since April 2009!
The move has the feel of a liquidation and we note that NOK has surged as this move in crude occurs, totally decoupling from earlier correlations.
As Bloomberg reports, Russia Government Supported Ruble Ahead of Putin Conference
“They want to reduce volatility and strengthen the ruble, and they are preparing the ground for Putin’s speech tomorrow,” Per Hammarlund, the chief emerging- markets strategist at Skandinaviska Enskilda Banken AB, says by e-mail today.
“It’s the ruble’s ‘P-Day.’”
President Vladimir Putin will hold an annual media conference tomorrow.
* * *
So Russia is selling USD, supporting RUB, which is sending energy higher, which is causing a short squeeze, which is pushing stocks higher.
* * *
Additionally...
- *NIGERIA CUTS FEB. BONNY CRUDE EXPORTS TO 5 CARGOES VS 6 IN JAN.
Most active futures contracts since 10am - can you spot Crude oil? $CL_F pic.twitter.com/7BjDqLiSUd
— Eric Scott Hunsader (@nanexllc) December 17, 2014
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in the new normal, "because" is a valid reason.
World War 3 rumors.
Yet silver and gold haven't budged!
When they don't drop it's a win
$59 BAD DIP >> few days >> $59 BIG SPIKE
So who's the mook here that filled up their truck this morning to cause this spike!?
Damn! I was seriously thinking about going long ALL WEEK. This always happens to me. The price has been going down for so long, it's clearly bottomed now. I can't believe I didn't go long today - I'm such an idiot. Do you guys think it's too late to buy now??? I really don't want to be cut out from this move. I want to take a position but I'm scared. What should I do?
You should leverage buy it. Leverage your house, your Chinese 12" tv, your wife, your dog, your kids, and your nut sack.
Yes, the bailout for "energy credit" has been pre-approved. I suggest you leverage everything you have ASAP!
buy UCO jan 2016 calls and just sit back and relax. Or........... buy RUSL, 3x etf Russia. It's up 26% today on oil's move.
Do you have an opinion if UCO or UWTI is the better ETF if one wanted to take a long position in anticipation of a rise in crude oil prices?
Depends on your timeframe because uwti does not have options, uco does. I would not want to be long any 3x etf if it goes the other direction, however, with calls that expire a year or two out, who gives a fuck if oil sinks to $45 and then ends up at $90 by year end?? A 3x etf that's already 5-6 bucks could go to pennies. If you are playing an oil rise and believe it's time right then, sure.... uwti would be awesome for you.
Thank you for your reply. An acquaintance of mine at JPMorgan also recommended UCO calls.
I am not yet convinced that crude oil has reached bottom, but it seems to me that too much economic harm around the globe could be done if oil stays low for very long. I am inclined to believe OPEC nations will not ride this out as long as they seem to be suggesting. If any major oil-producing nation comes out and hints at a production cut, oil could move up fast.
The one factor not pointed out by the media is lower oil prices takes away an industry that had a significant part in the strength of the U.S economy. These lower prices if maintained could affect a lower GDP.
Me. 295 Gallons No2 Diesel in farm semi tractor trailer and 2,500 gallons in on-farm storage. $ 2.27 gallon.
I wonder if Putin has made some kind of 'accomodation' wirh the West and as a reward they've stopped hammering ruble and oil?
<- Falling oil good for economy
<- Rising oil good for economy
<- Anything putting taxpayers on hook for MOAR bank/Wall Street gambling losses is good for economy
<- Anything putting taxpayers on hook for MOAR bank/Wall Street gambling losses is bad for economy
<- Welcome to Costco. I love you.
<- Carl's Jr. Fuck you. I'm eating.
<- Go away. Baitin'
I gave you an up vote on the premis that is will hasten the falling of the house of cards and allow us to return to some sound monentary policies.
<dupe>
Really only about four trading days left in the year.
Don't start buying until it hits 60!
Say What?... all because the CBR joined the Wall St Casino, with its Central Planning Games?
Now we're all good and will soon be best of pals, hi-fiving it on the ISS (int. space station)? Next stop... "Mars or bust!" ?
Now I'm really confused. What should I dress for? Rain or shine? Heat wave or Polar Vortex? Or did those aging/dying Baby Boomers (that they blamed for the likely drop to $25) just come back to life? WTF?
These are our "efficient" markets where abnormal swings are the normal.
The FED's hand is all over this. They cant let deflation take hold. They control EVERYTHING.
Wait...what?
levitation
Yep, its all magic from here on.....
Wait what?!? Are you saying people/economies still need oil? WTF happened to all those fusion reactors?
LOL!!!
fed leak?
a leak isn't necessary. i can tell you how it will go today. the statement will be missing a word which will be construed as hawkish by the algos. this will cause a selloff. then, when the time is right for the whipsaw, some fed maggot or other will come out and say something dovish. then the next day someone else will say something contradictory. and on and on. there is no market, there is only the fed.
Well Bullard needs something to do besides watch porn all day.....
"There are no markets anymore, just interventions".
Chris Powell (GATA) April 18th, 2008
Any chance that this is an intentional, pre-FOMC speech ramp? Yellen is then able to continue with the "economy is improving" narrative and suggests that interest rates will be bumped up in the near future. Gives the charts a nice headstart in the upward direction before the massive "we won't be getting QE4" dump.
So obvious the Fed is buying oil ETFs to lift the markets before the speech. However, it really doesn't matter what the Ponzi Munchkin says. CNBC would emphatically tell their 12 viewers that her words were misunderstood -- it was code for "QE4 starting tomorrow".
Now why would the manipulators want to do that?
fake, oil will go down
central banks just starting buying oil ETF shares?
Real. Free. Efficient. Markets.
Ooh.
that was funny, looked away for a few seconds when it was up 1%...next glance at the screen its 5% up! total double take...start banging the side of the computer..
I'm currently seeing $56.60. Where's $59?
http://www.investing.com/commodities/silver-advanced-chart
looks entirely normal ...
Yeah, totally not rigged or anything.
that's bangin', right? [/agent j]
Spike on a bit of short covering . It was holding so people prob thought this is the bottom. I'd say it continues on down again
Bottoms up bitches....btfd.
$FSTO up 38% today...
Word on the street is Janet's been buying WTI in advance of the Fed announcement this afternoon.
One word....Thorium.
apparently, saudi is buying future to profit. next move is higher crude oil price, much higher.
The current financial system is a destabilizing force in the world. Think about the people trying to do business with crude oil bouncing around like this.
Crude oil wouldn't move 50% in a decade if it weren't for derivatives trading on 98 percent margin with effectively unlimited position sizes for the banksters.
This system is broken and serves only it's master which is the global syndicate of ziomafia banksters who are raping and pillaging the world.
That really is some fun facts.
Perhaps the spike was in response to an attempt to isolate Russia even more using Cuba ?
Good point. Yes, resuming relations with Cuba is an obvious blocking move to Putin using Cuba as a way to get at the US.
They're really pulling out the stops, aren't they?
Get Cuba on the FedRes teat and bingo! suddenly yet another ZATO vassal state.
wingardium leviosa
It's a concerted buying effort by Russia to flush out short speculators, people will think twice before shorting, it's no coincidence that they reiterated that they will not cut production again today
Zees ees zee price stabeeleetee?
Because I was shorting oil by buying nail gun futures, that's why. I wouldn't be here to type this if my air compressor wasn't broken
What's the ZH consensus on the affect of super low oil on all those futures positions and derivatives thereupon?
http://www.counterpunch.org/2014/12/16/the-oil-coup/
Good thing Citigroup got that language in the House budget bill, eh?
http://www.nytimes.com/2014/12/12/business/furor-over-move-to-aid-big-ba...
I love how the White House "objected" to pander to its base, though. My *opinion* is that the cunning plan to fuck Russia and Iran with low oil prices hurts them both a lot - at first, but over time, begins to swing back to hurt the US, perhaps even more. I could be wrong, of course, I have no real sense of just what affect low oil has on derivatives over say the next 3 months.
Be too bad if a pipeline or two in Ukraine got blown up though, that's for sure.
The USD and EUR and JPY are absolutely worthless. And people are shorting RUB? Gots to be kidding me. Intentional drop of oil on purpose to try to get people out of the curriencies which are worth the most. These are all the currencies backed by resources and low debt.
Probably combination oil spike RCB news, Fed statement NOT GOING TO CHANGE FROM NEVER GOING TO RAISE RATES EVER!
Bonus Note: The Central banks can manipulate gold & silver through future contracts so any dreams of them becoming super valueable because you own the physical are gone too, sorry but they both are pegged. You have to own something they can't control which is valuable.
the usd is backed by the jew
Picture a ball bouncing down a set of stairs.
Great analogy -- Lower highs and lower lows!
so now we see it was some shorting hedge fund that just covered...nice raid...maybe time to regulate these too big to fail (at trading) market manipulating moving bastards
US oil inventories down and a halt on some fracking in the US pushed up oil
http://www.cnbc.com/id/102274691
Intewresting that the Oil ramp got the S7P straight up to 2000 where it has failed to hold, banks not particuarly drinking this koolaid either
Glut problem solved! They could make their market manipulation a lot less obvious, but maybe the Golden Sacks banksters needed a little bonus fluffing. . .But seriously, didnt the Goldman sellside shill publish about oil downside to $40 not 48 hours ago? HOLY SHIT THOSE FUCKERS ARE CORRUPT.
Someone thinks or knows that Put is cutting a deal.
So the international demand for oil that wasn't there and isn't there a few short hours ago, has miraculously reappeared hence the spike upward?
IEA, come in come in.
The starving Russians shot the wrong reindeer now Santa has to use his fossil fueled rocket to deliver all over the globe. You know how hard that thing is on juice carrying all those prezzies
I believe somebody on this site made the comment "with so many oil bears it might be time to take the other side of the trade". I wonder who that could've been.
Gartman gets bearish at another major low. The guy is horrible.
I pointed this out, and ZH just ignored it.
Why would any of us comment on Gartman? His opinions are irrelevant to life in the universe.
Looks like a DEAD CAT BOUNCE. back Down tomorrow.
How pathetic from ZH to justify a supposed "spike" with a 1 min chart!! : ) ) !! If they are trying to "come up" with something why they don't just put a picture of Tyler Turden hair which is more spikier than oil at the moment.
how can this thread im in and this one below it be on the same page, new new new normal, go long bishes.
http://www.zerohedge.com/news/2014-12-17/russell-napier-oil-may-drop-25-...
It is this kind of non-sensical bullshit that occurs every hour on the stock market that makes the retail investor realize they have no idea what game is being played and therefore the safe thing to do is walk away. The same can be said about the bullshit happening in congress when a simple spending bill turns into 1700 pages and no voter has a clue what was in it, what their "representatives" knew about it, whether it was good for his constituents and so voting and party affiliation is crap and again is safer to just walk away. Americans have no idea what is going on in this country or others, but know they are being spoon fed and manipulated what the puppet masters want them to think and have opted out. American's have ceded America to the top 3% and are just focused like the land-serfs they are on trying to keep income coming in faster than bills have it going out...period. This is akin to surviving in third world countries where you don't dare pick up your eyes to look around at the corruption and waste as your can't hope to fathom a "fix" and better to worry about the only thing that seem in your control...you...