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Crude Collapses Almost 10% From Post-SNB Highs, Erases Yesterday's OPEX Ramp

Tyler Durden's picture




 

Well that escalated quickly. It appears those hoping for 'stability' are once again seeing any strength immediately sold into... Having smashed higher yesterday into the OPEX/close and then again this morning (breaking above $51 post-SNB), WTI Crude has collapsed back to $46.50... the scene of the crime for yesterday's "spoof"-ramp manipulation.

 

 

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Thu, 01/15/2015 - 14:58 | 5665945 WTFUD
WTFUD's picture

No volatility there then.

Thu, 01/15/2015 - 15:01 | 5665955 Buckaroo Banzai
Buckaroo Banzai's picture

pump, meet dump.

Thu, 01/15/2015 - 15:05 | 5665980 JungleCat
JungleCat's picture

Pump meets BUMP.

 

Thu, 01/15/2015 - 15:24 | 5666072 eclectic syncretist
eclectic syncretist's picture

Anyone short-term (hours or days) trading this market against the banks, I wish you the best of luck, but advise you to get out or go short along with the banks major positions.  The volatility portends a downturn, always has, and probably always will.  It is the odds play, historically speaking.

Thu, 01/15/2015 - 15:32 | 5666104 Oracle 911
Oracle 911's picture

I told you, it is a dead cat bounce. (Well result of spoofing, but it is a triviality.) 

Thu, 01/15/2015 - 15:03 | 5665966 SheepDog-One
SheepDog-One's picture

Yep, just 10% hourly swings in base global energy prices...nothing to see here.

Thu, 01/15/2015 - 14:58 | 5665948 thatthingcanfly
thatthingcanfly's picture

Yes, but for some reason I find it interesting that gold hasn't erased any of its gains. And the HUI is knocking on 200's door.

Thu, 01/15/2015 - 15:11 | 5666003 Sudden Debt
Sudden Debt's picture

1320 and maybe 1450 and well get more banker suicides

Thu, 01/15/2015 - 16:05 | 5666284 walküre
walküre's picture

the short squeeze in gold is only beginning

Thu, 01/15/2015 - 17:04 | 5666586 Jack Napier
Jack Napier's picture

That's because gold and silver already got decimated last year. Oil is still playing catchup. Stocks are on deck.

Thu, 01/15/2015 - 15:01 | 5665951 SheepDog-One
SheepDog-One's picture

We margin called some folks.

Thu, 01/15/2015 - 14:59 | 5665953 allinwood
allinwood's picture

Houston, we got oil slick problem

Thu, 01/15/2015 - 15:11 | 5666011 FreeShitter
FreeShitter's picture

And traffic problems!

Thu, 01/15/2015 - 15:04 | 5665959 Kaiser Sousa
Kaiser Sousa's picture

Exhibit A:

i offer u the last 15 minutes of trading on the fraudulent fucking CRIMEX IN NEW YORK....

http://www.livecharts.co.uk/MarketCharts/silver.php

EXhibit B:

the last 3 days of trading on the CRIMEX going into the Close in New York...

http://www.kitco.com/charts/livesilver.html

 

Thu, 01/15/2015 - 15:01 | 5665960 NoDebt
NoDebt's picture

That seals it, I'm ordering a new SUX6000 Turbo.

The commercial from RoboCop is twice as funny now as it was back then:

https://www.youtube.com/watch?v=fl8mQhxhE_Q

 

Thu, 01/15/2015 - 15:05 | 5665972 KnuckleDragger-X
KnuckleDragger-X's picture

i want the new Caddy with the 640 horsepower 'vette motor..... http://www.cadillac.com/v-series/2016-cts-v-sedan.html

Thu, 01/15/2015 - 15:17 | 5666042 NoDebt
NoDebt's picture

Hold off for a few months.  Caddy did a WHOPPER of a price increase on their whole lineup to put them more in line with comparable BMWs.  Nobody is going to pay the same for a Caddy as a BMW.  Maybe if Cadillac churns out cars as good as the CTS-V for the next 20 years, they will.  (And make no mistake, the CTS-V is a DAMNED nice car)  But not just now.

There will be rebates.  Oh yes, there will be rebates.

 

Thu, 01/15/2015 - 15:26 | 5666078 SheepDog-One
SheepDog-One's picture

And Cadillac is shit now anyway, all cheap plastic.

Thu, 01/15/2015 - 15:32 | 5666103 TuPhat
TuPhat's picture

I will never buy GM again.  Their plastic crumbles.  I'm thinking of a KIA.  My daughter has one, it seems to be made of better plastic.

Thu, 01/15/2015 - 17:28 | 5666696 quasimodo
quasimodo's picture

Exactly, most folks will not pay the same for a comparable Caddy, becuase at the end of the day it's still a Caddy, and that is one of the reasons Caddy sells as many cars as they do already, because they are not a Beemer or similiar. Say what you will, and even if they keep making huge improvements amongst some really sweet models in the current line up.......it's still a damn Caddy. That name alone is reason enough for a shitload of folks to not purchase one unless they are looking for something to beat the shit out of over the weekend.

Thu, 01/15/2015 - 15:03 | 5665961 F0ster
F0ster's picture

Hey Tyler, did Russia just cut the gas to EU?

Thu, 01/15/2015 - 15:03 | 5665968 Frank N. Beans
Frank N. Beans's picture

yeah what did natgas do on the heels of yesterday's spike

Thu, 01/15/2015 - 15:15 | 5666031 new game
new game's picture

some things are predictable. i have no stomach for any trades. at 2.80's;the old me would have been in hand over fist. can't do it anymore. very very tempting to open a trading account. the ole hin dsight thing...

Thu, 01/15/2015 - 15:04 | 5665964 Jack Burton
Jack Burton's picture

Right now all fundamentals point to oil going lower, the politics of oil also point towards lower oil. Look at production, there is a large oversupply ON the Markt right now. This sends prices lower, and for present, oil is going lower.

As for the Gas war in Ukraine. The EU was just shown the door by Russia, the EU has demanded and then asked for Russia to comply with all the EU's gas demands. And for Russia to fill Ukraine with cheap gas as well! This is now all off! Russia will build a pipeline to Turkey, and any and all gas going to Europe must go that way, and the EU must build all the connections themselves, with Russia stopping at the Turkish border with their distrubution hub. The ONLY gas going to Ukraine will be gas sold to Ukraine, meaning all transit fees Ukraine has gotten will dry up. Germany has secured it's gas, now it has fucked the SE of Europe out of theirs. This will not sit well. To Quote: " Maroš Šef?ovi?, the week-old European Commissioner for Energy Union must have had the worst day of his life. EU arrogance hit a brick wall. A major scandal is brewing about how Germany ruthlessly secured its own gas supply through the Nord Stream Pipeline and then used all means possible to sabotage the South Stream pipeline. There is no better cause inflame the North-South conflict in the EU. The prospective users of the South Stream pipeline are sure to feel “eternal gratitude” to the United States for killing the project.

The perpetual EU candidate Turkey will feel Schadenfreude watching the EU's plight while calculating the future revenues from gas transits. Turkey also happens to be Gazprom's second-largest customer after Germany. The biggest loser will be Ukraine, the world's preeminent gas siphoner and blackmailer."

Thu, 01/15/2015 - 15:10 | 5665998 new game
new game's picture

jack, good analys'! the deck chairs are being rearranged all curtisy of cb'r's.

zirp/krugman debt ponzi is going into contortions. the demand brought forward is unwinding w/o further liquidity. we will find market equilibrium as only a few nations have a balance sheet that isn't bk or verring to the abis. russia and china(after much carnage) will stand with a chance to emerge as leader going fwd. my vote is russia(china backed) with low debt to gdp and oil reserves(w/nukes to say fuck you)...

Thu, 01/15/2015 - 18:08 | 5666950 InvalidID
InvalidID's picture

 

 How many times has Russia defaulted? Yeah, they aren't going to be leading the pack sorry. In fact, I'd be willing to bet someone like Soro's is going to make a killing on the next Russian default.

Thu, 01/15/2015 - 15:12 | 5666002 astoriajoe
astoriajoe's picture

Wasn't it Turkey who was the intermediary to supply Gold to Iran for their oil?

probably just a coincidence.

Thu, 01/15/2015 - 15:02 | 5665965 new game
new game's picture

saw 50 y'day and thought "we will NEVER see 50 again, ha...

Thu, 01/15/2015 - 15:03 | 5665967 Automatic Choke
Automatic Choke's picture

a good lesson for economics students.....the need for cash flow is subverting the standard price vs supply curves.....

positive feedback is not good for stability.    i predict more volatility.

Thu, 01/15/2015 - 15:04 | 5665976 InvalidID
InvalidID's picture

 

 What? Oil crashing? But Russia just pulled fromt he petrodollar AND dick slapped Europe... Oh right, non-events hyped here for love of bear cock.

Thu, 01/15/2015 - 15:07 | 5665991 elegance
elegance's picture

GRU agent Durden has to earn his living somehow...

Thu, 01/15/2015 - 15:12 | 5666015 InvalidID
InvalidID's picture

 

 Lotta paid trolls in here the last few years. They were fun for awhile but I've kinda grown bored with them now. Russia, Putin, China... Yawn, same story different day. Just like gold will break out and the dollar will die. If the dollar was going to die any time soon it would have collapsed under the banking crisis. As it stands now, the NWO wants the dollar in place, in front, and in charge.

 Putin (if he's REALLY trying to pull out of said system) doesn't have the ass to back up a serious challenge to the system. Not with India and China following lockstep. And lets not kid ourselves, China isn't going to FOLLOW Russia anywhere. China would more likely take what it wants from Russia, or buy it, but never save it or try to kill the system that created it.

Thu, 01/15/2015 - 20:18 | 5667647 ReactionToClose...
ReactionToClosedMinds's picture

some say House of termites Saud.....due for a turkish revenge inspired bout of instability .....courtesy of a seriously strategically engaged russky president.  But egypt and a few others have to be mollified.....but that has been done before.

2015 or 2016?  any guesses out there?  Just askin'

 

Thu, 01/15/2015 - 20:19 | 5667659 ReactionToClose...
ReactionToClosedMinds's picture

bonus comment:   am sure Valjar sees things clearly .....so mommy will save them/us just as she always has ......

Thu, 01/15/2015 - 15:11 | 5666006 nope-1004
nope-1004's picture

Frame of reference is all shot.  A 5% move up in 24 hours, then a 4% drop in the next 24 hours is normal?  lmao.  9% in 48 hours?  What would that do to your mortgage if rates moved like that?

And bear cock has more use than bull shit.

 

Thu, 01/15/2015 - 15:16 | 5666039 InvalidID
InvalidID's picture

 

 Yeah, because the price of oil and my mortgage are very similar... Aside from that lunacy, welcome to the new normal. Still doesn't mean shit. Putin has nothing to back up his play, he's in a corner and it's crashing in around him. You know how I know? Come on, guess.

Thu, 01/15/2015 - 15:26 | 5666070 nope-1004
nope-1004's picture

Ummmm.... I didn't bring up Putin, so let's try to stay on topic.  We're talking about percentage moves.  Your reply is interesting, revealing how ignorant you are by admitting that UST's are not an asset, because, as you say, your mortgage and oil are unrelated.  Now that farcking funny, dude.

You idiot trolls are all the same.  Can't even make a cogent remark.

Thu, 01/15/2015 - 15:27 | 5666079 Max Steel
Max Steel's picture

They get paid for that . 

Thu, 01/15/2015 - 15:51 | 5666212 nope-1004
nope-1004's picture

Another useless piece of skin infecting the internet.  No Max, I didn't click your spyware link.  But for those that did, go here:

http://www.howtouninstallmalware.com/how-to-uninstall-torntvs-v10-1-1-ma...

 

Thu, 01/15/2015 - 15:28 | 5666091 InvalidID
InvalidID's picture

 

 Is oil tied to UST or UST tied to oil?

Thu, 01/15/2015 - 15:40 | 5666148 TuPhat
TuPhat's picture

There is a reason they call it the 'Petrodollar.'  You could learn a lot by reading.

Thu, 01/15/2015 - 15:46 | 5666186 InvalidID
InvalidID's picture

 

 Yeah, they call it the petrodollar because you need dollars to buy oil. You need dollars to buy oil because the US agreed to protect Saudi oil from Russia. So the petrodollar is backed not by oil, but by military might....

Thu, 01/15/2015 - 15:47 | 5666194 walküre
walküre's picture

A lot of things were called a lot of names... nothing is forever

get used to it

America's days are done. Fear and paranoia for Americans and all those who associate with America and the rest of the world evolves around them breathing real freedom.

Thu, 01/15/2015 - 17:27 | 5666697 InvalidID
InvalidID's picture

 

 Show me this real freedom you speak of, where might I find such a rare and wonderous gem among men?

Thu, 01/15/2015 - 15:05 | 5665978 wmbz
wmbz's picture

I read a story out Houston this A.M. stating filings for bankruptcy in oil and related bidness were starting to climb at a fair clip. I'm a little suprised at how many don't have enough pad to weather even a few months.

Or they believe that lower prices will be around a while and want to beat the rush!

Thu, 01/15/2015 - 15:11 | 5666013 new game
new game's picture

no liquidity and cut off, pardon the pun...

when your dick gets cut off blood flows...

Thu, 01/15/2015 - 15:08 | 5665987 InvalidID
InvalidID's picture

 

 I think more than a few players were on the razors edge anyway. This is a good excuse to pull the plug and walk away with whatever they managed to pillage.

Thu, 01/15/2015 - 15:09 | 5665999 mandea
mandea's picture

But, but, wait a sec, ZH does not tell us anything about the Armenian scandal? that people there just say: enough putin! ? and they try now to break into USSR embassy?! shit, soon the whole Caucasus is going to be in a big, big, trouble. But, please ZH, let us know...we are tired of listening of imploding western world and the imminent BRCIS big-bang------

sure, ZH keeps informing  us about the coming USD crush, and how BRICS will rule our world:))))

RT, english version:)

come on dudes...!!

Thu, 01/15/2015 - 15:21 | 5666064 SheepDog-One
SheepDog-One's picture

Armenia? Good god, this really is serious now!

Thu, 01/15/2015 - 15:25 | 5666069 rejected
rejected's picture

Have you checked how many Western military personnel have been involved in rapes, murders and robberies? Say in Japan, or Africa. Your use of USSR implies your bias. Wait for the investigation. It may surprise you.

---A criminal case has been launched, and serviceman Valery Permyakov, from a Russian military base in Gyumri, is suspected of the murders, as boots bearing his name were found in the house of the murdered family. ---

Boots with his name in them.... That was pretty convenient. Just saying.

Thu, 01/15/2015 - 15:34 | 5666118 mandea
mandea's picture

Sure, that is known by all of us so what does it tell? some fucked up guys did it badly, sure is truly sad and those guys will be punished or are already punished.

But, let me ask you smth; did you hear about countries that were distroyed by the soviet system? not by some guys that drink too much, no, but by a whole state/system, called russian imperialism?

Check north koreea, cechnya (>100k people killed), tatars from crimeea (find some of them in northern siberia), moldavians(those killed may rest in peace, the rest endured too much in uranium mines) from moldavia, georgians, afgans, mongols, all these who said no to russia, what happened to them? Do you really want that back?

There is an old saying (ask a competent granpa): where the russian passed, nothing will ever grow. 

Check that.

Thu, 01/15/2015 - 15:47 | 5666187 Nehweh Gahnin
Nehweh Gahnin's picture

Yeah.  And that is surely not the case with the Merikans.  No Sioux, Arapahoe nation, not the Vietnamese, not Iranians, Guatemalans, Nicaraguans, no Jamaicans, Filipinos, no Haitians, no Cambodians, or Iraqis, or Afghans, no Koreans; Merika has never hurt anyone with their benevolent, shining example of humanitarian authority.

Thu, 01/15/2015 - 16:01 | 5666269 mandea
mandea's picture

Dude, what has to do america with that? I did not mention america. Sure, they have their own shit. But, i mentioned russian imperialism. That is simply too brutal. You simply have not ideea what does it mean. 

 

Thu, 01/15/2015 - 16:36 | 5666460 Nehweh Gahnin
Nehweh Gahnin's picture

Then what was the relevance of your comment?  The Russians have a much longer history of warfare, but at least they can point to the fact that nearly all of it has involved their own borders.  As opposed to transporting slaves en masse from Africa, exterminating the indigenous peoples of the western hemisphere and following that up with the continued oppression and extermination of the survivors, and the imperialist, global subjection of people of all nations, even including the dropping of nuclear weapons on civilian cities and the destruction of forests and fields with massive doses of dioxin sprayed from C-130s.  Simply too brutal?  Compared to what?

Thu, 01/15/2015 - 15:48 | 5666196 TuPhat
TuPhat's picture

You actually think the Russians did North Korea, and if you check I think the U.S. is the country killing brown people in Afghanistan and all over the ME.  Just because ZHers don't particularly like U.S. imperialism doesn't mean they are in favor of Russian imperialism that happened decades ago. 

Thu, 01/15/2015 - 16:04 | 5666285 mandea
mandea's picture

wait, russians started that long time ago. Afganistan was an OK country until russia invaded it. A conflict that ignited the muslim hate. Russian did not kill with drones, they erased entire villages with flamethrowers. Bud, read some history.

 

Thu, 01/15/2015 - 16:20 | 5666360 walküre
walküre's picture

CIA was and is still growing Opium in Afghanistan to fund itself. Russians wanted to build pipeline through Afghanistan and invaded. CIA and MIC didn't like that for obvious reasons.

CIA trained Mujahedin to fight Russians in Afghanistan. Mujahedin became Taliban and large part of Al Quaeda after that and blowback happened. CIA trained and funded ISIS to fight Syrian regime and blowback is happening now.

See a pattern here, doofus?

Thu, 01/15/2015 - 16:31 | 5666439 mandea
mandea's picture

sure i see a pattern here, so please re-read yoursele:  "Russians wanted to build pipeline through Afghanistan and invaded"

That's exactly how they do it: if they want to do something, they firstly invade. Then they ask you if you want that pipelin or whatever.

Now, do you see a pattern, dude?

:))

Thu, 01/15/2015 - 16:55 | 5666545 walküre
walküre's picture

I see what you're getting at. You are bitching that the Soviets didn't hold a dog and pony slideshow at the UN before asking the UN for approval to invade. I get it. You think the Russian optics aren't so good.

Cannot disagree with you that MIC and Hollywood have probably perfected the propaganda warfare and that they make everyone else look like a B class actor.

Tell you what though, the US cannot pretend forever. Nobody can. The ranks of the gulible and willing have started to disintegrate long ago. The spectacle around 9/11 may have something to do with it but I imagine it goes back a lot longer.

Let's just see where this all goes and if smoke and mirrors will continue to rule the world or if the real deal stonecold truth is eventually going to seep through.

Educate yourself. Over.

Thu, 01/15/2015 - 17:39 | 5666754 InvalidID
InvalidID's picture

 

 So to build a pipeline invasion was required? No one thought to just spend some money and cut some deals? Has been working really well for China....

Thu, 01/15/2015 - 15:51 | 5666215 walküre
walküre's picture

The US's main contribution to the world is war and debt (paper). Oh, and the latest Hollyweird craze of pumped up asses.

Enjoy that lifestyle while it lasts. Sucking the world teet is coming to an end.

Thu, 01/15/2015 - 15:21 | 5666056 NoWayJose
NoWayJose's picture

Contact in North Dakota in oil services says he is down in Texas trying to find some customers....  good luck to that!

Thu, 01/15/2015 - 16:00 | 5666261 clade7
clade7's picture

Bummer!  If he had stayed put in ND, had a nice scoped 22-250, and knew how to work a Talley-ho, he could have made several hundred $ this week with this barometric change moving in and it being breeding season for 'yotes...prime time!  Of course, theres fleas involved...but I assume that is also the case in Houston looking for clients...

Thu, 01/15/2015 - 15:32 | 5666102 walküre
walküre's picture

oil breaking below $46 today and falling ... there is NO upside

Thu, 01/15/2015 - 16:28 | 5666412 falak pema
falak pema's picture

Oil has a heavy bum when its weighted down with the blood of fifty lashes per day.

Thu, 01/15/2015 - 17:17 | 5666663 NubianSundance
NubianSundance's picture

What doesn't kill you makes you stranger...

Thu, 01/15/2015 - 17:35 | 5666720 InvalidID
InvalidID's picture

http://www.bloomberg.com/news/2015-01-14/bank-of-russia-picks-new-moneta...

 

 Russia’s central bank replaced its head of monetary policy after President Vladimir Putin criticized the failure of emergency measures to halt ruble’s decline.

Dmitry Tulin, a former central bank official who also worked at the International Monetary Fund and Deloitte LLP, will take on Ksenia Yudaeva’s role as first deputy governor in charge of monetary policy, the Bank of Russia said in a statement yesterday. Yudaeva, who remains a first deputy to Governor Elvira Nabiullina, will focus on forecasting, strategy and financial stability, she told reporters in Moscow.

 

 The Great Pooti Poot has spoken!

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