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WTI Squeezes Above $52 As Gasoline Prices Start 2015 With Biggest Surge In A Decade
Great news!! Oil prices have "bottomed" and WTI is up over $52 now... from under $44 just last week. But... gasoline prices have surged almost 24% in the last 3 weeks... the biggest seasonal rise in over a decade.
Oil prices are rising and saving stocks...
But gasoline prices are soaring...
Does the US consumer want rising or falling oil prices?
Charts: Bloomberg
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It's a miracle!
Barry says No soup for you!
everything is awesome.
Refinery strike.
please explain your logic on that one
roughly 12% of US refinery capacity is offline due to a strike, hence gas price rise. why crude is rising is another matter.
Those refineries continue to run....though the gas prices could be reacting to the POTENTIAL for further disruptions
or crude going higher.
I've been heating my house with gasoline for years!
And when I have a party is the beverage of choice!
Refinery strike is only at the refineries that are having a schedualed maintenance shut down. Bring in the scabs and pay them min wage, corporate saves, unions look like they're doing something and poor joey sixpack is desperate to make any concession to save his job.
Does it make sense now?
eta link for ya
http://gcaptain.com/oil-workers-strike-seen-prolonging-u-s-refinery-repa...
i'm guesing it is midget trannies doing some of the buying
signed:
Unger Pantz
Gnome, AK
I am so sick and tired of hearing the US is the "least dirst shirt". That's a lie, it's the dirtiest shirt, we are the MOST idebted nation on the planet, we produce nothing, we print the most money out of thin air....stop with the lies....I can't fuckign take it
US just has the best most influential criminals.
35% of ALL americans have debt in collections, we are the most indebted people EVER, most live paycheck to pay check and have no savings, some how how that makes us the cleanest dirty shirt??? please explain how that works agian!
I'd really love to know
because the US is still the world's sole superpower
its sole reserve currency
and the world's (developed world) agenda setting master
consider it a privilege of the empire - you get more "benefit of doubt"
Oh Fuck Yeah....Ameericans WANT HIGHER FUEL prices. Nothing says WE'RE AWESOME than the sheeple asking for higher prices. Jeez...What a fricking joke....Wish those Goldman Assholes and the Fed would do a Corn and Soybean Ramp cause being a farmer right now SUCKS ASS.!
I must be living in some personal Bizarro world, cause all of this shit is just mind numbing.
There is no actual 'price' when it can just go from 110 to 43 and back to 110 in a few weeks, just all pure bullshit.
The Fed might like the consumer spending numbers generated by $110 oil better?
correct sd1, but there is plenty opportunity for short term investment.
what really matters is that the spice///disregard/// oil must flow at a fixed rate (about 90-95 million barrels/day).
it will do so, regardless of price. whoever is diddling around on the margins of supply or demand will set the price for that day.
mericans like higher prices to be macho when they fill up the hog.
Poor baby. I'm delighted to get diesel for $4/gallon, patting myself on the back for my superb timing. The US is a net importer and Canada a net exporter but you fill up with CDN fuel for half what I do.
Here's a quarter...
If you believed Zero's doom and gloom... you just missed out on perhaps the greatest buying opportunity we'll have all year. If you weren't buying oil stocks in January because, "this time it's different", or TPTB, or whatever bear slogan used to make you actually believe the basic economics of oil pricing DON'T exist... Well, chances are you've also been sidelined since 2009 and just as broke and bitter. I hear gold is a great "investment"!
I am getting to the point where I have to agree with trolls like this guy - up arrow for this bitter, broke person
Yep, BTFDAX New DOW.... Been saying it since Draghi' QE and it's made me a stack... FTD
Fuck the Dissenter's. I may not agree with any of this shit but I'm a trader and here to make money only
realist du jour.
How about putting your money where your mouth is. I see you were a member a month ago. Where were you?
If you are so smart, explain why the 'basic economics of oil pricing' had oil drop to the $40s. Or were you on another site bashing all the oil longs who kept trying to catch falling knives.
It's easy to pick winners after the game.
fucktard made a couple hundred to help ma with the bills...
yup 1.72 last night ....1.85 this morning ....over 2.00 tomorrow ...
glad people did their part and bought all those gas guzzlers SUV's from GM !
Then next week oil will probably be back down to $40 again....whatevs.
I found out the hard way in learning trade that, along with standard charts I always need on my screen (SPY, VIXs, etc.), there’s always a ‘topical’ item with the potential to foil all of your fancy indicators, and you need to have that annoying thing on your desktop each quarter.
When I first started a few years ago it was the Euro and gold, then APPL was everything (with so many levered long AAPL/short S&P, AAPL downdrafts were a sign of unwinding and led to late-day SPY ramps), then the 10YR TSY, and now, of course, it’s oil.
Thus, at noon many day traders may have been short equities, as technicals pointed to a potential halving of the highs or even a round-tripper, but when oil spiked like a sonofabitch just before 12:30, it was time to reluctantly cover. Though JPY has been tanking (see Tyler’s ‘crowded trade’ article), it hasn’t mattered – stock gains, thus far, are preserved. One would think oil would therefore be the driver through the close.
Congratulations!
tldr: BTFD
Oh Fuck Yeah....Ameericans WANT HIGHER FUEL prices. Nothing says WE'RE AWESOME than the sheeple asking for higher prices. Jeez...What a fricking joke....Wish those Goldman Assholes and the Fed would do a Corn and Soybean Ramp cause being a farmer right now SUCKS ASS.!
I must be living in some personal Bizarro world, cause all of this shit is just mind numbing.
CNN Breaking....Saudi King says oil has hit bottom...may skyrocket to $ 200.00/bbl......What happened to Fucking Putin uip the Ass? lmao
$110 to $40, next stop $200! Obviously fun-derp-mentals driven 100%.
Sounds like a Bull trap to me...
Not a currency trader but maybe rubles are the way to go here....
Would love to have been a fly on the wall during last Friday meeting between Norway, Saudi and Russia. Is Saudi switching sides in return for Syria which the US failed to deliver to the kingdom.
If I go long oil/drillers, the price will go to $20/barrel.
If I go short, it will go to $75/barrel.
Is this a dead-cat bounce? Or just people unwinding their shorts? Or has the bottom hit?
WELL, I DID SEE THIS COMMING! HAHAHAHAHAHA
In this world, nothing stays cheap for long. But now I just sold everything 5 minutes ago.
My seadrillers where all up 50% in 3 weeks so I’m happy :)
Now just another silver and gold spike and my stock account is empty
Sold one of mine (up too much!) but holding some others. Hard to dump something that is still down 30% and is in an industry that produces a finite supply of a necessary resource.
Some big dummy was in here several days ago saying a countertrend rally would likely emerge from the $40-$45 zone and break the 10 week and tease full throttle penetration to suck in a new bandwagon of Kool-Aid enthralled longs.
Speculators! Evil speculators!! What is the status on the Congressional hearings about speculators driving up prices!!!
The status of the Congressional hearings is that the checks sent to Congress by the eveil speculators have been safely deposited.
OK, Vlad's been spanked. Back to business now.
Got to love a full one month protracted decline undone in two days. Can we go for two months of decline undone in 3 days?
The volume on the upticks is probably pathetic as usual.
If we get to $80 a barrel by friday people are going to go apeshit when gas jumps $1 a gallon in one night.
The solution as always is to kill every fucking banker on sight. The rise in oil prices is due to Goldman and the other commodity brokers manipulating the market higher using their spoofing algos so they can unload all the contracts they bought last month for a quick profit. Then they'll drop oil 10% and load back up on the contracts they just sold.
The drop to $60 - $65 was probably real due to lower seasonal demand. The rest of the drop was the TBTF and big hedge funds setting up their long oil positions. I am happily sitting on oil services stocks I got near the lows, and that helps smooth out the 30 cent increase in gasoline prices over the last week. There are a couple of oilies that haven't bounced with the rest of the sector, so I am looking at those now. I see $80 oil and $3.00 gas by April. Place your bets!
This is great news!
Higher gas means less driving.
Less driving means fewer miles on the old wagon.
Fewer miles means less wear and tear.
Less wear and tear, fewer repair bills.
Less wear, higher trade in value.
Higher trade-in value, the more cash in your pocket.
Unless of course they raise the price of cars, and insurance, and registration, and gas tax on miles driven, and repair costs, and the price of tires, and the tax per gallon and ……… but that could never happen in a central banking economy.
/sarc/
Keep buying all the way down was my advice a few weeks ago. About time to take some off the table....
US consumer just wants to be left alone.
Is it really over this quick? It might be.
Or the Fed is mixing in commodities?????????????????
Too soon. The shale producers aren't dead yet. If it runs back up this fast they'll survive with just a quick hibernation and we'll have a few more waves of crazy volatility of this magnitude over the next few years.
What did the president of OPEC say about 10 days ago? It was going back up soon.
Their minions may only take it to 55-60 for a while, but that's a little more cream for them and enough to still crater rig counts in the US and Canada.
How much you wanna bet that even if oil was to continue to surge another $20 a barrel, it will never affect either the CPI, or PPI?
Does the US consumer want rising or falling oil prices?
Nope. This is pump and dump by the banksters.
Did I miss the bottom? I was hoping to be able to pick up some UCO for $5. Please tell me this is just a head fake.
For a second there, I thought oil was tracking supply and demand. Good to know that's not the case.
And the oil inventories, are they still in a state of total oversupply? If so then this recovery wont be going far.
Aaa hahahahahah haha hhahahahahahahahahahahahahaha !
NOW i feel better.