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Crude Pops On "No Nuke Deal", Then Pump'n'Dumps On Bigger Than Expected Inventory Build
Shortly after the US equity mnarkets closed, headlines crossed from Switzerland seemingly confirming "no deal" with Iran...P5+1 MINISTERS PLAN TO LEAVE LAUSANNE IN MORNING but that was quickly watered down with a warning that Iran has until dawn to agree to the deal. This sent WTI up modestly and then API Crude inventories, which were expected to rise 4.2mm barrels, printed 5.2mm barrels - the 12th weekly rise in a row. Crude was slow to react but after a brief fade, shot higher...
As Bloomberg reports, World Powers Tell Iran They Want Deal by Dawn, Diplomat Says
Six world powers have told Iran that they won’t extend talks over the country’s nuclear program into April 2, a diplomat from one the six said.
The foreign ministers of the P5+1 plan to leave the Swiss city in the morning regardless of the talks’ outcome, the diplomat said
* * *
And then inventories printed at a greater than expected 5.2mm barrels...
- *API SAID TO REPORT CRUDE SUPPLIES ROSE 5.2M BBL LAST WEEK
- *API SAID TO REPORT CUSHING STOCKPILES ROSE 2.6M BBL
The reaction so far...
Just as a reminder, this is the same idiocy we saw last week... a ramp on a huge build... but whatever...
And an update... for all those paying attention...
Charts: Bloomberg
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Sometimes, this just happens folks !
30 cents... if that’s all skynet can do, the terminator is about to be squashed by a racoon in heat...
Bakken sour crude down to $22/brl. Sweet crude at $33/brl.
How many of those shale companies are making money at those prices?
I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... www.nettrader2.com
Does anyon believe the machines "know" what they are doing? As in really, are they run by smart guys or dumb guys? Are they smarter or faster? Or are they just lamoks doing what all traders end up doing - losing.
Those machines and the people who run them all depend on oil. They're going to break the physical oil markets with their little paper games. They (the people who run the machines) are probably really smart in a very narrow field. I'd wager that a lot of them are super specialized and plain dumb as fuck outside of their fields.
...And their bosses are clinical psychopaths who couldn't care less so long as the spice flows.
Statistical programs can reveal patterns that are not obvious and often go against conventional wisdom.
Rise of the machines. Terminators are here.
A Month ago, I got a presentation about a computerized inbound sales system.
you know, you call to a company, some nitwit picks up the phone and ignores your complaint while trying to sell you some crap and if you want you can do a 10 second small talk with a louzy joke.
Now they automated it and it only costs you 150 a month and the electricity to run the computer.
And it’s still as bad as when people did it with the only difference that it works 24/7.
I do believe that the future means that one day you’ll have offices that run on 50 software employees but it won’t be all that better than it’s now. Just cheaper. The software is still written by people and as long as that’s the case, don’t expect to much intelligence.
so when you ask what they are doing, it’s all just the same as what the people used to do.
Why would a Wookiee, an 8-foot-tall Wookiee, want to live on Endor, with a bunch of 2-foot-tall Ewoks? That does not make sense. [/johnnie cochran defense]
Midget fetish, that's why.
Happy Bibi ?
And to think he was the GOP candidate for president; a man on the edge of insanity, shouting at the stars to shower bombs on Iran. The hubbub is all a media show and as much as anything, McCain is a media madman. The peace talk deadline was blown out of proportion by the world’s media as some sort of ironclad yes-or-no on an agreement, when it was nothing of the sort.
And the fact that the deals did not unravel at the deadline is easily proven when other meetings are now planned and scheduled.
McCain Suggests Israel "Go Rogue," Blow Up Iran Negotiations By Starting War
By Zaid Jilani / AlterNet
March 29, 2015
He made the suggestion during a floor speech.
As Iran talks appear to be coming to a close with a successful agreement that would both lead to the lifting of international sanctions and restrictions that would prevent the country from obtaining nuclear weapons, most in the international community are relieved.
Yet Republicans have teamed up with their counterparts in the Israeli political system to do everything they can to obstruct a deal – with tactics such as drafting new sanctions legislation and warning the Iranian leadership that the nuclear agreement will not outlast President Obama.
But this past week Senator John McCain (R-AZ) ratcheted up this sabotage to a new level. During a floor speech he gave on March 24th, the senator suggested that Israel “go rogue” and that if they don't they may not survive the next 22 months of the Obama presidency:
McCAIN: The Israelis will need to chart their own path of resistance. On the Iranian nuclear deal, they may have to go rogue. Let's hope their warnings have not been mere bluffs. Israel survived its first 19 years without meaningful U.S. patronage. For now, all it has to do is get through the next 22, admittedly long, months.
Recall that McCain is head of the Senate Armed Services Committee and a former Republican presidential candidate. His call for a foreign state to openly obstruct U.S. policy and in the process initiate a catastrophic regional war is perhaps unprecedented for someone of his senior position.
http://www.alternet.org/mccain-suggests-israel-go-rogue-blow-iran-negotiations-starting-war#.VRmKvrJ
I'm a Zion's little teapot
Short & stout
Here is my strings
Here is my spout
When I get all paid up
I just shout
Tip me over & pour propaganda out
I am a very special septic pot
It is true
Here is an example of my odoriferous doo
They can turn my strings into a spout
Tip me over & pour propaganda out...
The banksters need to repay us.
The why of their lies is where the truth lies.
I still haven't seen Tyler post one thing about this.
US daily avg production (Thousand barrels)
December 2014 Production: 9226
January 2015 Production: 9185
Rig counts don't matter, eh?
Rig counts don't matter if consumption is low and storage tanks are overflowing.
If there's no place to store the oil you may see rig counts fall even further.
No matter how hard you try, eventually, all things reach equilibrium or steady state.
Total consumption increased last year.
Fuck all people over 40.
...Depends who does the fucking. Wasn't someone talking earlier about "bleached milfs?"
ahhhh yes, the classic Bizarro World supply and demand equilibrium
The higher the supply the higher the price
Must.......get.......oil.......back......above......$80 USD........a barrel.
OK, repeat this mantra wise like you're constipated while sitting on the toilet trying to extrude a softball.
I'll just keep on shorting CLR on every pop it gets. Going to ride that one down to $20
There is a nuke deal of sorts
U.S. Russian MOX Nuclear Fuel Project to Continue Sen. Lindsey Graham Defends Project
ZH can do better journalism than this
, and Mickey Mouse can't.
So oil stumbled again today! https://www.youtube.com/watch?v=UrmhDkF0O24