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WTI Crude Tops $49.50 After Iran Talks Reportedly "Paused"

Submitted by Tyler Durden on 04/01/2015 11:59 -0400

Crude oil prices continue to push higher. Following the earlier drop in US crude production this week and PEMEX oil rig fire, we now have more substantive headlines from Switzerland:

*IRAN TAKES PAUSE IN TALKS, NO DOCUMENT SEEN TODAY: TASS
*TASS CITES UNIDENTIFIED EUROPEAN DIPLOMAT ON IRAN TALKS

Of course, one wonders who really wants a deal now... with over-supply already a problem, any sanctions-lifting would boomerang back to US Shale firms and further destabilize the illusion of recovery in America.

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Wed, 04/01/2015 - 12:01 | 5948842 Dr. Engali

Lehman did it.

Wed, 04/01/2015 - 12:07 | 5948866 pods

From this point on, any move in any metric will be quantified using the Lehman Unit.

1 Lehman=the percentage drop in any known quantifier during the Lehman event.
But since most events today are not as bad as Lehman events, the more widely used MilliLehman is used instead, where 1 Lehman=1000 MilliLehmans.

If the FED starts up QE again, the little used micro Lehman, µL, will come back into favor.

pods

Wed, 04/01/2015 - 12:10 | 5948877 max2205

Nice Good to see the NY Fed has a Start Fire button now added next to the Buy Spy button

Wed, 04/01/2015 - 12:46 | 5949004 Pinto Currency

If this is the plan to sucker the world before attacking Iran, then everything looks on track:

http://landdestroyer.blogspot.co.uk/2015/03/obama-netanyahu-fallout-is-theater.html

Wed, 04/01/2015 - 12:09 | 5948875 RockRiver

But wait! I thought it was because production dropped???

Wed, 04/01/2015 - 12:58 | 5949065 KnuckleDragger-X

Brent is the price that the rest of the world pays but its narrowing the split with WTI. If they were really worried about Iran, Brent would be rising faster. Manipulate much?

Wed, 04/01/2015 - 12:01 | 5948843 El Vaquero

This person that you keep on referring to as Mr Crude Oil seems to be schizophrenic, Tyler.

Wed, 04/01/2015 - 12:45 | 5948998 aVileRat

Mr Crude is more like Dan from Trading Spaces.

Wed, 04/01/2015 - 12:05 | 5948855 Thirst Mutilator

Loose (lips) - efarians...

Wed, 04/01/2015 - 12:11 | 5948884 kowalli

oil paper prices is a casino

Wed, 04/01/2015 - 12:34 | 5948951 highwaytoserfdom

KKR betray us Petraeus and the rest of the CFR war criminals losing the battle for hedgemony.. All Germany has to do is let VW sell there 300mpg cars..

Wed, 04/01/2015 - 13:28 | 5949205 Batukhan

I don't get anything about the oil price action linkage to the news except that it goes up in a nice little perfectly tradable spike and channel. And I only hope it will go down the same perfectly tradable way.

Wed, 04/01/2015 - 17:35 | 5950265 ted41776

it be glubul werming yo

Wed, 04/01/2015 - 20:10 | 5950787 thecrud

I have another name for pause Fail.

WTI Crude Tops $49.50 After Iran Talks Reportedly "Paused"

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