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WTI Crude Surges Above $59 - Highest In Almost 5 Months

Submitted by Tyler Durden on 04/29/2015 12:56 -0400

The initial euphoria over a small Cushing draw has not stopped as the machines have run WTI crude up over $59, tagging all YTD stops and pushing the front-month to its highest since December 12th.

DOE data sparked the momo run...

Which has dragged it up to Dec 12th highs...

Which has seen the curve crushed...

and it seems today Trannies do not like high oil prices (for now)...

That should really help consumption in Q2..."unequiovocally good"

Charts: Bloomberg

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Wed, 04/29/2015 - 12:58 | 6043217 This is it

Damn the pump prices! Fark u all!

Wed, 04/29/2015 - 13:28 | 6043329 winchester

i announced it in 2014....

for may 2k15 go back 60+ just to keep oil industry afloat...

Wed, 04/29/2015 - 19:08 | 6044837 Laowei Gweilo

but... but.. but... the Zero Hedge message said $20!

surely the doomsday bears here cannot be wrong yet again :O

Wed, 04/29/2015 - 14:06 | 6043456 j0nx

I could tell. The prices on gas went up 12c today already. Funny how Habib is on that ladder in 5 minutes when oil raises but takes him a week to get back on it when it falls...

Wed, 04/29/2015 - 23:40 | 6045783 legend247

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Wed, 04/29/2015 - 12:58 | 6043218 LawsofPhysics

just to be clear,the price in dollars for paper oil went up...

now where have I seen this before?

Wed, 04/29/2015 - 13:01 | 6043224 KnuckleDragger-X

Tsk, I bet you don't believe in fairies and unicorns either........

Wed, 04/29/2015 - 13:17 | 6043284 El Vaquero

Oil will either be too expensive for consumers to consume, or it will be too cheap for producers to produce. Or some unhappy medium where both are fucked. We need to change the way our supply chains work, but thanks to the cronyism in DC, it's not going to happen until there is no choice in the matter, as dictated by nature.

Wed, 04/29/2015 - 13:28 | 6043324 KnuckleDragger-X

In and of itself, the supply chain works well. Our problem is the people who are bending up the market to maximise the pay off.....

Wed, 04/29/2015 - 13:36 | 6043354 LawsofPhysics

Yes, unless paper-pushing middlemen want moar!!!

fuck em.

Wed, 04/29/2015 - 13:40 | 6043374 El Vaquero

The supply chains work well today. Screw with the oil supplys and you'll see a true one off situation there. It won't be pretty either.

Wed, 04/29/2015 - 13:04 | 6043234 Monetas

Recent price collapse of crude oil .... was like a tax cut .... but, it was paid for by the private sector .... not the cheap skate Socialist spenders !

Wed, 04/29/2015 - 13:04 | 6043235 Jumbotron