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WTI Crude Continues To Soar As Oil Rig Count Decline Re-Accelerates
With production soaring by the most in almost 2 years, the rig count declines (or additions) appear to have become noise but following last week's single oil rig decline but this week's re-acceleration of declines is rather notable. Total rigs declined 10 to 875 and oil rigs declined 13 to 646 (the biggest weekly drop in a month). Crude prices had soared into the rig count data (despite the record production in Russia, OPEC's promise to keep production at highs, US production surging, and economic growth slumping) and kept going after.
*U.S. OIL RIG COUNT DOWN 13 TO 646, BAKER HUGHES SAYS
And Total Rigs decline 13...
Crude was ripped higher into the data and kept going...
Charts: Bloomberg
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Short squeeze won't last. Oil back to $35 by this fall.
But, but, oil in the $20's. Don't hold your breath. Too much Bankster money at stake and too many Regimes at stake to see oil much lower than the previous low.
Doubt oil is up $4.00 /bbl on one bar of rig decline.
This just in:
Texas Sen. Ted Cruz, a declared candidate seeking the GOP nomination for president, and New Jersey Gov. Chris Christie, who is widely expected to announce a White House bid, delivered blistering criticism of the Obama administration's policies in the Middle East at the Champions of Jewish Values awards gala in New York City.
Guess we know what special interest they will be supporting.
This shit is just rigged.
Expiration today in the June 15 heating oil and reformulated gasoline contracts.
It looks like some shorts are getting hammered today.
We'll see how the market acts next week. I still think it is heading lower from here.
Or is the fact that EIA has over stated supply systematically all year to the tune over well over 10MB..see cornerstone analytics for details as well as my articles
This guy!
EIA API Cushing etc are all in a conspiracy to bring oil prices down. Cushing is empty due to the booming economy. Gas line down the block like in the 1970's soon
Or maybe as per GS dope call oil doesnt have to fall into $40s to curtail production..LOL
Moar of this guy!
Or maybe as per GS dope call oil doesnt have to fall into $40s to curtail production..LOL
I'm glad you kept going brah. I couldn't be fucked, but right on!
Fuck goldman and douchers claiming algo weekly oil numbers mean shit.
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So, you set up a shitty Amazon affiliate site and this is part of your shitty link building plan. Thanks for the shit link.
And... still going. Shorts getting creamed. Only to get ticked off next week when oil plunges and they 'could have' made a nice profit. And so it goes... greed, fear, greed, fear, etc.
Soaring OIL is just a temporary correction before its continues its decline...
http://www.globaldeflationnews.com/oil-light-sweet-crudeelliott-wave-upd...
Short covering.