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Crude Carnage Continues - WTI Hits $55 Handle, Brent Tests $60
Trading at its lowest since early April, WTI Crude has re-tumbled again today to a $55 handle as Greferendum deleveraging and Iran chatter send futures down 2.5%... Brent crude neared a break below the crucial $60 level in early trading.
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Time for a new 4th of July holiday Golden Jackass interview on TFMR
Turd and the Jackass for 1.5 hours...what could possibly go wrong? haha :-)
It's on the house, so if ya wanna kill some time and hear Jim Willie's thoughts on the geo-political and economic collapse underway as we speak, here's the link:
http://www.tfmetalsreport.com/podcast/6968/jackass-our-own-yankee-doodle-dandy
Enjoy this 4th of July, folks. Think about what it means and what it stands for. The future of freedom not just in America but the rest of the world hasn't been in this much jeopardy since WWII. The new threats to freedom and liberty are hitting us from all angles. Get prepared. By this time next year the scumbags in charge will be banning the 4th of July just as they're banning everything else and driving us into another world war situation.
Round here diesel and gas are just about the same price.
The story of crude is simply one of malinvestment. To know where crude is going you need to know how we got here by doing a proper root cause analysis.
And diesel has so much more energy density than gas.
If I had the money to burn, I'd by a hybrid, but only if it were diesel/electric, like rail locomotives.
Gartman will be going long shortly, that will be your sell signal.
Well fuck me with a broom handle if that doesn't make me want to sit in traffic all weekend and be strip searched by pedofiles in blue uniforms at the local transportation hub.
Interesting story about the lines at the Tesla Supedharger Stations as folks wait to fuel up on "free...
So it's kinda like the Gillette razor scam, but on steroids?
Actually, it's more like the apple business model: pay lots now and continue to pay more later
I'm buying the full oil barrels at $55 a pop,dumping out the oil,and selling the empty barrels on Ebay for $60 apiece,for a "sweet" 10% profit..
It's going as expected. SCO long here baby. Print me some money this coming week! I need some more pm's for my next boating accident.
And gas was $3.10 this morning.
Pump prices in Houston holding at 2.50 for months now.
just spent Euro89 to fill up a little BMW diesel in Bergamo. $60/bbl my ass these eurogougers
I'm not worried. It's probably going down to near $40 so hold on.
Houston’s oil slump: It’s worse than we thoughthttp://www.bizjournals.com/houston/print-edition/2015/07/03/houston-s-oi...
and this:
http://media.bizj.us/view/img/6371882/houston-pmi-economic-indicator*xx.png
after july 4th, seasonal weakness kicks in. some people sold ahead of the future selling.
Following XOI.X as a proxy, I expect a low in the October 2015 time frame.
More profits for the refiners ,consumers get shafted instead of the discount.Integrated oil companies will make as much money as before oil crash.
Last year the great oil collapse began in July. The first day of July this year oil crashed 4.5%. On the second day of July, oil was green by almost 1% and then did a sharp reversal to end red. On the third day of July the markets in the US were closed but oil still traded and was down 2.5%. Short shale at will. OAS, CLR, WLL.