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WTI Crude Tumbles Below $50 - 3 Month Lows
But the recovery... demand... growth... front-month WTI Crude just broke beloe $50 for the first time since April...
What's driving the weakness?
"unequivocally good" right?
Charts: Bloomberg
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Did someone sell $2.7 billion worth in a nanosecond?
that's a lot of chinese housewives
If you are a commodity trader of Indian heritage in London, I'd watch my back. Scapegoating in 3...2...
Iran deal is a positive for the economy. Lower oil benefits all.
It's not gonna help them high yield energy bond bag holders much!
$80 oil by fall because everyone needs and uses it LMAO!!!
please, please, please raise interest rates mrs. yellen. i just want to see what happens. from 0 to 0.25% she'll give the middle class what they desperately need: DEFLATION. gold tanking, oil on the cusp of getting donkey-punched, U.S. Dollar would go thru the roof, she'll snap commodities, and it would be a matter of time before it trickles thru to stocks. and if she ever had the balls to take them up 100-200 bps, id love to see (hear) the screams of people openning their bond portfolio statements and say "wait, what? i thought it was unpossible to lose on 'safe bonds' principal amount."
And $25 for a good bottle of scotch too damn it!
Long-term Treasurys would be the place to be in such a scenario (long-term bonds are a leveraged bet on deflation). The yield on the 30Y would likely drop about a 100 bps, resulting in a 20% gain.
Snap commodities as opposed to what? Bullshit. Buy the news.
Here comes 40. What will alll the whores do in North Dakota?
The North Dakota story is punctuated by sky high housing as workers have their hours reduced or are pink slipped. Hedges have run out and given the cost of transporting the oil- take 10 dollars off the wti price, it is very clear that the junk bond market is on the verge BLOWING THE FUCK UP.
Why they'll work for Ashley Madison of course!
Who are the banks that made all the oil and RE loans up there? I need to short them to ZERO
@ Sun:
Hope this is of help:
http://dealbook.nytimes.com/2015/01/11/as-oil-prices-fall-banks-serving-...
The oil G_d in CT says that the "absolute floor" is $40.
bitchez will go back to texas
Never forget, "payback" in large-scale foreign affairs is a serious, active force.
Iran Deal = payback to KSA for 9-11; payback to Russia (low oil prices) for Georgia (Lehman Bros) & Ukraine; payback to Israel for not sharing intell on 9-11
Eisenhower waited 6 yrs to payback the UK for transferring jet engine tech to the Russians in 1947; his payback (i.e. Suez Crisis)....cratered the pound sterling. It was the 'end of empire'.
Re: payback to Israel for not sharing intell on 9-11
Ex-Italian President: Intel Agencies Know 9/11 An Inside Job
Man who blew the whistle on Gladio tells Italy's largest newspaper attacks were run by CIA, MossadFormer Italian President and the man who revealed the existence of Operation Gladio, Francesco Cossiga, has gone public on 9/11, telling Italy’s most respected newspaper that the attacks were run by the CIA and Mossad and that this was common knowledge amongst global intelligence agencies.
http://www.globalresearch.ca/ex-italian-president-intel-agencies-know-9-...
Fortunately both the Easter Bunny and Santa Claus have managed to keep their roles in the event from becoming public knowledge.
Seriously though, does it even matter anymore? They did. They didn't. They can do whatever they want now because the global masses are too confused or too deeply asleep to do anything about it.
Barring a revolution, it's not like you can vote for anyone that would actually change anything. All politicians are now simply two sides of the same coin,
Nothing will change. NOTHING. Until the sheep wake up and trample the current regimes under the weight of their indignation.
Oh look...the Kardashians are on the cover of people magazine!
What were we talking about?
exactly so let's get out there and wake these sheeple; or at least, plant the seeds so that some of them will blame the Banksters for the coming crisis instead of --- well --- ppl like you and me (and China/Russia boogeymen/etc.)
Starting a global war on two fronts would boost the economy. Let's get to it.
Long Geiger counter makers.
!
Everything is getting cheaper. It's time to raise the standard of my EBT.
And Gas is now $4/gallon here in So cal. It all makes sense!
Greatest recovery ever!
Lobotomized, cheerleading status quo huggers will never acknowledge that the Cabal/PPT has ALREADY been all hands on deck for the last couple months to create countertrend rallies in crude and EUR/USD - both appear to be over. So who's left to step in front of this commod cascade with a rate hike teed up for early fall other than Cramer/Gartman/chinese housewife clowns?
So, the June print of an all-time high in miles driven means . . . .
Once we squeeze all we can out of the United States, it can dry up and blow away.” — Israeli Prime Minister Benjamin Netanyahu, 2002
$10, the price is still on it's way to target.
Oil at $50 means gold at $600 just keep cheering. Oil at $20 means gold at $250..........................
I think you drank too much oil. Youre not making sense.
No matter what oil does ( I think its going low 30s) gold will not follow past 900. Doesnt matter ill buy it if gold and silver go to 0$
Have fun with your paper.
RIPS
When oil was last $10, gold was at $250 and that was way too expensive. Fortunately for gold, oil rose rather quickly off those lows but it took gold a long time to break $400. If oil goes to $30, gold will be at $500. The historic average for the GOR is about 12 so expect more gold carnage if oil can't stay above $50. The Saudis are going to be dumping gold next with oil prices this low. They have a lot of expenses to cover and if oil revenues can't do it, they have to liquidate assets. Have fun with your useless gold.
70 during northern hemisphere summer, then 30..
AS someone mentioned, the low oil price is not equivalent to how much gasoline costs at the pump.. Its not a huge amount off, but its still substantial...
Here is an interesting map of the U.S. showing how much states pay for gasoline that is easy to view in just a few seconds. Its kinda weird how gas prices are so different in different states. I know taxes have a bit to do with it, but not that much.
http://www.gasbuddy.com/GasPriceMap
p.s. everyday, as I see the crazy things going on, stocks thru the roof, gold slammed, media saying economy is great etc. I truly feel more everyday that things are going to crash in the not too distant future. And keep in mind everyone, this presidential election thing is a matrix of none reality whatsoever...I dont bother even commenting or supporting anyone. Trump would probably be used to give killary the presidency etc. Its all a matrix. Get your own life and start becoming as self sufficient as you can, get right with Jesus...that is reality.
Folks, there is some bad shit happening in the oil patch right now I am here to tell you. Pink slips in the Middle East, in the USA, everywhere (but Russia!).
THIS IS GOING TO BE YOUR DADDY'S OIL DOWNTURN FROM THE 1980s! Remember that joke back then, what's the quickest way to find a petroleum geologist? Yell, "Hey, Taxi!"
2-3 years at least of low oil price. As an oil field guy I am planning on taking the next few years to focus on writing, sailing, political activism and being a landlord for the next 2-3 years.
OAS to ZERO!!
California Gas soon to reach $5/gal anyway because of some bullshit reason.