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WTI Crude Clubbed To 4-Month Lows, Tests $48 Handle
As the NYMEX close approached, front-month WTI Crude futures slumped towards a $48 handle - the lowest since early March, having firmly rejected the algo-driven rip after this morning's inventory build and tiny production cut...
Charts: Bloomberg
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Not enough. There's still $48 to go.
I just want to see $30's. Make our news alot more interesting than this Greece bullshit.
All of that Iranian oil...
Take that Saudia Arabia! Can the new king handle $40 oil? A frenemy to the end.
I think there'll be one and maybe two bounces to the mid-fifties before we slide into the low forties and after that your guess is as good as mine.....
QE4 to the rescue!
Notice how the price of gasoline hasn't collapsed?
Yep, it's as if the "market" price and pump price are divergent lol.
Do you think Gasbuddy.com keeps those stats? It would make for a great chart.
$15 oil, $10 gold, $1 silver and still see $7 dozen of eggs and $40 55" TEEVees. It's just a shift left is all. Cash will be king...until it isn't.
They need money for buybacks. How else will the markets look amazing everyday.
In a strange turn of events,Corporate Executives from Amerika's top 10 fracking companies (FRAK),have been spotted siphoning gasoline from parked cars,since 1 years total company profits,is no longer enough to buy even 1 tank of gasoline for their Limo...
Again 4MB build was tied to 8% surge in imports and 2.5MB tied to EIA "adjustments"...keep posting without doing any home work...people need to start doing real work.....who thinks a 8% surge in imports out of no where is sustainable...yet u see comments here with little research behind them
So the 2.5MB build adjusted for these was actually a HUGE draw...but whos counting.....as prd is flat
it's also the busiest driving season of the year ----
Should we buy gold Tyler as that crashes and you argue its being rigged?
yes; as a part of a well diversified portfolio which includes water, food, firearms, and a bit o cash (just for fun)
Don't forget a still, you will need the means to make alcohol for medical, recreational and trade purposes.
Why the fuck haven't gas prices come down yet!?!?
Referring to the southern California Great Gas Price Rise of July, 2015:
First they said it was due to the shortage of additives used to blend the summer mixture mandated by the smog rules. This meteoric price rise was to start going back down by the next weekend.
Now they are saying that it is due to the fire at the Wilmington refinery and that the gas prices will remain high through the end of the year.
I find it very interesting that none of the talking heads didn't point out the impending additive shortage in advance and are now parroting the oil company line.
Oh and the Gas Buddy petition for signatures to get Governor Brown to grant a waiver to the smog rules has not resulted in any action by him to ease the rules and defuse these price hikes.
So while the rest of you will see more price relief at the pump as crude drops more and more, we will keep getting screwed out here.