This page has been archived and commenting is disabled.

WTI Crude Clubbed To 4-Month Lows, Tests $48 Handle

Tyler Durden's picture




 

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

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 07/22/2015 - 14:37 | 6342176 This is it
This is it's picture

Not enough. There's still $48 to go.

Wed, 07/22/2015 - 14:40 | 6342192 saints51
saints51's picture

I just want to see $30's. Make our news alot more interesting than this Greece bullshit.

Wed, 07/22/2015 - 14:44 | 6342211 Luckhasit
Luckhasit's picture

All of that Iranian oil...

Take that Saudia Arabia! Can the new king handle $40 oil? A frenemy to the end.

Wed, 07/22/2015 - 14:45 | 6342213 KnuckleDragger-X
KnuckleDragger-X's picture

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.....

Wed, 07/22/2015 - 14:49 | 6342228 Edward Morbius
Edward Morbius's picture

QE4 to the rescue!

Wed, 07/22/2015 - 14:50 | 6342233 asteroids
asteroids's picture

Notice how the price of gasoline hasn't collapsed?

Wed, 07/22/2015 - 14:58 | 6342267 Burnbright
Burnbright's picture

Yep, it's as if the "market" price and pump price are divergent lol.

Wed, 07/22/2015 - 15:21 | 6342362 froze25
froze25's picture

Do you think Gasbuddy.com keeps those stats?  It would make for a great chart.

Wed, 07/22/2015 - 14:51 | 6342234 Caveman93
Caveman93's picture

$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.

Wed, 07/22/2015 - 14:59 | 6342278 saints51
saints51's picture

They need money for buybacks. How else will the markets look amazing everyday.

Wed, 07/22/2015 - 14:55 | 6342247 henry chucho
henry chucho's picture

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...

Wed, 07/22/2015 - 15:08 | 6342312 lbrecken
lbrecken's picture

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

Wed, 07/22/2015 - 15:09 | 6342317 lbrecken
lbrecken's picture

So the 2.5MB build adjusted for these was actually a HUGE draw...but whos counting.....as prd is flat

Wed, 07/22/2015 - 15:33 | 6342425 Dethrone The Ba...
Dethrone The Banksters's picture

it's also the busiest driving season of the year ---- 

Wed, 07/22/2015 - 15:11 | 6342329 lbrecken
lbrecken's picture

Should we buy gold Tyler as that crashes and you argue its being rigged?

Wed, 07/22/2015 - 15:34 | 6342428 Dethrone The Ba...
Dethrone The Banksters's picture

yes; as a part of a well diversified portfolio which includes water, food, firearms, and a bit o cash (just for fun)

Wed, 07/22/2015 - 15:47 | 6342468 froze25
froze25's picture

Don't forget a still, you will need the means to make alcohol for medical, recreational and trade purposes.

Wed, 07/22/2015 - 16:11 | 6342566 gearbaby
gearbaby's picture

Why the fuck haven't gas prices come down yet!?!?

Wed, 07/22/2015 - 21:35 | 6343743 morongobill
morongobill's picture

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.

Do NOT follow this link or you will be banned from the site!