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WTI Crude Tumbles To $48 Handle, Energy Stocks At Dec 2012 Lows
WTI gave up earlier gains and is tumbling once again to 4-month lows, back into the $48 handle range... S&P Energy stocks are now back at Dec 2012 levels.
Smashing stocks back to Dec 2012 lows...
As Fwd P/Es collapse back to reality...
Charts: bloomberg
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Hmmm ok.
Heres some more mystery. Over on www.netdania.com ...i see a live spike higher than any volume bar in the last 5 years...and now it wont show volume on the charts there.
Somthings up..i think they just stopped a crash in WTI....
Somone take a look.
RIPS
Looking at my data on 1 minute and I do not see anything out of the ordinary. That websites data feed might be one of those shitty ones forex brokers use.
Better safe than sorry.
RIPS
Gartman is out on CNBC again! He's simultaneously buying/selling in bullshit terms. He "knows" what central banks around the worlds are going to do. I think he quoted ZH and said "bad breadth" is the "new term" for fucks sake.
Can we get to 47.09. Thats about the last time Goldman came out and stated prices can go lower and we had lift off. Maybe they make another comment for another slaughter.
Drill baby ! Drill !
Recovery summer is going well but "free-for-all" fall will be extra exciting this year.....
Maybe the trade here is to invest in the makers of chain mail gloves. There's a high demand from people catching falling knives.
This only works on market indicies.
Gas price in Venezuela is 6 cents a gallon. We may get there yet.
http://www.globalpetrolprices.com/gasoline_prices/
You sir, are a true optimist.
In return they have no food or toilet paper. I guess the lack of TP isn't an issue since you don't shit if you don't eat
Sure are alot of balls in the air...the jugglers have to be getting tired....
I never grow tired of juggling my balls.
Neither do I. But let''s be honest. Nobody wants to watch that.
While gold is at five year lows and headed lower ZH gloats over falling oil. GOR is 12 to 1 historically, keep cheering, gold to $500. In the meantime, gold miners are all bankrupt enterprises.
YAYYYYYYYYYYYYY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
My two newest oil wells, drilled by BHP in the Wolfcamp, produced a combined 35,000 bbl of oil in May and 100,000mcf gas. YAYYYYYYYYYYYYYYYYYYYYYYYYYYYY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
LOL!!!! just a crumb in the game. And you are selling it for canon printer paper. $100 an acre I will give you. Come end of September offer changes for less.
Not to mention that they'll probably produce somewhere around 14k or 15k barrels next May. Unless they're vertical wells, in which case they're an anomaly or aren't in shale formations.
He won't tell you that.
Gold now red on the day and dropping hard............................
I will tell you that.
Good it will be cheaper when the moron selling gold to me accepts printer paper. You see how that works. If I buy your oil for printer paper I can assure you I will laugh my ass off at your stupidity. You definitely inherited your property because you have no idea about value.
Why do you have printer paper with which to buy gold? Seems you are so smart you wouldn't have any use for printer paper. But apparently it's how you get paid and pay for everything you really need.
When less intelligent people accept printer paper for valuable assets, I will gladly give them pieces of green paper for say something like gold or your 5 quarts of oil you have stored on your property in a garage.
See, you think you are rich because of your bank account. Do you see how this mentality could hurt an asset like oil? If you value all your assets in us dollars, what would you see in its value if the dollar did not exist tomorrow? I told you I would not give up on ya.
Vertical wells are lucky to produce 1/10th of that. Never owned a vertical well that produced more than 100 bbl/day. But 7-8kbbl/mo is still 250bbl/day and no, these wells should still be over 10kbbl/day next year. The decline rate isn't near what has been claimed on this site. As usual, the disinformation is more accepted on this site than reality.
Good. I hope you double the production. More oil means cheaper oil for the rest of us
From your lips to God's ears, can you hear the beeping sound? It's a big assed truck backing up, stand aside please.
Not rooting for bankrupt miners, just bargain prices on PM's.
I think the point was more price dives across all commodities. Sort of the classic precursor to a recession (or worse). But as to Oil...since it has far reaching economic impact (see CATs recent earnings report)...shows a rather large global problem.
If you have physical oil, then you can do and make real shit. You can sustain a real economy. Who cares about paper oil?
I see no discount at the fucking pump
Tick tock mother fuckers...
We'll all be burning paper oil this winter to keep warm.
well, burning something anyway, lots of things burn (oxidize) and release energy. going the other direction (i.e. reduction of oxidized carbon to reduced hydrocarbons) however, requires energy input. All fine and good until you run out of other people's stuff to burn...
tick tock motherfuckers...
I know how to cook using wood fire. I learned it because I like camping, where I figured out that a steak or a burger is better over a wood fire when you get it right. Break down society enough, and see how protective I become over my sources of wood to burn.
Unfortunatey, there is a big discount at the well head and it's real. The surplus here in the US is entirely due to dumping.
Big discount? LOL! Talking about "prices" in the absence of true price discovery is a fool's errand.
Odd that the discount hasn't made it's way to the pump...
Profits from my paper oil investing quickly get converted to real assets, but that's just me...
Hmm, I am paying a lot less for gasoline this summer than last. If you are in California, there is a different problem there, too bad, so sad.
Dude LOP will eat you alive and your tiny bank account. I told you before there are real wolves on this forum that could devour your soul if they desire.
Discount...lol. That asshole ought to go to Canada where gas is still closer to $5 a gallon. Down a tiny bit from all time highs when oil was $110 a barrel.
Canadian dollar has been creamed too. Down to ten year lows against the USD. Double whammy.
Bay, I am trying to show him they way to enlightenment. He will not listen to anyone. He wants to bash gold knowing ZH is a gold stacker website then feels people should listen to him.
LOL! I probably have more gold than you but no matter. Enlightenment is far from you.
You sure do sweetheart. Enlightenment is far from me too. Teach me instead of being a government troll useless eater.
When do the ships full of stored oil give in to the low prices and deliver. That will put the price in a tail spin however the ones that ""git thar fustest with the mostest," will get the best price leaving the others to suffer miserably.
LOL! don't hold your breath. You assume that the current market reflect true price discovery, it does not!
The true price of oil for deliver could be $1,000 per barrel as easily as it could be $1 per barrel, that's the fucking point.
Exactly
That is the point. Which is why people who own oil wells accepting dollars are the biggest fools in the world. Explain to me how taking a piece of paper for oil is fair market value? They don't get it and will be begging for food one day.
Very few question where fiat gets its value. Yet they toil their lives away for fiat. It ain't just oil producers who are fools.
Oh I agree there is a lot of fools. I just don't get why people sell something so valuable for a piece of paper backed by nothing,0,zilch.
I can think of good reasons to sell something valuable for paper, but they all begin with "other people accept it" and end with buying something else of value.
How many go and buy worthless shit that will have no value ever. My whole point to those folks are oil is valuable so get something that can at least appreciate in value for your oil. The ruling class has done exactly this for a very long time. They made this illusion that paper currency backed by nothing is accepted and they use this magic paper to buy real assets. Once purchased they keep them and throw scraps to the rest. it is how they truly stay in power. They own it all.
But you work for it or maybe not since you seem to be posting a lot on here during the work hours. What do you use to pay your bills? If you have a job and you take money then you are in the same class as those you are criticizing and calling fools.
I short oil then buy your property for pennies on the dollar. I did not inherit property like you did since it is evident you are a spoiled brat,
You short oil? LOL! That is a paper trade, I am selling oil too but it's the real thing. Yes indeed, I did inherit my oil properties and I am not ashamed of it. It's actually some good luck in my life. However, since I have no debts, I am not sure how you would buy my property for pennies on the dollar. My actual basis is about $5/acre.
I did. Hell yeah it is a paper trade. I convert the profit to assets I find value in. Do you magically think you are the only one with no debts. Hell they got a member on this site named just that.
On a side note: I still care WSR1 and will not give up on you. xxxoooooxxxoooo
How's gold doing lately? Been able to fill your car with gas or cool your home with it? How about buying smoe groceries with it? Get paid in gold? Didn't think so.
People do get gold as payment. How did you even find zerohedge with your lack of intelligence?
Really, who? The last guy that tried that got whipped hard by the IRS. Now here is one for you and something I am sure you aren't aware of. I can take my oil royalty payment in kind but I choose not to because I have no where to store it.
Why would I say that. You are a government troll.
I will wear that as a badge of honor.....
You know you have won when you get called a govt troll. LOLOLOLOLOL!!!!!!!!!!!!!!!!!!!!!
And should I call you a paranoid loon?
Oh yeah I am paranoid. What was that I just heard. Be right back
Thats the problem...getting cleared to unload at a refinery isnt that easy.
Are you finding that there's just too much "BIG FAIL" to fit on your balance sheet yellen???
LMFAO - have fun yellen you fucking POS asshole!!!
I think I'll move to Venezuela and buy a big monster truck and maybe a land yacht and a motorhome and just drive around the place. And don't forget all the gloating and pictures on Twitter and Instagram and Facebook to display my irrational exuberance to all my USA friends.