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Brent Crude Tumbles Below $50 For First Time Since Jan
Unequivocally good for someone, somewhere surely... Following WTI's drop to a $45 handle, Brent just broke below $50 (to $49.80 lows) for the first time since January...
Charts: Bloomberg
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http://www.wsj.com/articles/alpha-natural-resources-to-seek-chapter-11-1...
The ailing U.S. coal industry is about to get another black mark.
Alpha Natural Resources Inc. is expected to file for chapter 11 bankruptcy protection early Monday to cut its more than $3 billion debt load, according to people familiar with the matter, as a severe slump in coal prices continues to wreak havoc on the industry.
The Bristol, Va., company, one of the largest U.S. coal producers, hasn’t completed the terms of a restructuring plan but will likely sell some of its best mines or turn them over to creditors and close others during its trip through bankruptcy court, the people said.
ZH reported on that earlier.
Clearly not a dead cat bounce. How all the "pros" missed that is beyond me
Well, Obama said if you were in the coal business you could go bankrupt. He is at least a man of his word.
I just read the latest Yahoo lemming news that this year was the hottest year, ever, by a large margin! So, with all these government certified heat waves on top of a roaring hot economy...why are energy prices staying so low? With those AC's and factories running fulll blast it should be a banner year for Brent, Texas Sweet and coal. What's up with these contradictions?
Could it be that we are being lied to or is there just some big delay in the effects?
natural gas turbines are used during peaks, and natgas is cheaper than dirt these days...
All those warnings about oil tankers from Africa that couldn't find buyers and were sitting out at sea during May and June.....nobody would listen. Now reality hits them in the face like a ton of bricks.
Yeeeeehaaaaw!
Now I can afford more oil AND lower cargo prices.
If I only had a reason to.
Exactly, more propaganda on oil coming hard and fast.
Reduced hydrocarbons and an easily transportable form of consumable calories are necessary for a robust economy, period.
If only you had a "market" that allowed for true price discovery....
...and a robust economy...
If free money (QE) and ZIRP/NIRP has failed, it's time for a refund or retribution motherfuckers...
My belief is that it's not a robust economy, but a bust economy. China is going down hard along with most of Asia, Europe and South America. Global QE has created a glut in commodities and now the tide is going out and hundreds of millions of people will feel the pain for the next few years.
The inflated dollar has nothing to do with it, right?
in part, probably Iran too
aaaaand CNBC guys continue to talk about the fed raising rates.
at this point, id PAY 5.00% of my $$$ just to see what would happen to the price of oil if she raised .25 -.50% points over the course of 2 meetings. i simply don't see it. she'd set-off another round of commoditiy implosion which would set-off political unrest nobody would be able to contain.
The term "political unrest" implies that the politicians actually represent anyone in the real economy. FAIL, they haven't for quite a long time. "Unrest", sure, but that has nothing to do with those fucking puppets for the bankers/financiers.
fuck em.
while i don't disagree with your premise, call it what you will.
janet yellen fears venezula-effect-contagion.
Perhaps, but the supply lines to and in the U.S. are very different. You won't get the "venezula-effect" unless the supply lines break in earnest. Long ways to go yet.
How in the HELL is UVXY and VXX down 2% and more today?!!!
How is this happening? I'm so pissed!
When you place a bet (be honest, that's not "investing") you do so with a limited numbers of digits/money...
When The Fed places a bet they do so with an unlimted amount of digits/money.
Volatility is a game against the FED. Someday they pull thier giuns, somes they don't. Today, they try to follw ECB. it doesn't go well for them. They're going to loose at this game anyway, soon or later. but don't by TVIX or uvxy; Buy options instead.
Volatility is a game against the FED. Someday they pull thier giuns, somes they don't. Today, they try to follw ECB. it doesn't go well for them. They're going to loose at this game anyway, soon or later. but don't by TVIX or uvxy; Buy options instead.
Volatility is a game against the FED. Someday they pull thier giuns, somes they don't. Today, they try to follw ECB. it doesn't go well for them. They're going to loose at this game anyway, soon or later. but don't by TVIX or uvxy; Buy options instead.
The only good politician is the one whose head is already spiked on a pike!
The Fed really has created a miracle. Not only has the value of equities and home prices skyrocketed but commodities prices have dramatically fallen. High asset prices, low cost of borrowing and improving job market makes it seem like it's almost too good to be true!
I had a good time shorting the oil sector, BUT... the price now sits precisely on the resistance... tough call!
http://www.globalconstructionreview.com/news/china-decides-b8a6c8k-out-r... Hard to negotiate high prices when energy prices are dropping like this.Tyler, This should be an article at the top of ZH. This is a big deal as it seems the wheels on China are coming off the bus.
The Chinese don't need the oil so badly anymore now that their economy went into a sinkhole. Maybe the Russians can build the pipeline to India instead.
Everyone thinks that Saudi Arabia cutting oil exports is due to their wells running dry. Nope. It's due to less demand from Asia. Even at under $50 demand is collapsing.
BRICS is really making the west scared.
Forcing stupid US moves on the chess board.
I hope you all know this will not end well?
AGREE. I visited one of the BRIC countries recently. Their economy is down because China has slumped. BUT what it noticeable - there is still a ton of activity going on. Not just routine activity. New investment!!
The world is systematically bypassing America. It's happening daily, and the pace is picking up.
And you are absolutely right - all this SH*T WILL HIT THE FAN. Probably just about 18 months after the next President takes office. Because we're always so Darn Good at sweeping things under the rug when an election is coming up.
and zero conversion at the pump
Okay, since I posted this comment, I drove into town and it finally dropped .20. The lag is forever when oil goes down during the summer.
Agree!!
Crude has plunged to a price under $50 / BL. But meanwhile, gasoline is selling for almost $5/gallon at some service stations in Los Angeles. Think I'm joking??? NO I'M NOT !!
And we are supposed to believe that the energy companies are having problems with profits right now? Let me make an astute prediction. I bet that their incomes will go up!
FREE MARKETS and competitive pricing are DEAD in America.
It is a free market at $5/gal because you're free to move to some place that doesn't mandate special pollution-reducing blends. Do something about it instead of just screaming.
Crash and grab coming. Do you know where your teenager and life sustaining resources are?