This page has been archived and commenting is disabled.
WTI Crude Crashes To $45 Handle - Lowest Since March
Spending and Income data appears to have been the trigger sending WTI and Brent crude prices dramatically lower. WTI has now broken to a $45 handle, its lowest since mid-March..
WTI $45 handle...
Copper is also joining the party...
Charts: Bloomberg
»
- 2288 reads
- Printer-friendly version
- Send to friend
- advertisements -
If you have possession of reduced hydrocarbons like oil, then you can do and make real shit, period. This has great intrinsic value so wake me when it "crashes" to zero...
be optimistic, just think of all the "free" gold and oil and oil the future...
The worlds population is higher than ever and continues to grow at a fair clip... yet we have a huge glut of commodities and resources.
We have relatively high unemployment / weak labour participation... and living standards are static or falling.
The world has all the resources and labour it needs for a huge economic expansion, yet the expansion is nowhere to be seen.
What gives?
ZIRP has killed capital investment, and will be recorded as the most expensive experiment/misadventure since WWII.
"Expansion" in what, exactly?
I don't think you understand how much energy and resources are required to simply maintain the status quo, nor do you understand the amount of energy required to keep those essential biological cycles turning (sulfur cycle, carbon cycle, nitrogen cycle, etc.) and life, at least as we know it.
Sure, the planet will be fine, so I agree with general sentiment.
Evolve or fucking die already. ZIRP (and the bankers/financiers that benefit) simply won't die...
$45 crude.
Road trip!
Don't come to California. gasoline is $4.15 /gal.
All the wealth has been hoovered up into the hands of a tiny group of people. If the world experienced a huge expansion, where would it expand to? To another planet? We are already at certain limits of expansion. We have peak population, peak pollution, peak overabundance of productive capacity. Most people live on a few dollars a day. Their entire lives are made of misery. Yet they keep having big families. Lots of babies. When this ends I fear is in the hands of thos few who have hoovered all the real wealth and the few cronies they pay to support them. Self interest rules the planet now. There are no real leaders anymore because if there were there would be revolution by daybreak tomorrow.
Yet prices are not down accordingly....
Meanwhile the price of a silver quarter is $2.65
So, less than $.25 gas in pre 1965 prices..
The last I checked, $45 oil and $2.29 gas isn't free
Just filled up 15 minutes ago. Nope, still no drop at the pump. We are being robbed !!!
Must be FIFO vs LIFO today.
Hey! The negatives are showing up! Should they raise the price of gas another couple of dollars? Maybe an irate stockholder?
For real! The last time it was in the $40/barrel range, our gas was sub $2. Still $2.69 here
Getting fucked big time in Ca - still $3.59.
Ya I've been saying the same thing. Glad I'm not the only one. 2.38 in central florida, last time oil was this low it was 25 cents a gallon less at the pump.
44, if you're still in CA, I'm sorry to be a dick, but you deserve everything you get by staying there. Vote with your feet already.
Two factors people keep forgetting:
1. distillates and gasoline can still be exported, while crude oil cannot
2. summer blend costs more money than winter blend, courtesy of the EPA
Wait until after Sept 15 for cheaper winter blend
Bingo, yes supposedly "oil is down"...
Odd that the products of oil are NOT...
Governments are broke, and getting broker...
In fact I was pulled over the other day, for apparently no reason. The officer stuttered and then quickly said "you are driving alone in the express lane"...
I pointed to my express pass and he simply said "oh" and walked back to his car. No apology or anything. The fuckers are getting desperate, fuck em. And by "fuck em" I mean fire all the chiefs, we need more indians anyway.
They've been broke quite a while...waiting for them to finally break.
Plenty of things left to steal...
I have several "educated" friends who never challenge their phone bill or bank charges or charges on their electricity bill or credit card statement, let alone challenge an officer's judgement...
Please, fucking sheep...
Next you will tell me they pay late fees and NSF charges too.
Baa Baaa!
The reason they manipulate the price of oil downward is so the Sheeples have some more cash to spend, so the ponzi keeps going on at the expence of oil producers. But it seems not to have an effect.
When a nation 1/3rd is on EBT it won't make a difference, they are not generating anything .
Prices are actually going up here in IA, ethanol blend of course is still low....in fact it's now 40 cents lower a gallon.
Fuck em. I refuse to burn corn in my tank, I don't give a flying crap if I go broke using the regular 87 version, I will not support the corn industry when I fill up my tank, assholes.
Anyone seen any good deals on oil tankers on Craigs list? Thinking a kind of Waterworld.
Independently of the reason of the fall in oil price ( natural or not), we should not expect Putin/Russia to stay idle while its economy is getting crushed. What are his options? One of them is more turmoil in the Middle East.
Sorry, USSA has cornered the market on creating turmoil in the ME...
More turmoil in the middle east from WHERE? Why would Putin want more turmoil if they are under economic stress? US debt to GDP: 108%. Russia debt to GDP: 17%. It would seem to me all Russia wants to do is sit on a little boat at a distance and watch the Titanic sink. The US is the one that hit the iceberg, not Russia.
http://www.bizjournals.com/houston/news/2015/07/31/exxon-mobil-revenue-p...
" Yes we can! "
And by dramatically lower, we mean 40 cents.
or, about 1%
1% per day for 15 days and we're at a 3 handle
One strike by Israel on Iran's nuclear facilities and oil goes to $120 a barrel overnight. Then to $200 if the Strait of Hormuz is shut down.
Could happen.
Israel can't strike without a green light from the U.S., and, were that to happen, both Kim Kardashian and Dennis Rodman would be pissed. Also, the lion-killer might be spared.
So really, given those profound complications, how likely is it?
And don't forget his faggot crusade.
What do you think that could spell, Disaster is what,
Imagine all those faggots turning up at the army recruitment offices with their call papers wearing fucking frocks high heels and bras with their wedding tackle turned inside out.
Fucking Kenyan faggot won't be so high on their list of favorite shit stabbers then, will he
One fire at a Torance , Ca refinery and gas stays over $3 in MoonBeam land, while oil trades at its lowest.
Then demand would quickly collapse as the vast majority of people and businesses could not afford $10 gas with the higher healthcare costs, housing, food etc.
US plans economic strategy months in advance with its big banks. Then all US economic data is manipulated to match those ends.
Now big banks are short commodities and oil. All US economic data will support a stronger dollar including Fed doublespeak and Hilsenrath will keep the probability of a rate hike alive in September
Forward – to more fraud and manipulation.
LOL! Okay, how long until oil, and the products thereof, are free?
The "masters of the universe" are in for a rude awakening.
Playbook!
The Citizenry are gouged at the well, the tanker, the refinery, at the pump; and yet the highways and roads are crumbling and we are told it is because there is not enough being skimmed from the end consumer.
IF everyone drives a subsidized electric luxury sportscar what do we need roads for?
For the firetrucks to put out the battery fires.
Paul Wolfowitz, war profiteer. What has he been up to? Death is money for these folks...
Must be that hyperinflation that Bernanke and Yellen were going to cause.
The refiners are still fucking everyone. The price should drop significantly within the next 60 days because the summer blend goes away but it won't go down were it should be in realtions to the POO.
Ruble dropping like a rock:
http://www.investing.com/currencies/usd-rub-chart
US troops going to Libya, Syria, Iraq. A fine mess. All lovingly created by the US and Saudi.