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WTI Crude Just Plunged Back To Unchanged After White House Un-Supports Lifting Crude Export Ban
Well that escalated quickly... WTI back to a $43 handle again as The White House comments that it does not support The House bill to lift a ban on crude exports. Reuters reports that The White House says The Commerce Department should make the policy decision.
House Majority Leader Kevin McCarthy to announce that he’ll schedule
vote on bill to lift U.S. crude-export ban in last week of Sept.: WSJ.
The comment sparked selling in WTI (as Brent-WTI hit an 8-month tight)
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Blink blink ... wha?
Think of the money being made trading these "announcements" by those who are on the friends and family list.
It's not insider trading if congress does it......
Those $45 strike CLV short calls will not defend themselves...hello!?!?
Yeah but it is already back up in the $44 handle. See if pitclose can smash it back into 43. Yesterday it was a meltup last 9 minutes to make sure it closed just above $44. Today seems like the same play. Of course we have 23 more minutes.
9 minutes till close. time for major fuckery either way. The robots are on time today.
and almost to $44.74 just like that. From 43.92 to 44.75 in minutes...LMAO!!!!!
Close @ $44.59 just above VWAP again haha!!!!
Time for low volume levitation all night long. Then we do it again tomorrow with inventories .
https://en.wikipedia.org/wiki/1970s_energy_crisis
History never repeats, it just remixes. Marc Rich must be laughing his ass off from the great beyond at this vol.
They are just shaking the tree
easy money
10 YT is doing a dance as well
http://www.marketwatch.com/investing/bond/TMUBMUSD10Y?countrycode=BX
Bullish right? 1000+ points on the Dow
Little shaky on the pit sell off spike on 43 handle for a bit. Oh well. It will go up and down you know!
Does it really matter when gdp has been negative since Lehman?
Come on.
Typical Obama....don't let the elected congress make a decision...just some well bribed Obama crony
Thank you very much, Mr. Roboto
For doing the jobs that nobody wants to
And thank you very much, Mr. Roboto
For helping me escape just when I needed to
Thank you, thank you, thank you
I want to thank you, please, thank you
The problem's plain to see:
Too much technology
Machines to save our lives.
Machines dehumanize.
The ban is meaningless except for possible efficiency gains at the margins if it were lifted (which BTW would imply a lower price anyway). Other than being window dressing for the dolts, of course. So the politicos can pose for them like they're doing something against "big oil."
Oil is a worldwide market. Whatever oil stays here, we don't import that amount. It's a zero sum game.
Now correct me if I'm incorrect but was I told that it's untrue that people in Springfield have no faith? - Was I not misinformed?
Totally fucking stupid, the real value is in the refined distillates...
Remember, we do sell/export numerous oil products...
While this will not affect crude prices, it will be another job killer.
The best option for the country is to keep the ban. Build and staff a bunch of new refineries and export finished product, not crude. If the pols really cared about the middle class, the balance of payments, they would shelve the Greenies and build some plants. Recently Whiting in Chicago went down for maintenance and everyone had a tizzy paying higher reates for gasoline. If there was a different branded refinery near there then the impact from the Whiting maintenace season would really not have mattered all that much.