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WTI Crude Clubbed To $44 Handle As Growth Fears Mount
Growth hope, production cuts, and geopolitical premia were so Wednesday...
Crude gives up the week's gains after being up over 7% as it appears the big hedges are being lifted and underlying longs reduced...
Charts: Bloomberg
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Damn you Janet! I want to pay moar at the pump!
$1.89 for petro this AM.
Party on Dudes.
They just need to devalue the dollar by 50% overnight and get it over with.
Reasons for WTI to increase:
1. Proxy for market (Boost energy companies)
2. Make quick buck off of shorts (it's what we do)
3. Geopolitical risk (where else, M.E.)
Reasons for WTI to decline:
1. Increasing supply (IRAN, continued ZIRP)
2. Decreasing demand (China)
3. Political Shenanigans (Hurt producers)
crude open gap fill @ $44.59. Just filled.October contract roll over is today to November. Gotta fill those orders before close.
Holographic fucking nonsense.
Not entirely.
Oil (and the price of) has become the master resource. Major producers are becoming desperate, and desperation at this point in the Western trajectory is not going to cut it.
I can smell all kinds of "interesting" looming on the horizon.
No shit? Growth fears mount? Really?
Mounting who or wut?
Nevermind. Rather not know.
Are we allowed to say, "Mount" on ZH?
a year ago yes but with this new group I am not sure. Seems like a bunch of queers.
If you look a the world numbers, oil is not being used since the big players are slowly sliding toward the economic cliff and will soon be going over the edge.....
http://www.bizjournals.com/houston/print-edition/2015/09/18/commercial-p...
"WTI Crude Clubbed To $44 Handle As Growth Fears Mount"
Would that be the fear of achieving growth or the fear of lack of growth?
Here's Dr Albert Bartlett to help you out with that one:
https://www.youtube.com/watch?v=F-QA2rkpBSY
"The greatest shortcoming of the human race is our inability to understand the exponential function" - Dr Albert Bartlett
"If only we could get back to positive growth everything would be peachy" - Everybody else
Yes yes but now yall should buy s&p we are in a strong support and darkpools are buying. Buy this mofo dip btfd
Two more earthquakes today underneath Cushing. One 3.5 and one 4.1
http://earthquaketrack.com/p/united-states/oklahoma/recent
" Money (currency) is created out of thin air every minute of every day. Not a singular BTU - British Termal Unit- has ever been created from the magic of fractional reserve banking; it has just created the promise of a BTU that may, or may not be there.
Rapier, like most legitimate investigators into petroleum, have fallen for the dollar poxy fallacy. It is not the price of oil that drives its production, it is the dollar price versus value to the economy relationship that drives its production. A dollar of production cost must be offset by a dollar of created economic activity, or petroleum would not be produced. The money would not exist to produce it.
When a unit of petroleum could power $100 of economic activity it was worth $100. That fell to $75, and it became worth $75. It has since fallen to about $68, and is now selling for $44. The price of oil is a moving target, and that target is moving at the rate of its depletion. That is, depletion in terms of its ability to power the economy, not the quantity of it buried in the ground.
We have explicitly defined the price of oil versus its value to the economy relationship with the Etp Model. It is an energy Model, but dollars can be used as a proxy for BTU; if one realizes that they are just a proxy.
http://www.thehillsgroup.org/ "
Source: http://peakoil.com/consumption/robert-rapier-peak-oil-is-a-function-of-o...
Maybe it decreases because they just print themselves too much fucking dollars.
It would suit me to see it "clubbed" to $30.00
presumably whatever bank you use (assuming you use one) isn't on the other side of those oil hedges I hear about, or on the other other side....
Buy pressure on natural gaz too. Buy natgaz slowly
Shaking the monkeys out of the tree on russell2000. BTFD
when hedge funds are storing oil at st. lucia things aren't exactly going well.
"Clubbed"
I <3 ZH
I am looking at $20 plus/minus $5 according to my advisor down in Houston. He said it's a bloodbath down there. He said it's the "worse robust recovery" he's ever seen.
Houston airport loses international 'oil line' flight due to downturnScandinavian Airlines' last flight to Houston’s George Bush Intercontinental Airport (IAH) will take off next month.
SAS Group spokesman Elvind Roald told the Associated Press that the Norwegian company will cease operations on what it calls its "oil line" because of the decrease in demand in the energy industry.
http://www.bizjournals.com/houston/morning_call/2015/09/houston-airport-...
I'll go out on a limb here and propose that $20/bbl for more than 6 months would leave SA and Russian just about alone in the producer market. For all time, too, just to get that chill down the spine going for you.
These continual oil price moves are a total fkn joke.
Fuck I hate it when lack of demand destroys an artificially priced commodity. Eventually ALWAYS supply and demand determine the market. You can only prop it up so long so make sure you're on the inside and know when the big correction to market force is scheduled to happen.