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WTI Crude Tumbles To $45 Handle
With Saudi's short-changing contractors, record inventoriers in US and Saudi, and looming OPEC meetings, it appears the biggest marginal driver of crude price (for now) is China. After Friday's algo-driven exuberance, China's worst GDP print in 6 years and weak industrial production have prompted weakness in the energy complex (China SPR build aside), pushing WTI back to a $45 handle once again...
Charts: Bloomberg
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The price of energy will necessarily rise........wait what?
It's time to cover your shorts, jump!
It will go down. Until it doesn't. When Iran is in control of Basra, lets talk about oil prices.
Talk about it all you want......I'm getting off this hamster wheel.
Interesting to see if this Saudi experiment helps or hurts them. Seems it could go either way and quickly. Russia, with their presence, is waiting and will make whatever move is necessary.
So what if there was total peace in the ME and oil flowed freely from all (including Iran, Iraq, Libya and the ususal suppliers)?
All the big players have spent the last few decades creating and supporting the radical nut cases and now that everybody hates everybody, we've created critical mass for the mother of all meltdowns. The end will be awesome in a doomsday kind of way......
Demand slumping and Iran pushing supply on the market.
Good way to kill the Saudis. They are already having troubles.
Come on baby, let's make it down to $40.00 this go round!
Awesome....the 95 million will be able to drive to the 7-11.
I'm taking the car!
I at least expect a 26 $ oils. So , this price handles is still too high.