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Crude Crumbles Back To $45 Handle - Down 6% From China GDP

Submitted by Tyler Durden on 10/20/2015 12:05 -0400

While this morning's dead cat bounce pressed WTI Crude up to almost $47 (Dec contract), it has been an almost non-stop downswing since China reported GDP. This morning's chaos in the T-Bills market appears to have spooked algos out of risk-on positions and broken WTI Crude back to a $45 handle...

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Tue, 10/20/2015 - 12:09 | 6689754 Big Beta Bill

So this is a demand story?

Tue, 10/20/2015 - 12:16 | 6689791 madcows

Don't worry. this next quarter is gonna be HUGE. Just wait. Green shoots abound. high paying jobs everywhere. CAPEX lending will lead to surging productivity and wage growth. Government de-regulation will lead to robust economic growth, now that the shackles of over-govenmentalization are off. And Inflation. don't forget, low inflation. cheap imports right before Christmas. Get your hands on some retail stocks. It's gonna be HUGE!

/sarc off.

Tue, 10/20/2015 - 15:06 | 6690610 Deathrips

With infinate dollars chasing real commodities the commodities will all soon be FREE!!!

SMH.

RIPS

Tue, 10/20/2015 - 12:38 | 6689898 KnuckleDragger-X

Kind of, and it has the Keynesians confused since the market isn't magically growing......

Tue, 10/20/2015 - 12:48 | 6689941 TideFighter

I have no doubt that Hillary can fix this, yeah.

Tue, 10/20/2015 - 13:13 | 6690056 Soul Glow

Bullish for the economy because it frees up moar monies for Americans to spend on hookers and blow.

Tue, 10/20/2015 - 14:57 | 6690570 undertow1141

Until you count the bearish cost of utilities and food. THat money was never freed up, it just went to another non-inflation counted necessity.

Tue, 10/20/2015 - 13:36 | 6690157 NoWayJose

With a million barrels per day in extra production, and storage facilities overflowing across the globe, and with Libyan-Iraqi-Iranian oil coming into the market, and with the Saudis needing to pump more to keep its people from rioting -- I'd say "sell the rallies".

The only way oil goes up is if something unexpected is caused by the U.S. in the Muddle East.

Tue, 10/20/2015 - 14:27 | 6690402 adr

Oil has essentially been under $50 all year, but gasoline hasn't dropped below $2.20.

At this time last year I was paying under $2.00 at the pump and oil was $20 more expensive.

Oil is cheaper than any time in 2014, bi

Tue, 10/20/2015 - 14:51 | 6690543 kaboomnomic

Not hitting 26$ yet? Oh, OK. Back to sleep..

Crude Crumbles Back To $45 Handle - Down 6% From China GDP

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