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Crude Carnages To $42 Handle - Lowest Since 'Andy Hall' August Meltup

Tyler Durden's picture




 

Now down 5 of the last 6 days, WTI Crude is crumbling another 3.5% today, back to a $42 handle for the first time since the manic surge at the end of August. Furthermore, the dramatic decoupling of Oil VIX from Oil that occurred at the end of August has now converged.

 

 

And Oil Volatility and the Oil ETF have recoupled...

 

Charts: Bloomberg

 

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Wed, 11/11/2015 - 15:30 | 6778347 Nex
Nex's picture

Interesting thing with oil price is that in last 12 months always hard fall düring some holiday

Wed, 11/11/2015 - 15:31 | 6778348 Yen Cross
Yen Cross's picture

   Where are all those Iraqi CRUDE tankers going to get parked? 

  I propose CUBA...lol

Wed, 11/11/2015 - 15:43 | 6778406 KnuckleDragger-X
KnuckleDragger-X's picture

Cali, where the REAL commies are......

Wed, 11/11/2015 - 15:59 | 6778497 Yen Cross
Yen Cross's picture

 We don't need no offshore taxes. Don't give Moonbeam any ideas. :-)

Wed, 11/11/2015 - 23:24 | 6780408 hxc
hxc's picture

Not all of us. California may be a communist shithole but it's only marginally worse than most places (which says a lot). You can still count on roughly every other person not being a collectivist dipshit fag.

Wed, 11/11/2015 - 15:47 | 6778422 Francis Marx
Francis Marx's picture

I think the waters near wall street would be good. The stench of oil burning in their nostriles...

Wed, 11/11/2015 - 15:38 | 6778376 Dr. Engali
Dr. Engali's picture

Maybe the .gov should start putting it back in the ground so the oil companies  can pump it out later. Paul Krugman would approve, I'm sure.

Wed, 11/11/2015 - 15:47 | 6778426 The fact is
The fact is's picture

that is actually the current mode of operation, with Cushng instead of the ground

Wed, 11/11/2015 - 16:12 | 6778573 Anopheles
Anopheles's picture

Where do you think the Strategic Oil Reserves are stored?   Underground in salt caverns. 

Wed, 11/11/2015 - 16:37 | 6778698 Dr. Engali
Dr. Engali's picture

Uhhmmm, it was a joke. I say it was a joke son...., laugh. You miss the whole point.

Wed, 11/11/2015 - 16:24 | 6778625 The fact is
The fact is's picture

.

Wed, 11/11/2015 - 15:40 | 6778382 _ConanTheLibert...
_ConanTheLibertarian_'s picture

Ah our daily crude carnage

Wed, 11/11/2015 - 23:25 | 6780420 hxc
hxc's picture

Suck my dwti kawk

Wed, 11/11/2015 - 15:40 | 6778385 TheBeatles
Wed, 11/11/2015 - 15:46 | 6778423 Sudden Debt
Sudden Debt's picture

It's legally impossible so it's a scam.

You can't buy silver taxfree and collect it in Europe.

Wed, 11/11/2015 - 15:40 | 6778386 Francis Marx
Francis Marx's picture

Good thing Tyler and I shorted buying PUTs at $48 last week. ....Come down too daddy...Muhahaha!

Wed, 11/11/2015 - 15:54 | 6778466 CarpetShag
CarpetShag's picture

Don't worry, J.G. Ricktards said the equilibrium price is $60.

Wed, 11/11/2015 - 23:28 | 6780423 hxc
hxc's picture

Rickards is a bizarre mix of austrian and new-keynesian... Meaning both intelligent and evil, respectively.

Wed, 11/11/2015 - 15:55 | 6778468 arbwhore
arbwhore's picture

2% inflation target? only in your dreams, Janet.

Wed, 11/11/2015 - 15:59 | 6778495 Seasmoke
Seasmoke's picture

It's almost impossible that every day in oil and Gold is down. No one wants to see a price increase ???? Could you imagine if S&P acted like these.

Wed, 11/11/2015 - 16:04 | 6778538 Yen Cross
Yen Cross's picture

 Well, when you have 100 TOZ contracts trading like paper

Goldschläger. 

 Walk into any coin dealer, and ask him what he's willing to pay over spot.

 The paper market is so saturated, that it might as well be Venezuelan toilet paper.

Wed, 11/11/2015 - 16:08 | 6778551 Seasmoke
Seasmoke's picture

Gold breaks 5 year low today. Quietly. S&P 101% above its 5 year low. I must be going crazy. But I'm definitely pissed off !!

Wed, 11/11/2015 - 16:34 | 6778666 Anopheles
Anopheles's picture

It's just a month or two short of it's 6 year low. 

What?  You actually believed the bugs when they unilaterally proclaimed gold is the new god ("money").   Hint, they operate on FAITH, not logic. 

Wed, 11/11/2015 - 16:11 | 6778562 Anopheles
Anopheles's picture

Coming up, the S&P will be down, and gold down even further.... 

Wed, 11/11/2015 - 17:47 | 6779032 TedStyle
TedStyle's picture

How is it possible that China and all countries arebuying record amounts of physical gold and consuming more oil and the prices are still going down. Is it just that manipulated?

Wed, 11/11/2015 - 18:11 | 6779119 alphahammer
alphahammer's picture

 

How could it be that anyone has a damned clue as to who, what or when any country is buying "record amounts" of physical gold?

FYI. Central bank buying and or selling of gold is one of the most top secret things on this planet. They say plenty of things and the only verification of what they are doing / did is their press release...

FYI Nobody actually knows how much physical gold actually exists on Planet Earth. No shit. It's all estimation.

FYI. Iran is sitting on >50 MILLION barrels of oil just waiting for the moent that the sanctions lift to hit the market. Every single entity in the global oil complex knows that, and there is NO way oil is going up on the back of that. 

Wed, 11/11/2015 - 23:31 | 6780438 hxc
hxc's picture

Well fucking put, especially the first part. People assume too much knowledge... Haven't read enough descartes or hayek

Wed, 11/11/2015 - 16:03 | 6778523 Gregory Poonsores
Gregory Poonsores's picture

Are the tanks full yet? Oh wait that was gonna happen in June.

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