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WTI Crude Plunges Below $40 - Erases Post-Paris Gains
Massive excess supply, storage filling rapidly, production near record levels all appear to be trumping any 'war' premium as WTI has now erased all of the post-Paris gains after DOE confirmed surging inventories continue...
Charts: Bloomberg
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And profits were taken and the sheep shorn.......
And laid off.
And going to get thier new F-250's repo'd.
Wake me up when I can fuel up the diesel for less than a buck a gallon.
Nobody told the petroligarchs that shit's supposed to trickle down to main street.
You think they would let this money trickle down if you just told them so?
Another pump-n-dump based on nothing
Bullish forever.
When do the defaults start? I'm sick of this shit. I want me some carnage.
We glutted some people...OBOZO
ZH anti oil bias continues. Can you not see it is the same manipulation used in Au & Ag markets.
I don't recall a massive oversupply glut in Au and Ag... in fact physical demand in both those markets remains high. Lots of oil bulls simply refuse to beleive that oil is being overproduced. Any tiny glint of positivity for oil and oil stocks shoot for the moon immediately. Meanwhile all these companies are losing money hand over fist.
Butt, butt "trouble in the Mid East" cry the oil companies.
That chart's 'WTF' section is clearly the Fed's 'Hand of God'.
Well. I wouldn't worry too much anymore. Russia is removing the cheapest supplier as we speak.
https://www.youtube.com/watch?v=huF-BYzJPaM
Between this and Russia about to ban Ukraine grain, maybe long Russia. Nothing like protectionism to spur that oil sector and Agriculture growth.
Damn right.
Long oil and gold.
Short debt, welfare and Islam.
Lowest in price, in what... 10 years?
There must not be any inflation!
Start eating oil, plebs
Some well orchestrated vandalism in the Saudi refineries would do the trick. It's like an old west polker game... near the end, everybody's got one hand under the table.
Don't worry, Goldman is giving money to ISIS so more terrorist attacks can lift the market up again.
The price of nickel is back to the 1990’s and so is our wages which can only mean the Federal Reserve has done a terrific job the last few decades!
Of course it has!
If Aunt Janet can target interest rates at zero, Abu Salman can target oil prices at USD40 a barrel, at least till Riyadh's nest-egg holds out.
And they say the gold market is rigged!
This is it! This was what I was waiting for! Under $40.00/BBL. Now the price of gas can go up!
sounds like a good reason to start a war....
WTF>>>WTI=FED
Oil traded below 40 for a few minutes by 9 points and is trading $1 higher. Not exactly a 'plunge'.