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Oil Tumbles Back Into Red As Saudi "Whatever It Takes" Jawboning Is Not Enough
Just 2 hours after news broke of Saudi officials discussing the need to do "whatever it takes" to stabilize the oil market - sending crude soaring - half the gains are gone. With the algos tagging Friday's highs, WTI Crude has tumbled back into the red from Friday's close as traders want action not words to solve the massive global oil glut...
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Take that bitch.
It's called a free market.
8 mpg Hummers in every garage.
Or, for about the same price, four Chevy Sparks.
http://www.chevrolet.com/spark-fuel-efficient-car.html
Drove one of these about 160 miles yesterday, used less than four gallons of gas. Pretty comfortable, can actually seat four, but no problem for two people. Interior is roomy, sound system decent, holds the road OK, but I would not want to be in one in a crash.
I generally prefer my 1993 Chevy G20 with the 350, 8 cyl. engine. Actually, just bought a second one yesterday, $1300, paid for partially in silver, financed partially with silver. Manipulators of the world can choke on that.
(sorry, but I am excited about this, so I'll elaborate.)
Guy has the van for $1300. A little overpriced maybe, but, still, OK. He needs it until December 20, so I offered a down payment of two 5 oz. silver bars, and he was agreeable with that (maybe even a little enthusiastic). Since I am not picking $20s off a money tree in the back yard, found a friend who will finance part of it with a number of silver bars as collateral. Upon delivery, I pay in cash, and pay back my friend monthly, and I get to keep my silver.
THAT's what silver and gold are for, my friends. The ultimate collateral. And, it's on sale.
Sorry no gm's anymore. Hv 2 now. I've got a very babied van that has no electric windows or locks working, a new ac/alternator and 5k worth of repairs needed including rad leak. Under 100K miles. It has been relegated to the as needed and not too far from home space. I love it but i dont trust it, lol
Those aren't the hummers I was looking for...
Oil must be free
People with 29.5 hr/wk jobs and overpriced healthcare can't afford gas......go figure.
There's the way you want things to work.....and then there's the way it actually does.
This is all about $100 barrel oil derivative contracts.....and they can choke on that crap.
For pimps with 'other' sources of income and who can afford gas, their whip has arrived!
http://www.stadiumautotexas.com/Used-2015-Cadillac-Escalade-Arlington-TX/vd/31376238
How many gallons per mile?
A lot more after I retrofit that bastard with armor and ammo...
Only Russian bombing of Saudia Arabia and Qatar in retaliation for their supported ISIS bringing down the Russian passenger jet will move oil prices higher
And that can happen. Russia has threatened to attack Saudi Arabia and Qatar before.
Russia's UN Envoy threatens to wipe Qatar off the map
http://sultanalqassemi.blogspot.com/2012/02/russias-un-envoy-threatens-t...Paid $1.84 at a WaWa in Jersey yesterday. Suck on my saggy withered ball bag frackers!
yeah and based on what oil is trading at the price should be $1.50. Even though $1.84 seems cheap, we are still getting hosed.
Crude Futures went from 52.69 to 40.39 since Jan 2. That's -23.3%
Gasoline Futures went from 143.34 to 129.03 since Jan 2. That's -10.0%
Yup, we're getting hosed.
Of course, doing whatever it takes doesn't include ending military spending.
Of course not. And it doesn't mean cutting off funding for the Wahhabi psycho sect either. We have to keep our priorities straight.
Those dark pool HFT boys are resiliant Tyler. Give em some more time to ramp it up.. They got billions to manipulate and the best algo's money can buy.
putin, could do well to send iran mad men after the gulf oil terminals and call it isis. all he would gain is much higher oil price, more ME influence. and everyone bombing isis for assad in syria..naw he ain't that smart.
false flag attacks ain't just cia's bag of tricks anymore.
Iran vs Saudi Arabia would be interesting, one has a competant army the other doesn't, despite being better equiped.
KSA is using Sudanese troops in Yemen.
http://www.sudantribune.com/spip.php?article56758
No no no. Just a few "American" mines in the harbour and some foreign pilot in the Saudi airforce shooting up their big facility on the north shore. Easy enough to arrange.
Too bad Gold and Silver doesn't have anyone to jawbone for them.
It reads as if you are looking to sell.
I welcome lower prices and as they are giving it away with the almost guaranteed price declines then it is wise to short paper and buy up Physical with the profits sans the Capital Gain Taxes..
You can stack it for free if you are clever and have the capital.
Pretty much the case. Only about three or four talking heads. They keep them off MSM, for sure.
and here i thought all those full tankers had miraculously emptied overnight. /s
They catch to much flak these days for dumping it into the ocean. I'm sure they thought of that, though! lol
STFR!
Wait....what? Oil back down?? This can't be! You mean the markets aren't buying the 'Whatever It Takes' line???
Paging Mr. Draghi ... Paging Mr. Mario Draghi. Please come to the courtesy phone in the lobby. You have an important call holding....
The Jawbone technique: We must increase the price of oil because there is no storage room left for the market to buy any more.
The Saudis didn't get the memo: The new wording to use as of 20 November is "we will do what we must"!!
"Whatever it takes" is so 2012...
And next year it will be "we'll proceed as reality defines". Gets better all the time, eh?
if they chip through the 42.75 area you will see 45-46. The suspence is killing me ha-ha!
But then it will drop agian. If it gets through the 40 area next time around, the branch will snap down to who knows what!
Oil will hit 150 bucks again .... But a cup of coffee will be 200
Fucking day trading morons.
A stable price doesn't mean ten or twenty dollars higher, it means a STABLE FUCKING PRICE!!!!!!!!!!
If you don't know what the range price of oil will be a week out, how can you plan for anything.
Oil could be $32 next week, or it could be $55. Both are not only plausible, both are probable. You can't run any type of business with that kind of pricing volatility. Then you have the 5-10% bullshit moves on inconsequential weekly inventory chatter.
Here's a small hint, if you don't have anywhere to store the stuff, you aren't going to pump more. You are going to shut your wells down. The rig count decline isn't bullish.
TURN OFF THE FUCKING MACHINES AND PUT SOME REGULATIONS BACK ON COMMODITY TRADING. The world economy has been fucked up beyond recognition for 16 years because of gambling in commodities. All we can do is blow larger debt bubbles to make it look like anything is working.
Stop it ADR! Just stop it I say! You are frightening the Keynesian children wtih all of this rational talk.
Bravo! Best post yet today!
Agreed!
Related topic - if we had some price stability, maybe the $550 billion capEx spending around our oil industry would not be up in flames right now. Say what you want about how we pump our oil - but it's nice to send a few billion USD less every months to a bunch of guys that want to kill us
Traders want action not words in order to "stabilize the oil markets"? Bullshit. Traders want to frontrun and skim money from actual market participants. They want inside information. They want to become rich. They don't want stable markets because it's harder to steal.
Manipulated rigged markets are apparently just fine until that's no longer working in your favor....aw shucks.....no more shit eating grin photo ops with puppet presidents for a while.
Damn, I'm seeing WTI at $39.39 via Yahoo Finance and silver was under $14/oz. I have been talking for a year now about $12 silver, and waiting to buy, but I'm getting itchy and I have cash.
Cramer? Where's the BUY! BUY! BUY! button for silver, you fucker?
If you want to buy silver, shouldn't you be waiting for Cramer to pound the table to SELL?
If the towelheads blink then the US shale patch gets a reprieve and just makes up the difference ... #JawboningTowelheadFail