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Crude Crashes To $35 Handle After Biggest December Inventory Build In 22 Years
Following last night's surprising 2.3mm barrel inventory build, reported by API, DOE reports a massive 4.8mm build against expectations of a 1.5mm barrel draw and way above the highest estimate of a 2.6mm draw. This is the biggest build in 2 months at a seasonally 'weak' time of year (and biggest December build since 1993). Crude ramped overnight to regain the losses from the API dump, but dropped back to lows (under $37) before the DOE data, then crashed below $36. Furthermore, production was up in the lower 48.
Biggest build in 2 months...
This is the biggest Mid-December build sicne 1993...
And production rose...
Crude prices collapsed lower...
Charts: Bloomberg
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Fool me eleven times, shame on... who???
obviously, it's bush's fault
how is it that when this was posted WTI had not gone below 36 yet and was at 36.80? But now after this article has been out a few minutes I'm watching crude take the plunge???
ZH is now predicting the future in real time???
You guys are gettin' scary good at this shit. ;-)
Most free feeds are delayed by 15-30 minutes. Tyler has a Bloomberg terminal and gets quotes in real time.
Look up - daily fx crude oil chart - it's real time and you can do a lot of interactive stuff as well.
https://www4.dailyfx.com/crude-oil
delayed quotes?
Crude is a tool of war...as long as the west and saudi are after Putin, the price will continue to decline...
Until WTI hits the low to mid twenties (and stays there for a month or two), production will continue to increase by the zombie frackers.
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The Troll came in through the bathroom window
Protected by the silver spoon
Now he sucks his thumb in wonder
As he's being banned, oh so very soon
The only thing crude has going for it is the new QE program yellen will unveil this afternoon.
tradable bottom
Hahahahaha
Export this crude to Spratly Islands, now!
There doesn't seem to be a bullish case for WTI now, but that doesn't mean the whoremasters won't pump the prices back up. That would make about as much sense as anything else does in these FUBAR times.
FUBAR.
if(supply-demand>0){
decreaseprice(now,futuresshort(average));
}
TD...Is there any place that has consolidated 'demand' data?
US drillers just too greedy, pumpin the shit out of their rigs when WTI is so low. Desperatation im the air.
gotta get it before its gone, peak oil n such. Plus the scary new climate agreement is going to rid the world of those nasty fossil fuels. Youll all be driving priussus soon muahahha (cuz you poors cant afford a tesla)!!!!
Hellcat even tho its a pos ...its pure muscle.
yes the new 2018 hellcat is a hybrid 4 cylinder due to new regulations. Enjoy.
Maybe we can use the failed public school system in Chicago or [insert name of large US city] to act as an oil depot. Seems like better use of tax payer dollars.
As long as crude keeps falling the "most crowded trade in the world" will become even more crowded.
Yes....Mu-hahaha. Bought shorts in yesterdays highs.
There you go using that word "crash" again.
Only $35 more dollars to go,and then the gas station will start paying you when you fill up your tank..
"Isolated", "Contained", "Transitory", "Data Dependant", "Transparent", " Fucked"
No way they raise a whole .25 now, eh ?
30% of Canada's economy is now officially in a depression and their government is still trying to paint a growth picture for 2016. Totally laughable. Those wheels are coming off soon.