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WTI Crude Surges Back Above $38 (But Stocks Aren't Playing Along)
Unleash 'The Andy Hall Algo'... it seems the quarter-, year-end mark-ups may just be required to maintain 'some' hedge funds and hold off liquidation for another quarter...
Some context for this latest "The Bottom" in oil...
Even stocks have stopped playing along with oil's silly game...
What next?
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Yawn. Let me know when CL is back above $45. Until then, this is all just Gartman.
Yup. You know they are stupid beyond belief when the phrase "surge" and "above $38" is used in a headline. Wake me when it is above $50.
It's driven by a bump in consumption. Damn every piece of shit car that will hold gas is on the roads now that the price has dropped. And they're all from age 16 to 90 talking of the FUCKING phone at the same time, content to let 2 cars go through each 60 second green light. Damn we are a stupid population.
MOTHERPHUCKERS ON PHONE NEED TO BE EXTERMINATED !
Dollar Will be Biggest Casualty of Lower Oil Prices: https://youtu.be/7NWUhQOp6yM
It'll all be mere noise in a week when stocks, oil and HY all continue their slide. Will be fun to watch the "santa rally" mob all try to dump the crap they've bought with the expectation that they'll be smarter and quicker than everyone else when getting out.....
oil spike caused by export ban lift- all frontun by insider scum. Also, last 2 weeks inventory draw is normal, I looked back on IEA data, so next week drawdn likely as scum avoids tax on inventory. EPD/ETE announced export contract
Not possible as the US is still a net importer. Ending the export ban just narrowed the Brent/WTI spread. In the future, when US greenie-weenies have essentially regulated refineries out of existence it will become important but that's a ways down the road.