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WTI Plunges Back Under $37 (Below Brent); Drags Stocks Into Red For 2015
While everything was awesome last week (apart from the last 10 minutes), it appears lower oil prices this week (WTI just crossed back below Brent's price and under $37 once again) is not "unequivocally good" for US equity markets. Following the bloodbath in China's "B" Shares overnight, traders are hoping this pain will stop once the machines "get back to work" at 930ET...
If this holds, S&P 500 will open back in the red for 2015.
As Bloomberg reports,
Oil in New York falls from 3-wk high as Iran repeats goal of boosting supplies after lifting of sanctions.
Iran’s priority is to boost oil shipments to pre-sanction levels once restrictions are lifted, IRNA reports, citing Oil Minister Bijan Namdar Zanganeh
Country plans to add 500k b/d of exports 1 wk after sanctions lifted, says Rokneddin Javadi, deputy oil minister and head of NIOC, accord. to Shana news agency
“If Iran is able to immediately add 500k b/d of exports, then that will become a huge factor which will push down oil prices in the first half of next year,” says Hong Sung Ki, senior commodities analyst at Samsung Futures. “That decision together with lower demand for heating oil and steady U.S. supplies are poised to be bearish factors for the mkt”
Which has knock-on effects on commodity currencies with the Ruble near record lows against the USD and NOK/SEK at 23-year lows.
Charts: Bloomberg
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Gotcha covered. No terrorism necessary.
The schlongings will continue until morale improves.
Cat o nine schlongs.
deflation, 2016, and c.b.'s are fuked...
print dat chit mon, gotta kick er in da ass..
Stocks don't go down on my watch. My predecessors didn't have the tools necessary to constantly prop-up markets that sought their natural level based upon some semblance of fundamentals. We at the Fraud think that the longer the public's stock market is UP the better they will feel about their miserable lives, and the longer we will be let alone to conduct our "policies" on you.
Keep the faith in FIAT, because it is all you have left.
We Shlonged some folks!!
Your daily crude crunch brought to you by...
moar can fix this
Head fake.... stocks close green for the year. It has already been scripted.
You are assuming that they will continue to maintain the illusion of a strong economy by PPTing the "markets". You may be right but sometime in the near future it will be clear, at least to all of us here, that they have begun to Pull It.
Nothing random or free market about plunging oil prices:
Did the U.S. and the Saudis Conspire to Push Down Oil Prices?
Falling oil prices and the plunging ruble are not some kind of free market accident brought on by oversupply and weak demand. That’s baloney. They’re part of a broader geopolitical strategy to strangle the Russian economy, topple Putin, and establish US hegemony across the Asian landmass. It’s all part of Washington’s plan to maintain its top-spot as the world’s only superpower even though its economy is in irreversible decline.
http://www.globalresearch.ca/did-the-u-s-and-the-saudis-conspire-to-push...
JO, that is the strategy, but it will NOT happen. period. look at the house of cards, pfff and down the paper econ goes, all built on fed debt and faith wanning...
Circus
getting dry fucked on my long oil position, but too many like putin are right there with me..and unlike me, he got things that go bang and make big holes in much of any oil infrastructure, my real bet is on violence and greed..the USA does not have a monopoly on those.
Come on and bring on the carnage!
Oil @ $20.00!
If oil goes sub $20, USDX goes parabolic. Gold goes sub $1000... maybe sub $900. Gartman has gone bullish on gold, btw.