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WTI Fades Fast After Rig Count Decline Continues

Tyler Durden's picture
Submitted by Tyler Durden on 12/31/2015 14:15 -0400



 

After melting up to pre-API levels this morning, crude prices are falling back (and therefore so are stocks) as Baker Hughes reports another weekly decline in rig count. After surging by 17 three weeks ago, the 2 rig decline in oil rigs in America continues to track the lagged crude oil price.

 

Rig count continues decline...

 

Seems like the algos have run out of stops to run...

 
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Thu, 12/31/2015 - 14:17 | 6982520 shantyman
shantyman's picture

Number 1 tube open to sea! All back full!! transfer freshwater aft

Thu, 12/31/2015 - 14:22 | 6982545 THE COIN
THE COIN's picture

Shoot out the dead bodies first. Maybe we can fool them.

Thu, 12/31/2015 - 14:22 | 6982542 KnuckleDragger-X
KnuckleDragger-X's picture

WTI is being levitated, but it's hard to keep a lead balloon flying.......

Thu, 12/31/2015 - 14:56 | 6982702 Squid Viscous
Squid Viscous's picture

must...find...new...driver... for...higher...SPooz...b4...4pm

VXX? yeah that'll work

Thu, 12/31/2015 - 15:06 | 6982783 Kreditanstalt
Kreditanstalt's picture

"Rig count decline"?  "Baker Hughes"?

 

On a WORLD scale, who cares about US "data"?

Thu, 12/31/2015 - 15:11 | 6982807 KnuckleDragger-X
KnuckleDragger-X's picture

The people holding all the junk paper........

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