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WTI Passes $110
Update 1: WTI touches $110.55 before retracing to just under $110.
Stops triggered following WTI crossing $110. SPR announcement due any minute? Also, we give a CME margin hike a probability of about 60% at this point.
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I do
Somebody bomb somebody? Took off like a rocket.
somethin blew up in KSA
We "accidentally" let someone blow up our pipeline so we have to charge 20% more for oil now.
Blame it on Iran.
This explosion story was only created to take out the stops at and above 110 level. Armada Markets analysts just sent out a note to clients expecting oil to retest the 110 level tomorrow and then come back down to 107.5 level. Before coming down I think we could go even higher, to 115 level to fry all the sheeple out.
Peak Oil anyone?
Transitory, bitches.
Levitation until
http://www.youtube.com/watch?v=a3iTCk79kXI&feature=related.
This is bullish for equities right? Rising tide raises all ships sort of thing eh?
Whee! Gas lines in the Peoria right on schedule....
i love this, what are CB's gonna do now? Print more?
Now they'll double down on AAPL and NFLX stock. That'll fix it.
Parabolic.......yeesh
Mario! Mario! Mario!
Texas Swan
Quick call Boon Pickens!!!!
Pickens probably has a leveraged 1000:1 long position on NYMEX and ICE as we speak. Gambling is hard to give up even at 84.
Don't see it on my BB terminal yet, but it is rocketing upwards...
Anyone watching rail car numbers?
Rail traffic. Last week they reported a 6% decrease. I thought it a one time event so I did not think much of it. Then again today they report a 5% decrease. Now we are down here year to date.
AAR Reports Decrease in Weekly Rail Traffic
WASHINGTON, D.C. – March 1, 2012 – The Association of American Railroads (AAR) today reported a decline in weekly rail traffic for the week ending February 25, 2012, with U.S. railroads originating 281,644 carloads, down 5 percent compared with the same week last year. Intermodal volume for the week totaled 214,402 trailers and containers, down 2.8 percent compared with the same week last year.
Nine of the 20 carload commodity groups posted increases compared with the same week in 2011, with motor vehicles and equipment, up 30.9 percent; petroleum products, up 25.6 percent, and metals and products, up 19.4 percent. The groups showing a significant decrease in weekly traffic included coal, down 13.1 percent; grain, down 11.9 percent, and nonmetallic minerals, down 10.8 percent.
Weekly carload volume on Eastern railroads was down 8 percent compared with the same week last year. In the West, weekly carload volume was down 2.9 percent compared with the same week in 2011.
For the first eight weeks of 2012, U.S. railroads reported cumulative volume of 2,272,480 carloads, down 0.3 percent from last year, and 1,772,839 trailers and containers, up 1.6 percent from last year.
Didin't I just see that truck traffic is up?
Actually the Cerdian Pulse Index shows diesel usage down. That would indicate that trusk traffic is down.
Coal is likely driving the drop...
Anyone watching rail car numbers?
Actually, JoeStocks is watching this key metric for us ZH fools, and related traffic information.
Thank you very much.
These numbers are reasonably important leading indicators, and indicate that things are not well in the Empire...
I guess iShitz don't get delivered by trains
hmmmm, and the Baltic Index is at record lows too...go figure.
128 $
...
...
autsch! (ouch)
It's good to be in de awwl bidness!
There ain't no bidness like the Ahl Bidness!
Holy shit! It's a recovery...in oil prices. EOD tomorrow we'll be back down to about $104.
Hey Zerohedge, el Rushbo mentioned you fellers earlier about yer youth employment article. :)
On a long enough waistline...
....the survival rate of old-man elastic pants is zero.
Brent Crude up over $5.
Pipeline explosion part of it. But those newly minted EUR529B from yesterday also looking for a home.
Free money is sooooo EASY.
I think the resale value of my Mountain Bike just increased by at least 30%.
$6 gas bitches... maybe even gas lines because freaking motor gasoline stocks are at US history low
The only way to get gas lines is to disrupt the supply with price controls.
That said, price controls are probable at this point.
Maybe at $8 there will be price controls. It will then bankrupt smaller refiners and importers. Then we'll get gas lines and a nice Jimmy Carter style recession along with high inflation.
No, they'll lower crude margins and raise metals margins.
+1
Muwahahaha...Rising Gas Prices Not Enough to Stall Auto Sales: Forecaster
By Jeff Macke | Breakout – 1 hour 9 minutes ago
http://finance.yahoo.com/blogs/breakout/rising-gas-prices-not-enough-sta...
Maybe this is the only way for the Saudis to stop their natural resource from being stolen is to start having unfortunate and strange occurrences of oil pipeline explosions etc. I wonder if Libya might also start suffering a rash of oil related explosions too.
Muwahahaha...Rising Gas Prices Not Enough to Stall Auto Sales: Forecaster
By Jeff Macke | Breakout – 1 hour 9 minutes ago
http://finance.yahoo.com/blogs/breakout/rising-gas-prices-not-enough-sta...
The news isn't even on Drudge yet. Tyler, give me a homework assignment please.
Drudge is too obsessed with Mittens and whitney Houston to pay heed to actual news of late.
this is how dumb HFTS are, they sell at 108,110. Dow tanks, it falls back to 109, 110 they start buying frantically. all while 5yr yields are up, to be expected as rates are going up and USDs are bid. quite amusing actually. volatlity going to eye bleeding next few days
High oil price proves that the economy is booming and my policies worked.
your friend Ben Bernank.
I'm waiting for Nancy Pelosi to hold another press conference to blame the speculators on Wall Street. I better finish my lunch first or I'll vomit watching that witch.
reTARD,
I'd want to wait until after she's done before eating lunch. She may ruin your appetite, but at least you won't choke to death that way.
IMHO
TThe Ceridian-UCLA Pulse of Commerce Index® (PCI®) dropped 1.7 percent in January. That places the PCI 2.2 percent below year-ago levels with essentially no growth in the year-and-a-half since the summer of 2010.
This is a diesel fuel usage index. Febv numbers will be out around the 10Th.
http://www.ceridianindex.com/
Margin call to knock WTI back $10?
I guess the Fed has a harder time with oil than with gold. Can't they just make oil cheap forever with as much as you want? Come on bernanke, we all know you are bigger and better than the market....... you know what is best for us.... don't you.
Load calls biznetches?