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WTI Passes $110

Tyler Durden's picture


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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Thu, 03/01/2012 - 16:19 | 2214052 ghengis86
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I do

Thu, 03/01/2012 - 16:21 | 2214073 Ruffcut
Ruffcut's picture

Somebody bomb somebody? Took off like a rocket.

Thu, 03/01/2012 - 16:43 | 2214288 trav7777
trav7777's picture

somethin blew up in KSA

Thu, 03/01/2012 - 16:51 | 2214351 redpill
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We "accidentally" let someone blow up our pipeline so we have to charge 20% more for oil now.

Thu, 03/01/2012 - 16:55 | 2214379 spiral_eyes
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Blame it on Iran.

Thu, 03/01/2012 - 17:57 | 2214751 ilion
ilion's picture

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.

Thu, 03/01/2012 - 16:52 | 2214365 markmotive
Thu, 03/01/2012 - 16:19 | 2214054 spiral_eyes
spiral_eyes's picture

Transitory, bitches.

Thu, 03/01/2012 - 16:20 | 2214066 besodemuerte
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This is bullish for equities right?  Rising tide raises all ships sort of thing eh?

Thu, 03/01/2012 - 16:20 | 2214069 Moneyswirth
Moneyswirth's picture

Whee!  Gas lines in the Peoria right on schedule....

Thu, 03/01/2012 - 16:21 | 2214078 Piranha
Piranha's picture

i love this, what are CB's gonna do now? Print more?

Thu, 03/01/2012 - 16:31 | 2214165 alien-IQ
alien-IQ's picture

Now they'll double down on AAPL and NFLX stock. That'll fix it.

Thu, 03/01/2012 - 16:21 | 2214079 Moneyswirth
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Thu, 03/01/2012 - 16:21 | 2214081 Dick Darlington
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Mario! Mario! Mario!

Thu, 03/01/2012 - 16:21 | 2214086 williambanzai7
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Texas Swan

Thu, 03/01/2012 - 16:21 | 2214089 LongSoupLine
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Quick call Boon Pickens!!!!

Thu, 03/01/2012 - 16:32 | 2214182 EmileLargo
EmileLargo's picture

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. 

Thu, 03/01/2012 - 16:22 | 2214090 CreditcalMass
CreditcalMass's picture

Don't see it on my BB terminal yet, but it is rocketing upwards...

Thu, 03/01/2012 - 16:22 | 2214099 JoeStocks
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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.

Thu, 03/01/2012 - 16:26 | 2214129 Mercury
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Didin't I just see that truck traffic is up?

Thu, 03/01/2012 - 16:36 | 2214235 JoeStocks
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Actually the Cerdian Pulse Index shows diesel usage down. That would indicate that trusk traffic is down.

Thu, 03/01/2012 - 17:24 | 2214596 Flakmeister
Flakmeister's picture

Coal is likely driving the drop...

Thu, 03/01/2012 - 17:41 | 2214675 Nobody For President
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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...

Thu, 03/01/2012 - 16:26 | 2214131 ziggy59
ziggy59's picture

I guess iShitz don't get delivered by trains

Thu, 03/01/2012 - 20:51 | 2215253 LongSoupLine
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hmmmm, and the Baltic Index is at record lows too...go figure.

Thu, 03/01/2012 - 16:23 | 2214106 PY-129-20
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128 $



autsch! (ouch)

Thu, 03/01/2012 - 16:23 | 2214111 Caviar Emptor
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It's good to be in de awwl bidness!

Thu, 03/01/2012 - 16:28 | 2214147 EmileLargo
EmileLargo's picture

There ain't no bidness like the Ahl Bidness!

Thu, 03/01/2012 - 16:25 | 2214121 firstdivision
firstdivision's picture

Holy shit!  It's a oil prices.  EOD tomorrow we'll be back down to about $104.

Thu, 03/01/2012 - 16:25 | 2214128 The Shootist
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Hey Zerohedge, el Rushbo mentioned you fellers earlier about yer youth employment article. :)

Thu, 03/01/2012 - 16:27 | 2214133 Mercury
Mercury's picture

On a long enough waistline...

Thu, 03/01/2012 - 16:29 | 2214157 Dr. Richard Head
Dr. Richard Head's picture

....the survival rate of old-man elastic pants is zero.

Thu, 03/01/2012 - 16:27 | 2214136 lizzy36
lizzy36's picture

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.

Thu, 03/01/2012 - 16:28 | 2214145 alien-IQ
alien-IQ's picture

I think the resale value of my Mountain Bike just increased by at least 30%.

Thu, 03/01/2012 - 16:28 | 2214146 Jason T
Jason T's picture

$6 gas bitches... maybe  even gas lines because freaking motor gasoline stocks are at US history low

Thu, 03/01/2012 - 16:30 | 2214163 tmosley
tmosley's picture

The only way to get gas lines is to disrupt the supply with price controls.

That said, price controls are probable at this point.

Fri, 03/02/2012 - 01:19 | 2215907 sun tzu
sun tzu's picture

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. 

Thu, 03/01/2012 - 16:30 | 2214156 The Shootist
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No, they'll lower crude margins and raise metals margins.

Thu, 03/01/2012 - 16:33 | 2214187 lolmao500
lolmao500's picture


Thu, 03/01/2012 - 16:30 | 2214166 ziggy59
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Muwahahaha...Rising Gas Prices Not Enough to Stall Auto Sales: Forecaster
By Jeff Macke | Breakout – 1 hour 9 minutes ago

Thu, 03/01/2012 - 16:31 | 2214167 scatterbrains
scatterbrains's picture

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.

Thu, 03/01/2012 - 16:31 | 2214168 ziggy59
ziggy59's picture

Muwahahaha...Rising Gas Prices Not Enough to Stall Auto Sales: Forecaster
By Jeff Macke | Breakout – 1 hour 9 minutes ago

Thu, 03/01/2012 - 16:31 | 2214173 Jacks Nipple
Jacks Nipple's picture

The news isn't even on Drudge yet. Tyler, give me a homework assignment please.

Thu, 03/01/2012 - 16:38 | 2214245 The Shootist
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Drudge is too obsessed with Mittens and whitney Houston to pay heed to actual news of late.

Thu, 03/01/2012 - 16:33 | 2214198 chump666
chump666's picture

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

Thu, 03/01/2012 - 16:36 | 2214229 YesWeKahn
YesWeKahn's picture

High oil price proves that the economy is booming and my policies worked.


your friend Ben Bernank.

Thu, 03/01/2012 - 16:43 | 2214240 reTARD
reTARD's picture

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.

Thu, 03/01/2012 - 16:54 | 2214374 The Disappointed
The Disappointed's picture


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.


Thu, 03/01/2012 - 16:40 | 2214260 JoeStocks
JoeStocks's picture

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.


Thu, 03/01/2012 - 16:44 | 2214292 jmcadg
jmcadg's picture

Margin call to knock WTI back $10?

Thu, 03/01/2012 - 16:54 | 2214375 Sizzurp
Sizzurp's picture

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.

Thu, 03/01/2012 - 17:47 | 2214701 lolmaster
lolmaster's picture

Load calls biznetches?

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