Crude Crash Crushes Credit Risk: WTI Hits $47 Handle, Energy Spreads Top 1000bps

As energy stocks continue to catch down to oil-price's incessant weakness, US energy company credit risk has surged back above 1000bps for the first time in 3 weeks. WTI Crude oil prices just traded to a $47 handle - the lowest since April 2009.

 

Another day, another fresh low...

 

And energy stocks are catching down fast to oil's weakness...

 

Fool me once (or twice or three times)...

 

 

Charts: Bloomberg