Posted on 12/12/2014 6:57:04 AM PST by John W
NEW YORK (TheStreet) -- Crude oil resumed its selloff on Friday, crushed by market fears that oversupply would further decimate the commodity's value in the face of tepid global demand.
Stocks opened Friday in the red, signaling the fourth down day this week. The S&P 500 dropped 0.41%, the Dow Jones Industrial Average fell 0.38%, and the Nasdaq tumbled 0.9%.
(Excerpt) Read more at thestreet.com ...
The relatively slow rate of price drop (spot, I assume) is likely due to the overhead/drag of huge house of cards of the financial instruments based on the spot price?
Personally, I enjoy it when the teeming masses take to the roads to spew evil carbon....
Spare me. The Dow went up over 200 points yesterday. The market is rigged and goes up or down by design.
Sure is a good thing they passed the Cromnibus last night, just in time:
http://freerepublic.com/focus/f-news/3236486/posts
Closed only 63 up.
How are other commodities doing such as wheat and pork bellies?
Does anyone know how to do the oil limbo?
Exactly. Markets go up and down, both the stock market and oil prices.
While I love the low gas prices. I don’t think it will be permanent.
It seems to me oil might be over sold right now. Or at least close to being over sold.
I think he meant the day before yesterday.
Oil in a deflationary trend carrying over to the stock market and put it in a deflationary mood and trend.
Meanwhile all food prices I see are up with a certain chocolate doubling since last year
Supply curve is chasing the demand curve.
Supplies!
This article shows that “The Street” is full of manure, anyone with any knowledge knows that the markets were inflated by QE, and that when QE was stopped the banksters no longer had truck loads of cash to inflated the markets.
Commodities are the first things to go up during QE, then other goods follow suit. The goal was to convince everyday Americans that the markets were moving up and to new highs and they should get back in. At which point the banksters sell off and investors are left holding the bag.
So whenever I see someone write BS like this it lets me know they are not very honest or are just stupid.
After years of sitting around, I’m driving my Yukon like I stole it, again.
God, I love a V8 tank.
10 mpg, be damned.
:)
God wants us to have lots of torque and rear wheel drive.
(on demand 4wd is fine too)
Down 155.03(0.88%) 10:57AM EST
Some great bargains in high yield MLPs
I think a big issue here is that the increased production in the USA and the US$400 billion petroleum production deal between Russia and China means that OPEC could lose the vast majority of its petroleum sales to the USA and China. And that will mean a huge glut of crude oil and natural gas very soon. In short, the speculators overplayed their hand and Adam Smith’s “invisible hand” just did a judo chop on the speculators.
I listen to a lot of biz tv during the day.
What’s interesting is that NOBODY was predicting this.
It’s a real wild card.
After the decline began, most of the experts were predicting a quick rebound by end of the year.
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