Posted on 11/14/2014 2:28:23 AM PST by TigerLikesRooster
Crude-oil prices continue to slide
By Eric Yep
Published: Nov 14, 2014 3:22 a.m. ET
Crude-oil futures continued to slide on Friday after sharp overnight losses that traders say has reinforced bearish market sentiment and potentially set the stage for further declines.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in December CLZ4, +0.19% traded at $73.45 a barrel, down 76 cents, or 1.1%. January Brent LCOF5, +1.24% crude on London’s ICE Futures exchange rose 61 cents to $78.10 a barrel.
(Excerpt) Read more at marketwatch.com ...
P!
Brent: 78.22
WTI: 74.27
RBOB: 201.52
Or the third option: Obama has so laid waste to our economy they can't give oil away?
I vote for door #3
Everybody has slowed down their demand for oil. The US, thanks to tracking, has become mostly self-sufficient in its needs.
I don’t see anything conspiratorial about this, but it will hurt my province’s budget in a serious way.
American consumption of foreign oil is way down due to the shale revolution. Euro demand is tanking as they just realized their economy didn’t actually recover. China’s demand isn’t taking up the slack - so prices are down.
Normally, I wouldn’t support government price controls, but perhaps the government should look into some means of supporting the shale oil revolution and keeping it going. Not for economic reasons but purely national defense - with shale, it is conceivable that the U.S. (With the assistance of Canada) could become a net exporter, wholly self sufficient on North American supplies.
The ability to tell the Middle East “hey, you’re Europe and China’s problems now, don’t call us because we don’t need you any more” would be priceless. As would be Europe’s sudden realization that the US won’t intercede if things go south in the Middle East when their ‘soft power’ doesn’t work.
A good time to physically shut off the flow of oil from Iran.
oil from Libya is coming on line.
Absolutely...let them look for pity from the Chinese!
There really is no way to get around the economic devastation after 6 years of obama. I’m surprised this didn’t happen sooner.
Oh NOOOO,
How will Putin finance his military expansion and all?
He has 2 more years to really “F” it up. . . .
I know you meant FRACKING. . . .
The Saudis have cut their prices, to American refineries only, in an attempt to choke off the shale industry.
Won’t really work. Shale costs are a moving target. Still it will be interesting to watch the response of our gutless Republican leaders.
Obama will vote down Keystone and do his best to choke off shale in partnership with the Saudis.
I did mean fracking.
But my phone likes to play games.
auto checker overdrive.
Gotta love the auto correct features. . . .
For a while there when I would type np for no problem, it would correct it to no.
So the conversation would go like this.
person1 - Can you help me out?
person2 - no
person2 - I meant to say no.
Maybe supply has risen so sharply that it is exceeding prior demand, and the price is declining in consequence? THAT IS JUST AN HYPOTHESIS
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