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2015 Starts As 2014 Ended: Crude Crumbles To Fresh Lows, WTI Tests $51 Handle
Zero Hedge ^ | 1-2-2015 | Tyler Durden

Posted on 01/02/2015 7:29:40 AM PST by blam

Tyler Durden
01/02/2015

Reading headlines and social media commentary in last night's thin trading, one could have been excused for thinking the collapse of global crude oil prices was over and a new renaissance had begun as 'watchers' proclaimed WTI's spurt above $55 (for a nanosecond) as indicative of the lows being in. However, just hours later, following weak European data (and a recognition of massively offside speculative positioning), WTI has collapsed over $3 from the highs and is testing towards a $51 handle.

(snip)

(Excerpt) Read more at zerohedge.com ...


TOPICS: News/Current Events
KEYWORDS: crude; economy; oil; opec; russia; saudiarabia; venezuela; wti

1 posted on 01/02/2015 7:29:40 AM PST by blam
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To: blam
5Y German Bond Yield Goes Negative For First Time Ever
2 posted on 01/02/2015 7:31:27 AM PST by blam (Jeff Sessions For President)
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To: blam

3 posted on 01/02/2015 7:33:57 AM PST by blam (Jeff Sessions For President)
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To: blam

Maybe that will defray some fo the 15 cents per gallon increase we just got in California due to Cap and Trade increase on January 1.


4 posted on 01/02/2015 7:37:24 AM PST by Rockitz (This is NOT rocket science - Follow the money and you'll find the truth.)
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To: blam

Looks like Saudi Arabia has a plan to shut down our wells. What is the US counter strategy going to look like?

Some fragmented plan to continue shutting down the pumps that cost too much to maintain. What happens from there?


5 posted on 01/02/2015 7:41:22 AM PST by shineon
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To: blam

I filled up the car yesterday- $22.00 instead of $45.00 . I guess you really can drill your way out of a shortage.

CC


6 posted on 01/02/2015 7:45:29 AM PST by Celtic Conservative (Tagline Constructon zone- low humor ahead)
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To: Rockitz

At the rate things are going, that 15¢ per gallon price increase in California may be erased very soon given how the price of crude oil is continuing to drop and drop.


7 posted on 01/02/2015 7:47:19 AM PST by RayChuang88 (Ferguson: put your hands down and go to work!)
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To: shineon

“Looks like Saudi Arabia has a plan to shut down our wells. What is the US counter strategy going to look like?”

I think the Saudis are pumping at the behest of the US. Why? To cause problems and instability for Russia, Venezuela, and maybe the NorKs.


8 posted on 01/02/2015 8:14:14 AM PST by Jack Hydrazine (Pubbies = national collectivists; Dems = international collectivists; We need a second party!)
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To: Jack Hydrazine
I think the Saudis are pumping at the behest of the US. Why? To cause problems and instability for Russia, Venezuela, and maybe the NorKs.

The Saudi's pumped less oil in 2014 than they did it 2013.

9 posted on 01/02/2015 9:33:33 AM PST by FreeReign
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To: Jack Hydrazine

Who, pray tell, in this administration would ask for that to happen?


10 posted on 01/02/2015 3:56:30 PM PST by Balding_Eagle (The Gruber Revelations are proof that God is still smiling on America.)
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