WTI Crashes To $57 Handle; 80% Of Shale Production Non-Economic

Friday, December 12, 2014
By Paul Martin

by Tyler Durden

WTI Crude just burst below $58 and is now over 46% below the peak in June. Since the initial leaks of no production cuts at OPEC, WTI is down 25% (gold and silver are up 2-4%). At these levels only 4 of the US 18 Shale Oil regions remain economic… HY Energy credit has smashed wider to 980bps and the broad HY yield and spread markets are starting to bleed.

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