WTI Hits $52 Handle As US Rig Count Tumbles To 8-Month Lows

by Tyler Durden
ZeroHedge.com
12/29/2014

Just as T. Boone Pickens warned “watch the rig counts” last week, so the Baker Hughes rig countjust collapsed for the 3rd week in a row to 8-month lows. This is the fastest 3-week drop since mid-2009. Crude prices were already weak but the news has flushed WTI to a $52 handle (not seen in the front-month contract since May 2009)

The Rest…HERE

This entry was posted on Monday, December 29th, 2014 at 2:40 pm and is filed under Economics, Oil. You can follow any responses to this entry through the RSS 2.0 feed.