Oil

Copper & Crude Carnage Continues

Monday, August 17, 2015
By Paul Martin

by Tyler Durden ZeroHedge.com 08/17/2015 Perhaps at the margin, weak Japanese GDP – as it heads for a quintuple-dip recession – could be today’s catalyst but both crude and copper prices are re-tumbling this morning, pressing cycle lows. The USDollar is drifting higher and dos not appear a major driver today. However, broadly speaking... »

‘Everybody is waiting for doomsday’ in Texas

Sunday, August 16, 2015
By Paul Martin

MYLES UDLAND BusinessInsider.com Aug. 16, 2015 Oil prices are at a six-year low, and almost nowhere is the pain being felt more than in Texas. This weekend, The New York Times published a great look at how the crash in oil prices has impacted the economic fortunes of Karnes County, Texas. Karnes County is... »

Why Crude Oil’s Carnage Has Only Just Begun

Friday, August 14, 2015
By Paul Martin

by Tyler Durden ZeroHedge.com 08/14/2015 If crude’s slump back to a six-year low looks bad, Bloomberg notes that it’s even worse when you reflect that summer is supposed to be peak season for oil, and “it will get more so as refiners go into maintenance.” The Rest…HERE Share on Facebook »

The Price Of Oil Is Collapsing Again: Economic Armegeddon Coming – Dave Kranzler

Friday, August 14, 2015
By Paul Martin

TheNewsDoctors.com Thu, Aug 13th, 2015 An increase in the quantity of money and fiduciary media will not enrich the world. … Expansion of circulation credit does lead to a boom at first, it is true, but sooner or later this boom is bound to crash and bring about a new depression. Only apparent and... »

Oil Trades Under $42 To 6 Year Lows, Gundlach Sees “Terrifying Geopolitical Consequences” Looming

Thursday, August 13, 2015
By Paul Martin

by Tyler Durden ZeroHedge.com 08/13/2015 For the first time since March 2009, the front-month WTI crude futures contract has traded with a $41 handle. As it draws ever nearer the 2009 lows, we are reminded of the ominous warnings that DoubleLine’s Jeff Gundlach issued in January. - “I hope it does not go to... »

Canadian Oil Benchmark Falls Off A Cliff

Thursday, August 13, 2015
By Paul Martin

By Matt Smith OilPrice.com Thu, 13 August 2015 Third time is a charm as China has reset its currency peg for a third day on the trot. The law of diminishing returns means markets are somewhat insulated from the fear factor of a third day of currency devaluation, while financial markets put on their... »

How Do You Spell ‘Desperation’?…”Buckle up folks; this is going to get interesting”

Wednesday, August 12, 2015
By Paul Martin

by Karl Denninger Market-Ticker.org 2015-08-12 So China thinks that devaluing its currency, allegedly as a “one time” move, will help them eh? They also promise to make the currency market-based (in exchange rate) going forward? Then why not just drop the crap and allow it to be freely convertible — and quotable? See, it’s... »

The Great Unwind Has Begun, Bankruptcies Soar…”A year that “makes false prophets” of those who assumed there’d be no shocks.”

Saturday, August 8, 2015
By Paul Martin

by Wolf Richter WolfStreet.com August 7, 2015 The junk-bond market lost money in July. Not a lot, 0.62%. But it did so after having already lost money in June. It was the third losing month so far this year, despite their “high” coupon payments that make these bonds look so juicy to yield-desperate fund... »

WTI Crude Breaks To $43 Handle After Another Rise In Oil Rig Count (To 3 Month Highs)

Friday, August 7, 2015
By Paul Martin

by Tyler Durden ZeroHedge.com 08/07/2015 Having hovered around the $43/$44 level all morning, new from Baker Hughes that the oil rig count in the US rose 6 to 670 (its highest in over 3 months) has sent it back down to a $43 handle… *U.S. OIL RIG COUNT UP 6 TO 670, BAKER HUGHES... »

End of Wealth: Raw Materials Crisis Hits Saudi Arabia, Rich OPEC Countries

Friday, August 7, 2015
By Paul Martin

SputnikNews.com 07.08.2015 Saudi Arabia is planning to issue government bonds amounting to 27 billion dollars. The country is experiencing a loss of revenue due to the fall in oil prices. The raw materials crisis has now reached the rich OPEC countries, DWN reported. Thus, Saudi Arabia has to take corresponding financial measures to counteract... »

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