‘Every Month It’s Something New’: More Bad News For Oil As IEA Report Flags Supply Woes
Oil probably could have done without any more bearish headlines, but you know what they say about "when it rains"...
On Wednesday, the EIA data confirmed Tuesday afternoon's bullish API print, but it didn't matter. There was a pop and then it was promptly faded.
Let's pull back on that chart a bit for some perspective:
Basically, crude is having a really hard time sustaining a rebound from the bear market into which it plunged late last month and the most unnerving thing about this for th
The rise of the zombie army part deux
https://www.bloomberg.com/news/articles/2017-07-13/fear-of-bankruptcy-spreads-from-u-s-energy-stocks-to-junk-bonds
“Many of them said the 2014 price bust, when West Texas Intermediate lost more than half its value in seven months, winnowed the weakest companies. But according to the numbers, traders have concluded that there’s more culling to come.
“People are thinking, ‘OK, this company may not actually make it,’” said Spencer Cutter, a Bloomberg Intelligence analyst. “Then you start to see the bonds begin to trade like equity.”