Oil Spill! Crude Collapses A Day After Sliding Into Another Bear Market

Wednesday was one of those days where deciding which asset to highlight is tough, because in one way or another, they're all saying the same thing. As we put it while documenting the collapse of the 2s10s to a 2007 low 8bps, "Today was brought to you by the letter ‘R', for 'recession'". (That's a Sesame Street nod, for anyone too young to recognize the reference.) A trio of rate cuts overnight from New Zealand, India and Thailand made clear that policymakers across the globe are on high aler

Join institutional investors, analysts and strategists from the world's largest banks: Subscribe today for as little as $7/month

View subscription options

Or try one month for FREE with a trial plan

Already have an account? log in

One thought on “Oil Spill! Crude Collapses A Day After Sliding Into Another Bear Market”

Perfect storm brewing in the shadows, i.e., all that oil production is linked to oil that has little value today … and will be worthless in 3 months +/-:

“The United States may now be the world’s biggest crude producer, but the oil being produced in its prolific Permian basin is increasingly too light in density for domestic refiners or for exports, eroding prices for these orphan barrels.”

https://www.reuters.com/article/us-usa-oil-permian/as-permian-oil-production-turns-lighter-price-outlook-darkens-idUSKCN1T71B7