‘Lights Out’: Oil And Gas ‘Suddenly Becomes A Hobby’
Sheer chaos in crude has managed to slam the brakes on what's still generally being described as a "bear market rally" in stocks off the March lows.
US equities have fallen nearly 5% in the new week after gaining some 15% over the previous nine sessions. Tuesday's one-day decline was the largest in three weeks.
But the story isn't stocks right now. It's oil. June WTI futures fell below $10 on Tuesday. CME said the contract was halted several times for volatility. The plunge underscores the ext
I want believe that you closed this article with reference to Walter Sobchak.
Over the line!!!!
While the oil gangsters falling out happened “before Covid19”, it was noted in earlier H posts that demand destruction was completely predictable.
Certainly geo-realpolitik is at play too, but oil usage is of course related to pandemic lockdowns and the current economic Depression is also related to credit/currency crunches.
There is no normal, plan accordingly.
To ‘save’ the energy markets we would have to monetize the markets with a massive subsidy and harsh tariffs, effectively picking winners and losers. With the size of the energy markets it seems impossible to think that the US government can monetize it. Or am I being too pessimistic?
Oil beat Bitcoin to zero. Who’d have thunk?
“The Chinese government must take the necessary steps to remain in good standing with the US as a trusted trade partner”.
Clowns to the right and clowns to the left! I live in Alaska and this oil thing is going to be devastating in that we are not out of the last local recession (2014) yet and have done absolutely nothing forward looking; we’ve been hanging on the oil teat far too long and spending as if something like this would never happen. Along with that, Alaska is red on red in red politically and thus anything that walks like a tax is assassinated during its first step. But I believe it’s going to be one of the best things that’s happened in my 50+ years here – a giant toilet flush. It turns out that there are actually going to be some ‘good’ things wrung from all this.