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Early November's plunge in crude oil prices

Phys251

Purge evil with Justice
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https://www.marketwatch.com/story/oil-prices-try-to-steady-after-12th-straight-drop-2018-11-14

“The dramatic selling across the oil markets in recent days has come to a brief pause” Wednesday, “but many remain stunned by the acceleration in aggressive momentum that has transpired over the past couple of sessions,” said Jameel Ahmad, global head of currency strategy & market research at FXTM.

“We have not seen such a disastrous day for the oil markets in terms of negative momentum like the one on Tuesday in around three years,” he said. However, “I think what we need to accept moving forward is that traders are waking up to the significant threat that slowing global growth in 2019 will weaken demand for commodities like oil.”

Is the sudden drop in crude oil prices just another fluctuation in the market or something long-term?
 
The constant massive price changes in such things as oil getting shoved in our face....that is the failures of our leaders getting shoved constantly in our faces...... is demoralizing.

A well designed system would not work this way.

We used to be better.
 
It might be an exaggerated response, but the general consensus does seem to be a global cooling-off of the economy in 2019.
 
It might be an exaggerated response, but the general consensus does seem to be a global cooling-off of the economy in 2019.

The economy is ripping and roaring right now in the US right now, hence the response from the Fed to raise interest rates.

The fed wouldn't keep raising interest rates if the economy is cooling down. The stock market is just adjusting to normal interest rates after several years of historically low interest rates.
 
It might be an exaggerated response, but the general consensus does seem to be a global cooling-off of the economy in 2019.

I'm worried that we may be headed for precisely that. If that happens, then buckle your seatbelt...
 
The economy is ripping and roaring right now in the US right now, hence the response from the Fed to raise interest rates.

The fed wouldn't keep raising interest rates if the economy is cooling down. The stock market is just adjusting to normal interest rates after several years of historically low interest rates.
I was speaking of the global economy. Oil is a globally used commodity. Though I believe the economic forecast is a bit slower for the States in 2019, too.
 
I'm worried that we may be headed for precisely that. If that happens, then buckle your seatbelt...

You are worried about lower gas prices at the pump?

Do you remember what happened in the 70s when the U.S was rationing? They had to make a law to reduce the speed limit to 55 mph.
 
You are worried about lower gas prices at the pump?

Do you remember what happened in the 70s when the U.S was rationing? They had to make a law to reduce the speed limit to 55 mph.

Oh yeah that worked SO well. :roll:
 
I'm worried that we may be headed for precisely that. If that happens, then buckle your seatbelt...
Well, the good news is: We managed to get rates up a bit, so we may have some room to stimulate.

The bad news, is: We decimated corporate tax revenue, so safety-nets and benefits are going to get hit.
 
Well, the good news is: We managed to get rates up a bit, so we may have some room to stimulate.

The bad news, is: We decimated corporate tax revenue, so safety-nets and benefits are going to get hit.

You make that sound like it’s a bad thing
 
Crude oil prices can fluctuate very fast. It will be back up to 75 by early 2019. Book it.

OPEC will cut production.

With fracking technology, the actions of OPEC are no longer a big deal.
 
It might be an exaggerated response, but the general consensus does seem to be a global cooling-off of the economy in 2019.

I would second that thought, seeing as it would be nice for a bit more cooling in the coming months.
 
Crude oil prices can fluctuate very fast. It will be back up to 75 by early 2019. Book it.

OPEC will cut production.
And that is a guaranteed fact.

The old saw that gasoline prices rose because of speculation turned out to be right on the mark: there's no sunlight between oil production manipulation and outright oil speculation.
 
You make that sound like it’s a bad thing
Oh it's a wonderful thing, if you like more homeless and starving people. Which, being Libertarian and Right Wing, you most likely do.

Social Darwinism and all that.
 
Oh it's a wonderful thing, if you like more homeless and starving people. Which, being Libertarian and Right Wing, you most likely do.

Social Darwinism and all that.

We’ve never had mass starvation in this country, the idea that people would be starving if not for the welfare state is laughably pathetic


Sent from my iPhone using Tapatalk
 
I would second that thought, seeing as it would be nice for a bit more cooling in the coming months.
In terms of interest rates not rising more, and not raising the general inflation rate or CPI, I agree. But I am very happy seeing a bit of rising wages.

I suppose I was one of the few that was happy with the calm, steady, Obama economy:

no inflation, low interest rates, steadily adding jobs, no drama
 
In terms of interest rates not rising more, and not raising the general inflation rate or CPI, I agree. But I am very happy seeing a bit of rising wages.

I suppose I was one of the few that was happy with the calm, steady, Obama economy:

no inflation, low rates, steadily adding jobs, no drama

Drama??? Wait till dereg in the financial services industry poop hits the fan!
 
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