U.S. oil tumbles 6.7% to a 17-month low in holiday-shortened day

[Litwin]

a bad day for putler ans his empire - gas station , will "ruSSia" survive 2019 , with oil low prices somewhere between 40 and 60 ?

"U.S. oil tumbles 6.7% to a 17-month low in holiday-shortened day "

https://www.marketwatch.com/story/o...ion-in-holiday-abbreviated-session-2018-12-24

 

[Tom Horn]

Which is it you are speaking of? Brent, Hardesty, Cushing, Urals, WTI Singapore? Contractuals or spots?
Some Canadians have been selling under contract at 75Cushing for the past three months. Last winter Boston gate gas spiked at 118 per thousand feet on spot.

 

[Litwin]

Which is it you are speaking of? Brent, Hardesty, Cushing, Urals, WTI Singapore? Contractuals or spots?
Some Canadians have been selling under contract at 75Cushing for the past three months. Last winter Boston gate gas spiked at 118 per thousand feet on spot.

today Brent went down 5%, my guess all other sorts went down a lot too :hm bad news for putler and his gas-station

 

[Hawkeye10]

today Brent went down 5%, my guess all other sorts went down a lot too :hm bad news for putler and his gas-station

One day changes of 7% of such an important ingredient to civilization is evidence that our economic system sucks.

This indicates that profiteers (skimmers/scammers) are at work.

A better system would drive out that sort.

 

[Tom Horn]

today Brent went down 5%, my guess all other sorts went down a lot too :hm bad news for putler and his gas-station

The US Energy department reports imported petroleum products amounts monthly. And if you hadn’t realized it by now, the Brent field has been shut down now for three months. Brent is a basket of comparable graded blends from nearby fields. My understanding is the Chinese economy went kaput from the trade war, so they don’t need the massive importation of oil through their urals pipelines like they used to. Meaning it’ll also pressure the Uzbeks and Kasistanis to seek income from other sources.

 

[Checkerboard Strangler]

The US Energy department reports imported petroleum products amounts monthly. And if you hadn’t realized it by now, the Brent field has been shut down now for three months. Brent is a basket of comparable graded blends from nearby fields. My understanding is the Chinese economy went kaput from the trade war, so they don’t need the massive importation of oil through their urals pipelines like they used to. Meaning it’ll also pressure the Uzbeks and Kasistanis to seek income from other sources.

The difference is, the Chinese can easily afford contractions twenty times this size, State owned command economy, Xi gives the order and suddenly everyone, including the wealthy, are back to one bicycle, one kid, one pair of drab pajamas and a hat...just like 1949.

The Chinese love "five year plans". We'd better hope their next five year plan isn't to starve America's Chinese manufacturing to death.

 

[DaveFagan]

a bad day for putler ans his empire - gas station , will "ruSSia" survive 2019 , with oil low prices somewhere between 40 and 60 ?

"U.S. oil tumbles 6.7% to a 17-month low in holiday-shortened day "

https://www.marketwatch.com/story/o...ion-in-holiday-abbreviated-session-2018-12-24

I hate to let air into an evacuated cerebellum, but WTI hit $44 today and the 11 million barrels per day of USA oil loses money near that price. Currency exchange rates and the fact that oil trades in USA dollars means Russia can make even money at about $30 per barrel or less. This just accelerates the stock market action. If you need any other bubbles popped in your fantasy land, just ask.
/

 

[Tom Horn]

I hate to let air into an evacuated cerebellum, but WTI hit $44 today and the 11 million barrels per day of USA oil loses money near that price. Currency exchange rates and the fact that oil trades in USA dollars means Russia can make even money at about $30 per barrel or less. This just accelerates the stock market action. If you need any other bubbles popped in your fantasy land, just ask.
/

Vermilion ( VET ) has some very nice hedging in place. At the current .1066 div it’s almost akin the owning your own wells.

 

[Xelor]

The tears of the world are a constant quantity. For each one who begins to weep somewhere else another stops. The same is true of the laugh.
-- Samuel Beckett, Waiting for Godot
​

(click the images to view the corresponding essays)​

To be honest, I don't assertively care about the impact of oil price fluctuations on Russia; however, I'm pleased that falling prices adversely affect its economy. Conversely, I do care about oil price volatility's effects on the US economy.

• Supply Flexibility in the Shale Patch:Evidence from North Dakota
• Report on the Blue Growth Strategy Towards more sustainable growth and jobs in the blue economy
• $50 Oil Puts Shale To The Test
• Yes, It Is Possible For Oil Prices To Be Too Low

As one can see from the above the matter of oil market equilibria variability portends to produce a pastiche of pernicious precipitates that troglyditically banal anthems akin to "price high, bad; price low, good" insufficiently summarize.

But you must not change one thing, one pebble, one grain of sand, until you know what good and evil will follow on that act. The world is in balance, in Equilibrium. A wizard's power of Changing and Summoning can shake the balance of the world. It is dangerous, that power...It must follow knowledge, and serve need.
-- Ursula K. Le Guin, A Wizard of Earthsea​

 

[Litwin]

One day changes of 7% of such an important ingredient to civilization is evidence that our economic system sucks.

This indicates that profiteers (skimmers/scammers) are at work.

A better system would drive out that sort.

everything is great with USA, economy whats really sucks , its economics of stats- gas stations, Like Venezuela , Muscovy, KSA, Nigeria etc.

 

[Litwin]

I hate to let air into an evacuated cerebellum, but WTI hit $44 today and the 11 million barrels per day of USA oil loses money near that price. Currency exchange rates and the fact that oil trades in USA dollars means Russia can make even money at about $30 per barrel or less. This just accelerates the stock market action. If you need any other bubbles popped in your fantasy land, just ask.
/

i am sure that you know that Muscovy needs 40$ + in order to exist , 30$ is a death call for the gas-station under sanctions

 

[Hawkeye10]

everything is great with USA, economy whats really sucks , its economics of stats- gas stations, Like Venezuela , Muscovy, KSA, Nigeria etc.

Now that Russia has teamed up with China China will step up with the required support if oil prices fall too low. China will not let members of the Empire fail, that would be bad for morale.

 

[Litwin]

Now that Russia has teamed up with China ...

only if Muscovy becomes part of china, which will happened and very soon

"After losing the Opium Wars, the Qing dynasty was forced to sign a series of treaties that gave away land and ports to the European powers; these were known as the Unequal Treaties. Starting with the Treaty of Aigun in 1858 and the Treaty of Peking in 1860, the Sino–Russian border was realigned in Russia's favor along the Amur and Ussuri rivers. As a result, China lost Outer Manchuria, and access to the Sea of Japan. "

https://en.wikipedia.org/wiki/Outer_Manchuria

 

[Tom Horn]

Now that Russia has teamed up with China China will step up with the required support if oil prices fall too low. China will not let members of the Empire fail, that would be bad for morale.

President Trump should sell California to Putin for 1.4 billion barrels of their Kamchatka oil reserves and 800 thousand ounces of gold. Think Vladimir would go for that?

 

[Hawkeye10]

President Trump should sell California to Putin for 1.4 billion barrels of their Kamchatka oil reserves and 800 thousand ounces of gold. Think Vladimir would go for that?

The "Save the Planet" people say that we need to :stop: burning oil, that it has to stay in the ground pretty much regardless of how much doing so degrades the quality of life of humans, so I think that idea is a non-starter.

 

[Tom Horn]

The "Save the Planet" people say that we need to :stop: burning oil, that it has to stay in the ground pretty much regardless of how much doing so degrades the quality of life of humans, so I think that idea is a non-starter.

But that oil isn’t under the ground. It’s under the ocean. Only costs 35 bucks a barrel to pump out.

 

[Eriech]

President Trump should sell California to Putin for 1.4 billion barrels of their Kamchatka oil reserves and 800 thousand ounces of gold. Think Vladimir would go for that?

Good idea. I have been for giving California back to Mexico but selling or trading to China would make more sense. The wall will need to be much longer after all....

Sent from my SM-G892A using Tapatalk

 

[DaveFagan]

i am sure that you know that Muscovy needs 40$ + in order to exist , 30$ is a death call for the gas-station under sanctions

When the USA sanctioned Russia it dropped the Ruble from 34 to a dollar to 70 to a dollar, so the Russiand get twice as much for their OIL as before the sanctions./

 

[Litwin]

"When the USA sanctioned Russia it dropped the Ruble from 34 to a dollar to 70 to a dollar, so the Russiand get twice as much for their OIL as before the sanctions./ " its your putler words, which is a total crap. you got twice poorer . in 2019 you will be twice poorer again , with other words, you mongols juchi will see 1991 or 1917 again in 2019

 

[Tom Horn]

Good idea. I have been for giving California back to Mexico but selling or trading to China would make more sense. The wall will need to be much longer after all....

Sent from my SM-G892A using Tapatalk

china has nothing the US needs. It’s just a **** stain on planet earth.