What’s important to remember here, lads, is we’re permitting Iranian crude to come back onto the markets now–because they’ve earned it by capturing our vessels, taking our navy crewmen in custody, albeit temporarily, and agitating a ‘student mob’ to burn down the Saudi Arabian embassy in Tehran.
Oh, they’ve also promised to stop trying to make those devilish nuclear bombs.
Dow future are hitting the rocks.
Both WTI and Brent are lower between 3.5 to 5%, under $30 per barrel.
The key theme for 2016 will be real fundamental adjustments that can rebalance markets to create the birth of a new bull market, which we still see happening in late 2016,” Goldman said in a report.
Others were more concerned about the impact of new exports from Iran. While experts warned that not all sanctions may be lifted immediately once the agreement on its nuclear program came into effect, any additional oil would add to a glut that has pushed prices into a deep slump since mid-2014.
“In the very short term, another price drop cannot be excluded in particular after sanctions against Iran are being lifted,” Commerzbank analyst Carsten Fritch told Reuters Global Oil Forum.
“That means a drop toward $25 is quite possible, but not much lower than that.”
The end is now.
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Mrs. Yellen will be enjoying a fiber rich breakfast this morning before her proctologist appointment.
After that it will be a quick glance at the WSJ hard copy. She will LOL at the headlines and look at her job market. This will be followed by a mid morning walk in the garden.
Lunch will be a grilled cheese and tomatoed soup. Will be followed by a nap before her neurologist appointment in the afternoon.
Her bed timed ritual will begin at 4 o clock sharp with a glass of warm milk followed by a few chapters of Go set a watchman.
It’s not an elevator. It doesn’t just go up and down.
The Iranians have wanted our love and forgiveness for decades. Our ass-hole American Oil and Petrochemical Fathers have shunned them at the expense of our economy, national security and self respect.
The Saudis have been a terrible liability and fooled us into believing they rule the middle-east and that they are the center of a modern Muslim world.
Did someone say sell all rallies?
I think it was JPM…or perhaps RBC
Forgot to sell yesterday doh
So much for the rally….NOT
I found a rare picture of today’s rally: http://i.imgur.com/VXRqHQB.jpg