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| Economy |
| Oil near six-year low; Brent trades at par to U.S. crude |
| 2015-01-14 |
| Oil tumbled 5 percent to near six-year lows before recovering ground on Tuesday, and Brent briefly traded at par to U.S. crude for the first time in three months as some traders moved to take advantage of ample storage space in the United States. Traders were searching to store the glut of oil, which has knocked down prices 60 percent in the last six months. So far this week, Brent has lost 7 percent and U.S. crude 5 percent. Brent LCOc1 settled down 84 cents at $46.59 a barrel, after falling to $45.19, its lowest since March 2009. |
| Posted by:Fred |
| #4 When financial oligarchs start fighting, I just try to stay out of their way. |
| Posted by: Anguper Hupomosing9418 2015-01-14 23:57 |
| #3 OTOH see DEFENCE.PK/FORUMS > [Russia Today] OIL MUST STAY AT US$40.0 TO CURB US SHALE BOOM - GOLDMAN-SACHS. * Also from SAME > [Russia Today] US MANUFACTURING COMEBACK A "MYTH" - STUDY. Apparently Mine + Pert fears that the on-going rdux in the price of Oil-per-Barrel may or will NOT result in any new, LT or expanding US prosperity are on the nose??? |
| Posted by: JosephMendiola 2015-01-14 23:08 |
| #2 Made my Holiday trek markedly cheaper this year. Thanks to the wildcaters and guys* laboring in the field. * never seen any of them Social Justice Warrior types in the pics and vids of those Dakota et al drill sites. BTW, Intaprof had this chart this morning. |
| Posted by: Procopius2k 2015-01-14 09:22 |
| #1 To be enjoyed while we can. Folks will have more 'disposable income' and a result, they will travel more by automobile and buy more gas and oil, which produces more revenue from taxes paid per gallon. Profits from domestic oil production stay here in this country, which is a good thing. |
| Posted by: Besoeker 2015-01-14 07:00 |
