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Cinnamon

US oil plunges 6.7%, closes below $27 a barrel

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 Cinnamon    14,674

U.S. oil recorded its worst settlement since May 2003 on Wednesday, caught in a broad slump across world financial markets with traders also fearful that the crude supply glut could last longer.

U.S. benchmark West Texas Intermediate (WTI) prices for February delivery settled at $26.55 a barrel, down $1.91, or 6.71 percent, up slightly from an intraday low of $26.19, its weakest price since May 2003. The February contract expired Wednesday.

<snip>

http://www.cnbc.com/2016/01/19/oil-prices-fall-further-on-glut-worries-us-crude-slumps-below-28.html

Getting close to that 23.00 mark @Ukshep

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 Ukshep    13,372
Just now, Cinnamon said:

U.S. oil recorded its worst settlement since May 2003 on Wednesday, caught in a broad slump across world financial markets with traders also fearful that the crude supply glut could last longer.

U.S. benchmark West Texas Intermediate (WTI) prices for February delivery settled at $26.55 a barrel, down $1.91, or 6.71 percent, up slightly from an intraday low of $26.19, its weakest price since May 2003. The February contract expired Wednesday.

<snip>

http://www.cnbc.com/2016/01/19/oil-prices-fall-further-on-glut-worries-us-crude-slumps-below-28.html

Getting close to that 23.00 mark @Ukshep

Not long now...

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1 hour ago, Ukshep said:

Not long now...

B.b.b.but, Shep, the teevee says it's just a market correction. No meltdown. Nah.

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 Ukshep    13,372
1 minute ago, grav said:

B.b.b.but, Shep, the teevee says it's just a market correction. No meltdown. Nah.

They might be right... but what i know is once it hits 23 its my signal to spend my emergency fund on supplies. If it fails then i got free food for years... if it dont then im prepared!

Fuel drop just finally started to hit us in the uk..... it was 1.15£ a litre last week. its now 0.98£

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11 minutes ago, Ukshep said:

They might be right... but what i know is once it hits 23 its my signal to spend my emergency fund on supplies. If it fails then i got free food for years... if it dont then im prepared!

Fuel drop just finally started to hit us in the uk..... it was 1.15£ a litre last week. its now 0.98£

Why is 23 your trigger?

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 Ukshep    13,372
1 minute ago, grav said:

Why is 23 your trigger?

Few pieces of info i have....i've hinted at it time and again here... but its an fav number of the elite and its also a signal for others..... what you may see when it hits 23 is lots more focus on it.... others will start vanishing or preparing....

23 is not when its gunna go down.... its just a nice number so you have time to prepare and get ready... from what i have 23 is the hint.... it will drop below 20 and then will come some new regulation or law or effort to prop it up.... once that happens time is limited... its only a stopgap.

If this all goes down who knows! but im going to take precautions.

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 DarkKnightNomeD    1,612

Gas has started FINALLY dropping where I'm at, it really should be another 10 to 20 cents lower than it is now.

If I see anything I will probably, most likely wind up putting it in the Economic Collapse thread, so keep an eye on that as well.

Edited by DarkKnightNomeD

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 Brio    1,038

We're at 97 cents a litre, just under $4 per gallon. It's nice but I don't see a dramatic increase in my disposable income for paying $40 to fill my car every other week rather than $50. I won't be going on a cruise or buying a new teevee for low petrol prices.

What I do see is a lot of Albertans coming here for work. That's fine, we have mining and forestry and the pipelines may not be so eager to invest in destroying the Pacific coastline. This is what Enbridge says Kitimat Harbor is like (they want supertankers in there to ship out bitumen) and what Kitimat Harbor actually looks like.

http://d3n8a8pro7vhmx.cloudfront.net/broadbent/legacy_url/10492/enbridge-map.jpg?1431295575

Put a supertanker in there? Really?

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 rbear    240
7 hours ago, Ukshep said:

Few pieces of info i have....i've hinted at it time and again here... but its an fav number of the elite and its also a signal for others..... what you may see when it hits 23 is lots more focus on it.... others will start vanishing or preparing....

23 is not when its gunna go down.... its just a nice number so you have time to prepare and get ready... from what i have 23 is the hint.... it will drop below 20 and then will come some new regulation or law or effort to prop it up.... once that happens time is limited... its only a stopgap.

If this all goes down who knows! but im going to take precautions.

 

Germans—and all European Union nationals—might be burdened with a special extra “refugee tax” on every liter of gasoline they put in their cars in order to pay for Angela Merkel’s nonwhite invader hordes, Germany’s Foreign Minister Wolfgang Schäuble has announced.

 

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