And there was much rejoicing in the land.... Gas Prices

[Sgt Beavis]

The coming financial apocalypse For US Shale

http://www.businessinsider.com/the-oil-industry-will-suffer-if-prices-stay-low-2015-6

[Denny]

The coming financial apocalypse For US Shale
http://www.businessinsider.com/the-o...tay-low-2015-6

Sadly, I'm going to side with Citigroup's estimates on this one.

[Strychnine]

The coming financial apocalypse For US Shale
http://www.businessinsider.com/the-o...tay-low-2015-6

Business Insider is slow on the draw lol. They must be too busy re-re-reposting clickbait shit on their FB feed.
Bloomberg wrote basically the same article with the same quotes and referencing the same companies over a week ago.

[Denny]

Business Insider is slow on the draw lol. They must be too busy re-re-reposting clickbait shit on their FB feed.
Bloomberg wrote basically the same article with the same quotes and referencing the same companies over a week ago.

You could have just said "repost," Craig.

[Baron Von Crowder]

You could have just said "repost," Craig.

boosh!

[Strychnine]

United Airlines Investing $30 Million in Biofuels Producer

By DAVID KOENIG AP Airlines Writer
Jun 30, 2015, 2:04 PM


United Airlines says it is investing $30 million in a biofuels company to reduce its vulnerability to oil-price shocks and limits on carbon emissions from planes.

United officials said Tuesday that they expect to begin receiving fuel from Fulcrum BioEnergy Inc. in 2018 and could be taking 90 million gallons a year by 2021.

That's enough fuel for 20,000 flights a year but just a drop in United's fuel bucket. The nation's second-biggest airline burned 3.9 billion gallons last year, including United Express flights.

United officials declined to disclose the airline's ownership stake in privately held Fulcrum, but the investment is a tiny fraction of United Continental Holdings Inc.'s $1.1 billion profit last year

..

[Denny]

United just wants some press time.

[Strychnine]

Rig count came out a day early this week b/c of the holiday...


US rig count this week: +3

But bigger new is the breakdown. Gas directed rigs were -9 last week, but oil directed rigs in the US were +12

[Broncojohnny]

I think we need bankruptcy to wipe out some of the players to remove capacity from the system. Otherwise prices aren't coming back up. Problem is that with low interest rates a lot of these guys can go on forever.

[Ruffdaddy]

Aww yeah keep em coming!!!

[Broncojohnny]

WTI down 6.6%, tighten down yer jock strap

[streetdemon70]

whats the cause for the latest drop?

[Strychnine]

whats the cause for the latest drop?

"new Iranian supply
possible Greece contagion in Europe
Chinese growth uncertainty"

After Doing This Math, It's hard To See How Crude Doesn't Trade Lower





Not many people realize OPEC is producing 32.1mmbpd - the market knows they are producing over their quota, but most people are assuming OPEC does about 30.5mmbpd. Add in more than expected Iranian production and demand uncertainties from China and Greece, and the math flushes out a 2016 supply imbalance of 2.3mmbpd at a glance.

Recall that about a 2mmbpd imbalance sent oil prices down 50%+ in 2014.

The table above presents some scary math that we think traders are starting to do.

[Broncojohnny]

whats the cause for the latest drop?

Old fashioned pants shitting fear

[Strychnine]

Old fashioned pants shitting fear

And that.