The downward slide continues. Just in time for pre-Christmas employee headcount trimming.
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WTI is now at $57.17, down over 4%.
It’s below $58 this morning at 9:15. There’s so much oil being produced around the world and the there’s a general slowdown of the economy in China and other emerging countries. I can see oil going down into the low 50’s before long.
Oil is down to $58.69. Watch out below!
@3fhz, Don’t be a clown. Are you master of your own destiny or only a leaf blowing in the wind. Following your “get used to it” reply, I suppose you are the leaf. Poor philosophy on life you have, junior!
Woop de Frickin Do! It's up then it's down. It's up then down. Get used to it, junior!
One thing I can guarantee to you people who denigrate this country is that you will receive equal or twice the misfortune you wish on it. Call it Karma or anything else, but it will be yours. If you really hate this country, you are free to leave or be consumed by it. Your choice.
Its like the great depression of the oul industry.
From my point of view, the USA is in the middle of catastrophic collapse, it lost any credibility and respect everywhere. Loosing respect and credibility is the first sign of catasptrophy and the end of the project, called "the USA". This was not an empire or country, the" usa" WAS the instrument, tool and weapon of the henocide and bloodsucking from the rest of the world. And now this rusty weapon is no need, new era is coming... Forget the USA, it will be torn from inside, and will be eaten by itself...
“Oh wait... didn’t Chevron virtually get out of the gas business?”...ya totally out of gas, except being the largest liquid gas producer on the planet...totally out.
Commodities are down because the rich and wise need a buying opportunity to gobble them up before the market takes a significant dip. Buy low and sell high. People who are wealthy operate on long term cycles, not short term market swings. Buy commodities now and wait. The next market crash will come and commodities will soar. It takes captial and patience. Could be a month, a quarter, a year or several years. If you don't have the cash to bet long term, stay off of the playground. Pigs get slaughtered and those who can't afford to suffer through bad times go broke. Trust me, I learned the hard way. The last real money making opportunity was 2009. Another will come. In the words of J.D. Rockefeller, "the time to make money is when blood is running in the streets". True then; true now. You make money at the time of purchase. Most if not all profit relies on the acquisition of a bargin and holding until the time for sale is right. Capital and discipline wins the race.
Relax, the oil industry is going to be here for a long time. Light vehicle use is about all that is going to slowly and minimally convert to electric and other fuel sources barring some dramatic, world-changing transformative technology. Besides, well established, large oil and gas (energy) companies, the billionaire power brokers and wall street elite will likely buy up any significantly disrupting technology and repackage it so that they can continue to profit. The industry cycles and yes with that comes good times and bad. Large diversified petroleum companies can weather many a storm and so can good employees. The business is far from perfect, as are the leaders, managers, supervisors and employees. Quit with the fear and develop some fortitude. Don't fret, ride the tide and get on with life. If you are that worried about the financial cycles, get out of the market. find another career and ignore the news. Nothing new to see here.
Oh wait... didn’t Chevron virtually get out of the gas business?
Oil is down and might go lower. But natural gas is kicking a$$ again.
This industry is dying. As soon as the price goes up all the rogue producers crank up their production to make hay while the sun shines. You get an over-supply then oil drops again. Greed is good they say.
WTI is down for the 9th or 10th day. Commodities in general are trending down. No different than the correction seen in the stock market. It will go down then go back up. If you are long, stay put. It will rise again. It’s a matter of time.