price of oil is insane
Insane barely scratches the surface. Every barrel of oil brought to market at that price costs the producers at least $15 more than the spot price. No rational person would keep their business open just to make bigger and bigger losses on every widget that they make. Stubbornly sticking to not cutting production in this environment is a decision that belongs right up there next to Pharaoh not letting the Jews leave during the first 9 plagues.
Yet PM are also down. Might be a case of liquidating whatever is available.
Tell the guy who is looking to buy gold bullions
It's the old adage of making up for the losses with volume...
What if the goal is to crush the US oil industry?
I don't think that's the goal at this point.
I would not put anything pass Russia.
You can say many things about Putin, but he’s no fool. Yes a lot of the shale patch is likely to shut down, but he knows once prices recover it will be back. IINM Russian extraction costs are on the low end. Also this might just be his way of printing money.
Stock market floor to be closed. Will shift to all electronic trading.
Stupid question? Why do we need a market floor at all these days?
Why is Silver tanking if so many dollars are printed?