GREY:LSTMF - Post by User
Post by
highrider1on Jan 06, 2015 11:06am
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Post# 23289505
OIL IN FREEFALL
OIL IN FREEFALL Looks like the price of oil has really started to freefall now. Lately she has started to fall more quickly again and another new low again today. Down into the $48's now as seen below.
The big question is how long can LTS keep her head above water at these prices. Right now it looks like the price could head into the $ 30's they way it is dropping. With more oil being pumped out from the world countries in 2015 then of course the oil glut is going to get worse ... not better.
The Saudis are serious about getting rid of the frackers .... if it takes 6 months ... 1 year .... or longer. They will keep the price down low enough and long enough to prevent the frackers from being able to make a profit.
So this oil price now could end up being the new norm for years to come. I doubt very much whether they will let it rise back up to where the frackers get back into the picture again.
NYMEX Crude Oil (Near Future) As of 06 Jan 2015 at 10:54 AM EST.