{"id":2650,"date":"2014-12-08T11:54:58","date_gmt":"2014-12-08T16:54:58","guid":{"rendered":"http:\/\/olduvai.ca\/?p=2650"},"modified":"2014-12-08T11:57:02","modified_gmt":"2014-12-08T16:57:02","slug":"oil-prices-collapse-to-new-cycle-lows-canada-heavy-tumbles-under-50-zero-hedge","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=2650","title":{"rendered":"Oil Prices Collapse To New Cycle Lows, Canada Heavy Tumbles Under $50 | Zero Hedge"},"content":{"rendered":"

Oil Prices Collapse To New Cycle Lows, Canada Heavy Tumbles Under $50 | Zero Hedge<\/a>.<\/p>\n

The crude carnage continued overnight\u00a0<\/strong>with oil prices across the entire complex crashing through support to new cycle lows. Despite recent strategic reservce demand in China, the world’s oil glut continues as global growth expectations plunge leaving WTI trading as low as $64.10, Brent $66.77 (narrowing the Brent-WTI spread to $2.68 from $3.23 on Friday), and most stunning of all, Canada Heavy as low as $49.24. Speculators and money managers appear to be BTFD as theyincreased net long positions<\/strong>\u00a0last week (amid the price slump) but comments from\u00a0Kuwait Petroleum’s CEO and Iran officials suggest ‘lower for longer’ on prices<\/strong>\u00a0will be the norm. As Morgan Stanley notes,\u00a0“with OPEC on the sidelines, oil prices face their greatest threat since 2009 and appear on track for an extremely volatile 2015”<\/em><\/strong><\/p>\n

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WTI has retraced the entire dead-cat-bounce from last Monday…<\/p>\n

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Not pretty…<\/p>\n

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…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

Oil Prices Collapse To New Cycle Lows, Canada Heavy Tumbles Under $50 | Zero Hedge. The crude carnage continued overnight\u00a0with oil prices across the entire complex crashing through support to new cycle lows. Despite recent strategic reservce demand in China, the world’s oil glut continues as global growth expectations plunge leaving WTI trading as low […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[184,1765,592,1766,1767],"class_list":["post-2650","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-crude-oil","tag-global-grwowth","tag-oil-price","tag-oil-price-decline","tag-oopec"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2650","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2650"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2650\/revisions"}],"predecessor-version":[{"id":2652,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2650\/revisions\/2652"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2650"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2650"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}