{"id":40330,"date":"2018-11-09T09:05:26","date_gmt":"2018-11-09T14:05:26","guid":{"rendered":"http:\/\/olduvai.ca\/?p=40330"},"modified":"2018-11-09T09:05:26","modified_gmt":"2018-11-09T14:05:26","slug":"oil-slumps-below-60-to-8-month-lows-set-for-record-losing-streak","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=40330","title":{"rendered":"Oil Slumps Below $60 To 8-Month Lows – Set For Record Losing Streak"},"content":{"rendered":"
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Oil Slumps Below $60 To 8-Month Lows – Set For Record Losing Streak<\/span><\/a><\/h3>\n

WTI Crude is trading back below $60 for the first time since March (and Brent below $70)<\/strong> as Washington’s decision to\u00a0allow\u00a0eight countries to continue importing from Iran, which it slapped with sanctions earlier this week; as well as pledges by Saudi Arabia and other producers to pump more (as well as surges in American\u00a0supply\u00a0and\u00a0stockpiles), have turned fears of a supply crunch into talk of an oversupply.<\/strong><\/p>\n<\/div>\n

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This is the 10th down-day in a row…<\/p>\n

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Which if it holds, will be the longest losing streak in the history of the oil contract…<\/p>\n

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\u201cThe focus is on negative sentiment in oil and negative momentum,\u201d<\/strong><\/em> said\u00a0Giovanni Staunovo, a commodity analyst at UBS Group AG.<\/p>\n

\u201cIt\u2019ll be interesting to see if some stick with their shorts over the weekend with the OPEC meeting.\u201d<\/strong><\/em><\/p><\/blockquote>\n

Is it time for Energy stocks to catch down to reality?<\/p>\n

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And are inflation breakevens about to tumble?<\/p>\n

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On the bright side, is the American average joe about to get a ‘tax cut’ as his pump-price for gas is set to plummet…<\/p>\n

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Oil Slumps Below $60 To 8-Month Lows – Set For Record Losing Streak WTI Crude is trading back below $60 for the first time since March (and Brent below $70) as Washington’s decision to\u00a0allow\u00a0eight countries to continue importing from Iran, which it slapped with sanctions earlier this week; as well as pledges by Saudi Arabia […]<\/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":[426,588,592,1096,4318],"class_list":["post-40330","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-inflation","tag-oil","tag-oil-price","tag-wti-crude","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/40330","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=40330"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/40330\/revisions"}],"predecessor-version":[{"id":40331,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/40330\/revisions\/40331"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}