{"id":4163,"date":"2015-01-06T15:33:05","date_gmt":"2015-01-06T20:33:05","guid":{"rendered":"http:\/\/olduvai.ca\/?p=4163"},"modified":"2015-01-06T15:33:05","modified_gmt":"2015-01-06T20:33:05","slug":"oil-slides-below-48-dragging-tsx-down-another-120-points","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=4163","title":{"rendered":"Oil slides below $48, dragging TSX down another 120 points"},"content":{"rendered":"<h4 class=\"story-title\"><a href=\"http:\/\/www.cbc.ca\/news\/business\/oil-slides-below-48-dragging-tsx-down-another-120-points-1.2891181\" target=\"_blank\">Oil slides below $48, dragging TSX down another 120 points<\/a><\/h4>\n<p>The price of a barrel of oil continued its slide on Tuesday, losing almost $2 to trade below $48 US a barrel. The crude drop dragged energy stocks on the TSX lower too.<\/p>\n<p>The S&amp;P\/TSX Composite Index lost another 140 points to trade at 14,252, a day after shedding almost 400 points due largely to weakness in energy prices. The loonie sold off again, losing about 0.4 of a cent to 84.65 cents US.<\/p>\n<p>Oil has now lost well over 50 per cent of its value since last summer, when the price of a barrel of oil touched $107. Oil first dipped below $50 per barrel on Monday before recovering, and then capitulating below the line on Tuesday and showing no signs of stopping.<\/p>\n<p>Late in the trading day, the crude contract hit an almost six-year low of $47.56 a barrel.\u00a0&#8220;Fifty [dollars]\u00a0is a fairly important level from the standpoint that you&#8217;re really digging past many, many producers&#8217; marginal costs. So I think, psychologically, it&#8217;s a big number,&#8221; said Chris King, portfolio manager at Morgan, Meighen and Associates.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil slides below $48, dragging TSX down another 120 points The price of a barrel of oil continued its slide on Tuesday, losing almost $2 to trade below $48 US a barrel. The crude drop dragged energy stocks on the TSX lower too. The S&amp;P\/TSX Composite Index lost another 140 points to trade at 14,252, [&hellip;]<\/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":[2457,2459,1775,2458],"class_list":["post-4163","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-canadian-bitumen","tag-canadian-market","tag-oil-price-collapse","tag-tsx"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4163","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=4163"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4163\/revisions"}],"predecessor-version":[{"id":4164,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4163\/revisions\/4164"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}