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| Economy |
| Oil Collapses Close to $30 per Barrel |
| 2016-01-14 |
| [ALMANAR.LB] Oil dived Tuesday close to $30 on abundant crude supplies, as OPEC member Nigeria called for an emergency meeting to address collapsing prices that have ravaged revenues. In late afternoon deals, New York's benchmark West Texas Intermediate (WTI) for February delivery tanked to $30.10 a barrel, which was the lowest level since December 2, 2003. Europe's Brent North Sea crude for February had earlier dived to $30.43, a point last seen on April 6, 2004. |
| Posted by:Fred |
| #7 wouldn't hurt to double the US strategic reserve right now If history is any guide, they'll start SELLING out of the SPR about now. |
| Posted by: Glenmore 2016-01-14 08:42 |
| #6 Yep, wouldn't hurt to double the US strategic reserve right now. Posted by: Steve White Yes, an unnavigable Persian Gulf might alter the oil production picture somewhat. |
| Posted by: Besoeker 2016-01-14 08:31 |
| #5 Yep, wouldn't hurt to double the US strategic reserve right now. |
| Posted by: Steve White 2016-01-14 08:19 |
| #4 I want to see pix of Saudi children begging for food. |
| Posted by: g(r)omgoru 2016-01-14 03:16 |
| #3 Time to work on the strategic petroleum reserves. Maybe pay SA a bit more so they can continue to strangle Iran. |
| Posted by: gorb 2016-01-14 01:55 |
| #2 There's speculation by a number of Perts on the Net that oil prices could go as low as US$10.0 per barrel widout Govts. intervention. As per BHARAT RAKSHAK, Russia is prepping for a US$25.0 pb scenario. |
| Posted by: JosephMendiola 2016-01-14 01:49 |
| #1 Tain't ravaged ma revenues none. Jes' the opposite. |
| Posted by: Anguper Hupomosing9418 2016-01-14 00:22 |