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Post By Backdock & Dnari131
Backdoc: ARE WE SURPRISED? AHHHH NOOOOO -- IT HAS BEGUN!
dnari131 wrote: Brent crude falls to lowest since 2008
Posted on December 11, 2015 | By Bloomberg
Ty Wright / Bloomberg Samson Resources Corp.
Aggregate debt: $4.3 billion
Oil declined to the lowest level since 2008 in London amid estimates that OPEC’s decision to effectively scrap production targets will keep the market oversupplied.
~~~
Post By Backdock & Dnari131
Backdoc: ARE WE SURPRISED? AHHHH NOOOOO -- IT HAS BEGUN!
dnari131 wrote: Brent crude falls to lowest since 2008
Posted on December 11, 2015 | By Bloomberg
Ty Wright / Bloomberg Samson Resources Corp.
Aggregate debt: $4.3 billion
Oil declined to the lowest level since 2008 in London amid estimates that OPEC’s decision to effectively scrap production targets will keep the market oversupplied.
~~~
Brent futures declined as much as 2.1 percent for a sixth consecutive loss. The global surplus will persist at least until late 2016 as demand growth slows and the Organization of Petroleum Exporting Countries shows “renewed determination” to maximize production, the International Energy Agency said Friday. The group chose not to curb output at its Dec. 4 meeting.
Oil prices have slumped to levels last seen during the global financial crisis as a result of OPEC’s strategy to defend market share against higher-cost producers. The group’s production rose to a three-year high in November, it said in a report Thursday, as surging Iraqi volumes more than offset a pullback by Saudi Arabia.
“Too much oil is being produced at the moment,” analysts at Commerzbank AG led by Eugen Weinberg in Frankfurt said in a report. “There is unlikely to be any kind of ‘happy ending’ for oil prices this year.”
OPEC Supply
Brent for January settlement declined as much as 83 cents to $38.90 a barrel on the London-based ICE Futures Europe exchange, the lowest since Dec. 31, 2008, and traded for $39.13 a barrel at 11:42 a.m. local time. It has decreased 9.2 percent this week. The European benchmark crude was at a premium of $2.82 to WTI.
West Texas Intermediate for January delivery was at $36.32 a barrel on the New York Mercantile Exchange, down 44 cents. The contract dropped 40 cents to $36.76 on Thursday, the lowest close since February 2009. The volume of all futures traded was about 29 percent above the 100-day average.
OPEC is displaying hardened resolve to maintain sales volumes even as prices fall in an oversupplied market, the IEA said Friday in its monthly report. While its policy is hitting rivals, triggering the steepest drop in non-OPEC supply since 1992, world oil inventories will likely swell further once Iran restores exports on the completion of a deal to lift sanctions, it said.
Spending Cuts
ConocoPhillips will reduce capital spending by 25 percent next year to protect the highest dividend yield among major U.S. producers, the Houston-based company said Thursday.
Its plan to cut spending to $7.7 billion comes a day after Chevron Corp. disclosed a 2016 budget 24 percent smaller than this year’s. Together, the reductions by the two companies totaled $10.9 billion, enough to rent 10 deepwater drilling rigs every day for more than half a decade.
Russia is preparing for the possibility that low crude prices are here to stay as competition between oil and other fuels such as natural gas intensifies. The nation sees no reason for crude to rise above $50 a barrel anytime soon and predicts it will remain in a $40 to $60 range over the next seven years, Deputy Finance Minister Maxim Oreshkin said at a Moscow conference organized by Vedomosti.
Seventeen of 30 analysts and traders, or 57 percent, were bearish on WTI in a Bloomberg survey Thursday. Five respondents were bullish while eight were neutral.
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Post by backdoc » December 11th, 2015, 2:13 pm:
LOOKS LIKE THE SAUDIS MAY HAVE STOLEN SOME OF IRANS OIL MARKET CONTRACTS! MMMMM
AS I'VE BEEN TRACKING FOR A LONG TIME NOW THE BOND MARKET IS GETTING WEAK AT THE KNEES! THE JUNK BOND MARKET IS IN TROUBLE.
ALREADY ONE FIRM IS ALREADY HALTING REDEMPTIONS PER CNBC! I LOOK FOR THIS TO SPREAD QUICKLY INTO NEXT WEEK AT THE FED MTG.
THE TWO BUDGETS, IRAQ AND THE U.S. ARE INSEPARABLY LINKED NOW AS WE HEAD INTO THE ASSET BACKED YEAR 2016!
AS I'VE SAID FOR SOME TIME NOW LOOK FOR OIL TO MAKE ITS FINAL PLUNGE AS MARKETS CRASH IN THE COMING DAYS! DOC IMO
~~~~~
dnari131 wrote: Congress in final-stage talks on massive budget, tax bills
DECEMBER 11, 2015, 9:31 AM LAST UPDATED: FRIDAY, DECEMBER 11, 2015, 11:19 AM BY ERICA WERNER
“Too much oil is being produced at the moment,” analysts at Commerzbank AG led by Eugen Weinberg in Frankfurt said in a report. “There is unlikely to be any kind of ‘happy ending’ for oil prices this year.”
OPEC Supply
Brent for January settlement declined as much as 83 cents to $38.90 a barrel on the London-based ICE Futures Europe exchange, the lowest since Dec. 31, 2008, and traded for $39.13 a barrel at 11:42 a.m. local time. It has decreased 9.2 percent this week. The European benchmark crude was at a premium of $2.82 to WTI.
West Texas Intermediate for January delivery was at $36.32 a barrel on the New York Mercantile Exchange, down 44 cents. The contract dropped 40 cents to $36.76 on Thursday, the lowest close since February 2009. The volume of all futures traded was about 29 percent above the 100-day average.
OPEC is displaying hardened resolve to maintain sales volumes even as prices fall in an oversupplied market, the IEA said Friday in its monthly report. While its policy is hitting rivals, triggering the steepest drop in non-OPEC supply since 1992, world oil inventories will likely swell further once Iran restores exports on the completion of a deal to lift sanctions, it said.
Spending Cuts
ConocoPhillips will reduce capital spending by 25 percent next year to protect the highest dividend yield among major U.S. producers, the Houston-based company said Thursday.
Its plan to cut spending to $7.7 billion comes a day after Chevron Corp. disclosed a 2016 budget 24 percent smaller than this year’s. Together, the reductions by the two companies totaled $10.9 billion, enough to rent 10 deepwater drilling rigs every day for more than half a decade.
Russia is preparing for the possibility that low crude prices are here to stay as competition between oil and other fuels such as natural gas intensifies. The nation sees no reason for crude to rise above $50 a barrel anytime soon and predicts it will remain in a $40 to $60 range over the next seven years, Deputy Finance Minister Maxim Oreshkin said at a Moscow conference organized by Vedomosti.
Seventeen of 30 analysts and traders, or 57 percent, were bearish on WTI in a Bloomberg survey Thursday. Five respondents were bullish while eight were neutral.
http://ift.tt/1J0E1gM
Post by backdoc » December 11th, 2015, 2:13 pm:
LOOKS LIKE THE SAUDIS MAY HAVE STOLEN SOME OF IRANS OIL MARKET CONTRACTS! MMMMM
AS I'VE BEEN TRACKING FOR A LONG TIME NOW THE BOND MARKET IS GETTING WEAK AT THE KNEES! THE JUNK BOND MARKET IS IN TROUBLE.
ALREADY ONE FIRM IS ALREADY HALTING REDEMPTIONS PER CNBC! I LOOK FOR THIS TO SPREAD QUICKLY INTO NEXT WEEK AT THE FED MTG.
THE TWO BUDGETS, IRAQ AND THE U.S. ARE INSEPARABLY LINKED NOW AS WE HEAD INTO THE ASSET BACKED YEAR 2016!
AS I'VE SAID FOR SOME TIME NOW LOOK FOR OIL TO MAKE ITS FINAL PLUNGE AS MARKETS CRASH IN THE COMING DAYS! DOC IMO
~~~~~
dnari131 wrote: Congress in final-stage talks on massive budget, tax bills
DECEMBER 11, 2015, 9:31 AM LAST UPDATED: FRIDAY, DECEMBER 11, 2015, 11:19 AM BY ERICA WERNER
The U.S. Capitol
WASHINGTON (AP) — Lawmakers and the White House are rushing to finalize a $1.1 trillion government-wide spending bill and a sprawling tax package touching all sectors of the economy, then head home for the holidays.
Dozens of issues remain unresolved, mainly policy disputes over environmental and other issues that lawmakers of both parties are trying to attach to the must-pass spending legislation. Republicans are seeking to lift the oil export ban and roll back various Obama administration regulations; Democrats are maneuvering to protect President Barack Obama's environmental rules and enact permanent tax credits for wind, solar and other renewable energy.
"We're not going to get everything we want in negotiations. The Democrats aren't going to get everything they want in negotiations," House Speaker Paul Ryan, R-Wisconsin, told reporters Thursday. "But I believe that we will successfully complete these negotiations."
Under current law, government funding expires Friday at midnight, when the last short-term spending bill expires. The Senate agreed by voice vote and without debate Thursday to extend that deadline through Wednesday Dec. 16 to allow more time for talks. The House was expected to follow suit Friday, but Ryan allowed that even more time might be needed.
"I'm not going to put a deadline on it," he said. "I want to make sure that these negotiations are done well and done right, and not by some arbitrary deadline."
Earlier, Ryan assured lawmakers from Northeastern states that legislation extending health benefits and a compensation fund for 9/11 first responders would be made part of the spending bill.
The spending legislation, which funds the government through the 2016 budget year, has become increasingly intertwined with the tax bill, which could deliver a political victory for both sides.
Uncertainty remained as to whether lawmakers would pull off a major tax bill with permanent extensions benefiting both sides, or simply opt for a two-year extension of existing tax breaks. With Congress' legislative year drawing to a close, lawmakers were eager to finalize their work and head home for the holidays.
"Everything is tenuous right now. We've had meetings, there's no finality," Senate Minority Leader Harry, D-Nev., said late Thursday. He said sticking points relate to labor and environmental issues, and a campaign finance provision pushed by his Republican counterpart, Majority Leader Mitch McConnell of Kentucky, to lift certain spending limits by party committees.
The two-year budget and debt deal passed earlier this year set the overall spending levels, but that left it up to the powerful Appropriations Committee to allocate the money ahead of the deadline for a partial government shutdown. The final areas of contention are the so-called "riders," the policy issues that lawmakers like to add to must-do bills.
Sen. Barbara Mikulski of Maryland, top Democrat on the Senate Appropriations Committee, said negotiators were down to about 40 riders after starting with 202. She contended Democrats proposed just a few, "and ours were very reasonable."
House Democrats, who've sought to draw attention to their push for gun control legislation in the wake of recent mass shootings, emphasized a new demand during the day as they announced their opposition to any bill that doesn't undo a longstanding provision that has been interpreted to block the Centers for Disease Control from conducting research on gun violence.
"My understanding from them is they need Democratic votes to pass it. So we will have to come to terms to do that," said House Minority Leader Nancy Pelosi of California. "Don't expect us to vote for a bill that has a ban in it. Take the ban out."
WASHINGTON (AP) — Lawmakers and the White House are rushing to finalize a $1.1 trillion government-wide spending bill and a sprawling tax package touching all sectors of the economy, then head home for the holidays.
Dozens of issues remain unresolved, mainly policy disputes over environmental and other issues that lawmakers of both parties are trying to attach to the must-pass spending legislation. Republicans are seeking to lift the oil export ban and roll back various Obama administration regulations; Democrats are maneuvering to protect President Barack Obama's environmental rules and enact permanent tax credits for wind, solar and other renewable energy.
"We're not going to get everything we want in negotiations. The Democrats aren't going to get everything they want in negotiations," House Speaker Paul Ryan, R-Wisconsin, told reporters Thursday. "But I believe that we will successfully complete these negotiations."
Under current law, government funding expires Friday at midnight, when the last short-term spending bill expires. The Senate agreed by voice vote and without debate Thursday to extend that deadline through Wednesday Dec. 16 to allow more time for talks. The House was expected to follow suit Friday, but Ryan allowed that even more time might be needed.
"I'm not going to put a deadline on it," he said. "I want to make sure that these negotiations are done well and done right, and not by some arbitrary deadline."
Earlier, Ryan assured lawmakers from Northeastern states that legislation extending health benefits and a compensation fund for 9/11 first responders would be made part of the spending bill.
The spending legislation, which funds the government through the 2016 budget year, has become increasingly intertwined with the tax bill, which could deliver a political victory for both sides.
Uncertainty remained as to whether lawmakers would pull off a major tax bill with permanent extensions benefiting both sides, or simply opt for a two-year extension of existing tax breaks. With Congress' legislative year drawing to a close, lawmakers were eager to finalize their work and head home for the holidays.
"Everything is tenuous right now. We've had meetings, there's no finality," Senate Minority Leader Harry, D-Nev., said late Thursday. He said sticking points relate to labor and environmental issues, and a campaign finance provision pushed by his Republican counterpart, Majority Leader Mitch McConnell of Kentucky, to lift certain spending limits by party committees.
The two-year budget and debt deal passed earlier this year set the overall spending levels, but that left it up to the powerful Appropriations Committee to allocate the money ahead of the deadline for a partial government shutdown. The final areas of contention are the so-called "riders," the policy issues that lawmakers like to add to must-do bills.
Sen. Barbara Mikulski of Maryland, top Democrat on the Senate Appropriations Committee, said negotiators were down to about 40 riders after starting with 202. She contended Democrats proposed just a few, "and ours were very reasonable."
House Democrats, who've sought to draw attention to their push for gun control legislation in the wake of recent mass shootings, emphasized a new demand during the day as they announced their opposition to any bill that doesn't undo a longstanding provision that has been interpreted to block the Centers for Disease Control from conducting research on gun violence.
"My understanding from them is they need Democratic votes to pass it. So we will have to come to terms to do that," said House Minority Leader Nancy Pelosi of California. "Don't expect us to vote for a bill that has a ban in it. Take the ban out."
Associated Press writers Alan Fram and Mary Clare Jalonick contributed to this report
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Post by backdoc » December 11th, 2015, 2:24 pm:
FIRST COMES LOVE, THEN COMES MARRIAGE, THEN COMES BABY IN THE BABY CARRIAGE! HEE HEE
WHETHER YOU PUBLICLY SEE THE RATE TRADING IN DECEMBER OR NOT IT IS BEING TRADED AMONG BANKS.
FIRST CAME LOVE NEW GOVT. SEPT. 8 TH 2014!
THEN CAME MARRIGE, COUNTRIES MARCH 8, 2015
NEXT COMES BABY IN THE WOMB, BANKS
THEN COMES BABY IN THE BABY CARRIAGE, IT GOES PUBLIC! DOC IMO
Post by backdoc » December 11th, 2015, 2:32 pm:
NEXT WEEK WILL BE HISTORICAL! YOU WILL SEE THE EFFECTS OF OZ GOING GLOBAL!
IT WILL TRULY BE A DECEMBER TO REMEMBER!
THEY WILL SHOW IT TO THE PUBLIC WHEN THEY ARE READY! QUIT MICRO-MANAGING THIS BLESSING IS MY ADVICE! CONFIDENCE COMES FROM KNOWLEDGE!
REMEMBER, NEXT YEAR IS ASSET BACKED. BE PATIENT AND THANK FRANK FOR ALL HE HAS DONE FOR YOU!!! SHOUT OUT SOME LOVE TO FRANKIE! "ALL IN" DOC IMO
http://ift.tt/1J0DZW3 ... -1.1472501
http://ift.tt/1IZTZHY
Image
Post by backdoc » December 11th, 2015, 2:24 pm:
FIRST COMES LOVE, THEN COMES MARRIAGE, THEN COMES BABY IN THE BABY CARRIAGE! HEE HEE
WHETHER YOU PUBLICLY SEE THE RATE TRADING IN DECEMBER OR NOT IT IS BEING TRADED AMONG BANKS.
FIRST CAME LOVE NEW GOVT. SEPT. 8 TH 2014!
THEN CAME MARRIGE, COUNTRIES MARCH 8, 2015
NEXT COMES BABY IN THE WOMB, BANKS
THEN COMES BABY IN THE BABY CARRIAGE, IT GOES PUBLIC! DOC IMO
Post by backdoc » December 11th, 2015, 2:32 pm:
NEXT WEEK WILL BE HISTORICAL! YOU WILL SEE THE EFFECTS OF OZ GOING GLOBAL!
IT WILL TRULY BE A DECEMBER TO REMEMBER!
THEY WILL SHOW IT TO THE PUBLIC WHEN THEY ARE READY! QUIT MICRO-MANAGING THIS BLESSING IS MY ADVICE! CONFIDENCE COMES FROM KNOWLEDGE!
REMEMBER, NEXT YEAR IS ASSET BACKED. BE PATIENT AND THANK FRANK FOR ALL HE HAS DONE FOR YOU!!! SHOUT OUT SOME LOVE TO FRANKIE! "ALL IN" DOC IMO
via Dinar Recaps - Our Blog http://ift.tt/1Q8foXt
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