Oil just took a heavy beating

[BusinessTech]

Oil just took a heavy beating

Oil, one of the most-favored reflation trades, just took a heavy beating. Prices headed for the biggest weekly slump since October after a sell-off driven by concerns that recent gains had been too rapid given mixed signals about near-term demand and a rising dollar.

 

[JohnStarr]

*SA Government looks the other way* We will STILL raise prices because, while the price of oil has dropped, the USD/ZAR increased 1% and the increase is large and unavoidable.

*SA motorists*...WTF??? What economics are you applying here...?

 

[Gordon_R]

Fracking in the US becomes commercially viable between $60-70 per barrel. This puts an upper limit on prices for the near future. See:

Saudis bet on the end of fracking's glory days, pushing oil prices higher | Fortune

Oil producers are keeping a tight grip on supply with key producer Saudi Arabia betting that fracking's heyday is over.

fortune.com

 

[saturnz]

I wouldn't consider it a heavy beating, it fell $10 from its year high of $70

when its under $20, then its a heavy beating

Fracking in the US becomes commercially viable between $60-70 per barrel. This puts an upper limit on prices for the near future.

I'm not convinced, huge losses were incurred simply because it is that expensive to extract oil through fracking.

Not sure investors are that keen to jump in again.

 

[pinball wizard]

I wouldn't consider it a heavy beating, it fell $10 from its year high of $70

You clearly don't understand the myBB style guide to writing MASSIVE headlines.