WTI Crude Crashes Into The $50s

WTI Crude Crashes Into The $50s (ZeroHedge, Dec 11, 2014):

Zee overnight stabilitee (and brief dead-cat-bounce this morning) has turned into a renewed bout of selling pressure and for the first time since July 2009, WTI has broken below the $60 level. Canada Heavy is trading $42.10 (down almst $4 today!), its lowest since April 2009. As Deutsche Bank warned last month, a drop in the oil price to $60 a barrel “is likely to push the whole HY energy sector into distress,” and sure enough – Energy credit spreads are wider once again, now at +952bps.

Leave a Comment