CL Redux

Quote from Chicago_CTA:

WTF? What was that spike in the last minute?

1.50?


fat finger??

I thought there was just a problem with my broker, IB. That was pretty ridiculous. I was on the verge of shorting at 83.95 earlier this morning. If i would have shorted, i would have had a stop at 83.94 and been absolutely PISSED at that spike. Luckily, no position and calm, lol.
 
Quote from EON Kid:

Iranian parliament drafts bill, to block Strait of Hormuz

*drafts*


funny how it was 6:30 pm in Iran, working late i guess
attachment.php
 
NYMEX, COMEX® and DME Products on CME Globex

Tuesday, July 3
1615 CT / 1715 ET – Regular CME Globex close for trade date Tuesday, July 3
TAS/TAM Products - Regular Close - Per each product schedule
1700 CT / 1800 ET – Regular CME Globex open for trade date Thursday, July 5


Wednesday, July 4
1215 CT / 1315 ET – Trading halt
• Order entry, modification, and cancellation allowed
1700 CT / 1800 ET – Halted products resume trading
Thursday, July 5
1615 CT / 1715 ET – Regular CME Globex close for trade

date Thursday, July 5
TAS/TAM Products - Regular Close - Per each product schedule
 
here it is :) http://www.marketwatch.com/story/oil-futures-retreat-in-asian-trading-2012-07-02

Oil falls 2% on disappointing economic data
<b>Investors worry about China, </b>U.S. weak manufacturing

The final reading of HSBC’s China manufacturing Purchasing Managers’ Index for June showed the gauge slipping to 48.2, down from 48.4 in May. It exceeded a preliminary estimate of 48.1, but it was the lowest level since March 2009. Read more on China's PMI.

Chinese economic data “dampened the mood,” early on, analysts at JBC said in a note to clients Monday.


Quote from riskaddict:

maybe so but what about the China problem?
 
Quote from EON Kid:

it was released at 6:30pm Iranian local time, that's a late lunch :confused:

LOL, as a persian myself, i can tell you that 630pm is far closer to lunch than dinner.
 
Iran won’t endure West's sanctions

http://www.marketwatch.com/story/iran-wont-endure-wests-sanctions-2012-07-02?link=mw_home_kiosk

<b>Commentary: Hyperinflation will pit people against regime that caused it </b>

Two Iranian admissions of the sanctions’ effectiveness, one from above, the other from below, emerged in recent days.

The first came last week in Moscow, when Mohammad Ali Emadi, an executive for National Iranian Oil Co., told reporters that Iranian oil output has dropped in the wake of the sanctions by “20% to 30%.” That translates to a daily loss of at least $37 million and possibly more than $50 million. This admission followed previous Iranian denials that the sanctions were having any effect.

The other admission rose from the Iranian bazaar, where, via social networks, shoppers recently declared a three-day boycott of bread and milk to protest soaring prices. As The Wall Street Journal reported last week, responses to the campaign have been palpable and people discussed them openly.

Lurking behind these two reports are deep structural problems. The first is energy’s disproportionate share of the Iranian economy, and the second is the failure of President Mahmoud Ahmedinejad’s price reform 18 months ago.
 
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