No one wants to be long into the weekend
It looks like the same thing is coming for stocks, at the pace we're headed.
WTI dropped like a rock into settlement, ripping through $20. It fell to $19.84 from $24.00 in minutes and from $27.89 at the intraday high. That's a 30% intraday drop.
Barkindo is out with a statement on his talk with the Texas Railroad Commissioner today and said:
- 'We are both concerned with current market developments including its impact on security and supply'
- Says they discussed 'perspective on current developments including its impact on security and supply'
Note that today is the last trade for the April contract. The May contract is at $23.25, which is also a swoon from $25.00 but not to the same degree.
