Dirty tanker rates continue to go higher, as the sub-mentals in the middled east destroy the oil and gas industry in a wanton attempt to re-establish their monopoly on the supply of crude. They will die 1,000 fiery deaths for these trespasses and will find themselves deeply embedded in ‘fag-boxes‘ and a sundry of other hazardous predicaments.
I will admit, the futures being up as TLT crosses over into the dark lands of $130+ is not what I expected to see this morning. Very simply, the bond market is pricing in the second coming of Jesus Christ, your Lord and savior. He brings forth many gifts, such as the apocalypse and the wrath of our great creator, who has waited all of these years, until our populous reached well into the billions, to slaughter us all–for little to no reason, aside from our heatheness and sin-filled lifestyles being too much for him to bear.
That being said, oil is in a state of super-contango and producers will keep storing their retarded oil, in FRO’s tankers, until morale and prices improve.