{"id":80578,"date":"2009-12-14T06:45:00","date_gmt":"2009-12-14T11:45:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/oil-drops-below-70-as-end-demand-remains-sickly-2009-12"},"modified":"2009-12-14T06:45:00","modified_gmt":"2009-12-14T11:45:00","slug":"oil-drops-below-70-end-demand-remains-very-weak","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/80578","title":{"rendered":"Oil Drops Below $70. End Demand Remains Very Weak"},"content":{"rendered":"<p>West Texas Intermediate crude has dropped below $70.<\/p>\n<p>A few weeks ago it was in the mid-$80s.<\/p>\n<p><a href=\"http:\/\/ftalphaville.ft.com\/blog\/2009\/12\/14\/87721\/oil-breaks\/\">FT Alphaville&#8217;s Izabella Kaminska<\/a> highlights research from JBC Research about the sad state of end demand (remember, last week&#8217;s surprisingly narrow trade deficit was partly the result of oil demand at levels not seen since January 2000):<\/p>\n<p style=\"padding-left: 30px;\">Some of the reasons behind the latest bearish wave are: the massive middle-distillate overhang, negative y-o-y demand figures for gas oil and gasoline, a widening crude contango, bearish economic headlines, renewed turbulence in financial markets and a strengthening dollar.<\/p>\n<p>And those demand figures: pretty much down everywhere.<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/static.businessinsider.com\/~~\/f?id=4b2624cb0000000000b2ced5\" border=\"0\" alt=\"gasoline\" \/><\/p>\n<p><a href=\"http:\/\/www.businessinsider.com\/the-next-leg-of-deflation-has-begun-2009-12\"><br \/><\/a><\/p>\n<p><a href=\"http:\/\/www.businessinsider.com\/the-next-leg-of-deflation-has-begun-2009-12\">This weekend<\/a> we noted how the last time oil and gold made a sharp move down in tandem, such as what we&#8217;ve seen in the last couple weeks, bad things followed.<\/p>\n<p><a href=\"http:\/\/www.businessinsider.com\/oil-drops-below-70-as-end-demand-remains-sickly-2009-12#comments\">Join the conversation about this story &#187;<\/a><\/p>\n<p><b>See Also:<\/b><\/p>\n<ul>\n<li><a href=\"http:\/\/www.businessinsider.com\/the-next-leg-of-deflation-has-begun-2009-12\">The Next Leg Of Deflation Has Begun<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/former-cibc-oil-225-by-2012-2009-12\">Oil&#8217;s Going To $225 By 2012, Says Analyst<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/something-bad-happened-between-october-in-november-2009-12\">The Recovery Is Faltering<\/a><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/TheMoneyGame\/~4\/L02uJjJtSw4\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>West Texas Intermediate crude has dropped below $70. A few weeks ago it was in the mid-$80s. FT Alphaville&#8217;s Izabella Kaminska highlights research from JBC Research about the sad state of end demand (remember, last week&#8217;s surprisingly narrow trade deficit was partly the result of oil demand at levels not seen since January 2000): Some [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-80578","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/80578","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=80578"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/80578\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=80578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=80578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=80578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}