The US-Saudi "secret" plan that was supposed to crush Putin quickly turned sour when as we reported several days ago, one after another America's own shale plays, which recently entered a very sharp bear market, started appearing on various death watches (case in point today's MHR Second Lien refi which repriced from L+500 to L+750 in minutes).
As a result, one wonders: did Obama realize that Russian "costs" which as everyone knows by now include a Eurpoean triple-dip recession, could also very soon include an insolvent US shale industry, and thus may be just a little too much, and, one further wonders, if he is the one who just tapped Saudi Arabia on the shoulder?
WTI – granted, record oversold as is – explodes higher (on no news whatsoever)
As Brent-WTI compresses…
and Shale stocks are bouncing…
Charts: Bloomberg
via Zero Hedge http://ift.tt/1rAPjy2 Tyler Durden