It’s a no from me, dawg

[The beef 675] [I'm an image] “Between plummeting mortgage rates and dropping oil prices, what’s not to like about coronavirus?” - Jason Hey there carnivores, Markets dropped again on Friday. Today we’re talking about Russia doing its own thing. Keep raging, Jeff & Jason [Image] [I'm an image] Russia and OPEC part ways There's trouble in paradise... if paradise was the OPEC+ meeting in Vienna on Friday. Russia informed its fellow oil-producing nations that it would not be reducing its oil output to help sustain oil prices around the globe. Crude oil prices have been plummeting as demand has fallen as travel grinds to a halt. Thanks, coronavirus. China is one of the world’s largest consumers of crude oil, and since February, demand for black gold has fallen by more than 20% in the country. Cutting off your nose to spite the USA Russia’s got its reasons for refusing to cut production. Those meddling Russians always have an agenda, don’t they? While cutting production would help stabilize world oil prices, the Russians know that US manufacturers have been cranking out oil faster than you can say [“I’m an oilman.”]( As a result, Russia believes that buoying oil prices via production cuts is doing US shale oil producers a solid (they aren't wrong), and believe it or not, Russia’s not too happy with the US at the moment. The US recently used sanctions to prevent the completion of Russia’s Siberia to Germany gas line known as Nord Stream 2, while also punishing the Venezuelan arm of Russia’s Rosneft. Cause and effect After OPEC+ talks broke down, all hell broke loose in the crude oil world. Brent crude prices, the global benchmark, [fell 9%]( on Friday to $45.27 per barrel... the lowest price since 2008. And if you recall, that wasn’t a great year for the global economy. What’s worse, as soon as trading opened on Sunday, Brent crude prices dropped [another 30%.]( Saudi Aramco share prices [fell 9%]( on Sunday, dropping below the IPO price for the first time since going public. Analysts don’t think this is the end, but rather the beginning of a global crude price crash. Goldman Sachs announced that it could see prices falling [as low as $20 per barrel](. It set forecasts for Qs 2 and 3 to $30 per barrel. The bottom line... If your nation's economic well being is tied directly to the production of oil, all of the above is really bad news. Looking at you, Mohammed bin Salman. And big oil companies aren't safe either. Exxon Mobil and Shell also saw share prices drop at least 4% as the price war bubbled up. Look on the bright side though, non-energy industry folks. Crude oil makes up most of the gasoline you put in your car, so there’s a good chance that falling prices mean that filling up might get a few cents cheaper per gallon. [I'm an image] Coronavirus Fears Have Sent Stocks and Treasury Yields Plummeting Now, OPEC Has Tanked Oil [Image]( But With More Catalysts On The Way... It’s Time To Profit Off The Panic As Kyle Dennis Reveals In His Brand New eGuide The Election Catalyst Playbook [Gain Instant Access]( [I'm an image] ☑️ Goodnight, sweet prince. Steve Ells [will step down]( from his position as Chipotle’s executive chairman and give up his seat at the company’s guac and sour cream covered board table. The founder of the burrito factory started the company 27 years ago, but his brainchild struggled as of late, as the company dealt with food safety concerns (and sh*tty queso). The end was near two years ago, when he relinquished his corner office as CEO to Brian Niccol, who will now take over Steve’s responsibilities as executive chairman as well. How will Brian cuck Steve next? ☑️ A small win. If you like roller coasters then you must’ve loved the stock markets over the past two weeks. The Dow fell 256.10 points on Friday, after initially being [down nearly 900 point](s during trading. All three major indexes were able to squeeze out small gains on the week, with the Dow, Nasdaq, and S&P finishing the week up 1.7%, 0.1%, and 0.6% respectively. Friday also saw US Treasuries drop below 0.7% ... for the first time ever. But let’s not focus on the negatives. Gold has its best week since 2016. [I love gold.]( ☑️ An ugly report card. A report by the House Transportation Committee [didn’t mince words]( in regards to Boeing’s handling of its 737 Max model. The committee referenced engineering mistakes (never something you want to hear about an airplane), and a “culture of concealment” in the lead up to two deadly 737 Max crashes. The report found that Boeing argued to remove reference to its new MCAS flight-control system, and then took things a step further, trying to keep FAA from identifying hazards within the system. The FAA also got its wrist slapped in the report, with the House calling its oversight of Boeing “grossly inefficient.” “So does that mean we aren’t getting bonuses this year?” - the FAA’s inspection team. RagingBull, LLC 62 Calef Hwy. #233, Lee, NH 03861 Neither Raging Bull nor RagingBull.com, LLC (publisher of Raging Bull) is registered as an investment adviser nor a broker/dealer with either the U. S. Securities & Exchange Commission or any state securities regulatory authority. Users of this website are advised that all information presented on this website is solely for informational purposes, is not intended to be used as a personalized investment recommendation, and is not attuned to any specific portfolio or to any user's particular investment needs or objectives. Past performance is NOT indicative of future results. 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