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Tag: wolf street

Consumer Companies Issue Most Negative Guidance Ever Despite Lower Gasoline Prices

by Wolf Richter But the oil-price crash was supposed to goose consumer spending. The price of oil continues to crash relentlessly. WTI trades at $49.80 as I’m writing this on Monday after hours, down 5.5% for the day, and down 54% since June 2014. The oil-price plunge is eating into the American oil boom, munching on income statements and balance sheets of drillers that have gorged on junk[...]