During my prayer time today, I saw oil prices shown in bold black numbers on a white background. At first, the price was $21.50. Then instantly, the first two numbers changed places and the price was $12.50.
Crude oil is currently trading for $46.94, so dropping to $12.50 would be devastating to the industry and our economy overall. Investors get concerned when oil prices get too low because overly leveraged oil companies are no longer able to service their debt payments, which causes trouble for financial institutions as their outstanding loans go into default. So, extremely low oil prices can damage and severely weaken our entire financial system.
Oil prices have not been below $20.00 since right after the terrorist attacks on September 11, 2001 when they hit bottom at about $17.12. The terrorist attacks on 9/11 disrupted the global demand for oil as the economy temporarily came to a halt. Many airline flights were cancelled during that time.
Dropping to $12.50 per barrel sounds hard to believe. It would likely require another massive disruption in global demand. However, there have been recent prophetic warnings about a disruption coming. Economist Martin Armstrong has also issued a warning of a possible military conflict on September 11-12.
In a previous post, I shared prophetic insights showing silver prices dropping to $9.50, which also sounds hard to believe. As commodities, silver and oil often move in the same direction. The last time silver was that low was September 2008, during the peak of the housing market collapse. So when we see prophetic warnings of silver and oil prices dropping to these extreme low levels, it tells us extreme trouble is coming.
Everything God reveals is important, so I believe the price instantly changing from $21.50 to $12.50 indicates a sudden drop from a price that is already dangerously low. I was not shown any dates.
Author: James Bailey
James Bailey is an author, business owner, husband and father of two children. His vision is to broadcast the good news of Jesus Christ through blog sites and other media outlets.
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anyone following correlation of gold/silver to oil? If oil dropped that much what would speculation be toward silver/gold?
As I mentioned in this post, prophetic insights have shown silver dropping to $9.50 per ounce.