Brent falls below $70 per barrel for first time since May 2010

There will be some sombre Thanksgiving meals in US shale regions and some executives asking why they weren’t hedged on Monday morning.

WTI is below $67 now.

Update: Massive selling hit into the floor close with WTI crude down $7.54 to $66.15, down 10.23% on the session. Ouch.

Wait until another wave of margin calls hits on Monday — heck, we’ll probably get another margin hike to go with it.