15/11/18

Oil Algos Panic-Buy Despite Biggest Crude Build In 21 Months, Production Surges



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Oil Algos Panic-Buy Despite Biggest Crude Build In 21 Months, Production Surges
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Update: The machines saw a dip and panic-bid it...

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After bouncing modestly following a record 12-day losing streak into a bear market, last night's API-reported surprisingly large crude build spooked WTI back down once again. Those losses have been reversed after a sudden plunge at 5amET, since then WTI is a one way street higher (above $57).

"The fact that U.S. crude-oil stocks are still rising sharply shows that the oil market is .....

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