Oil Suddenly Surges Out Of The Blue
Ok, so something’s amiss in crude, which is on the move in a fairly “big league” way.
- WTI CRUDE RISES AS MUCH AS 84 CENTS TO INTRADAY HIGH OF $47.93
And it’s still going. Have a look:
(Click on image to enlarge)
Although it started to rise with stocks on the Bannon story, the catalyst here isn’t immediately clear.
Indeed, it’s hard to see a connection. As Bloomberg notes, “there’s a report of a fire at the big Baytown refinery in Texas,” but that’s about it.
We’ll see.
Disclosure: None.