Crude Crushed Like an Accordion; Oil Stocks Smashed

In an otherwise uneventful morning, oil is certainly exacting punishment to the faithful residents of this obstreperous trade. WTI is off by more than 4% and crude stocks are being smashed into little pieces, much to the chagrin to all of those who were hopeful for a continuation of the brainless surge we’ve recently been entreated to.

Harrowing losses are presently menacing longs in the ‘oil patch’ today.

Overall, markets lack energy (extra Jeb!) and are mired in a slothful, rudderless condition, whereby investors are reticent to bet big ahead of the Fed and afraid to sell for fear of missing out on strong seasonal trends.