This shit is drifting in the wind now. WTI is off by a staggering 6% now.
One or two things come to mind with crude.
Price action is rigged. Some sort of deal with Trump and Saudi Arabia was reached due to Wapo journalist killing. But that might be a stretch.
Or, China is slowing much faster than we previously expected. There is no third option. Choose.
Interestingly, crude stocks are only down by 1-3%, as if this collapse isn’t happening now.
If you enjoy the content at iBankCoin, please follow us on Twitter