And so, Brent oil rips, up 10% in one night on no news:
It’s called a short squeeze and was one to behold, the largest since March 2009. Who knows how far this will run? It is based upon sentiment alone which has been boosted by central bank moves in China and the US. Nothing fundamental is changed.
In news, John Kemp is making more sense today about the long term outlook, from Reuters:
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