Brent crude is rising this morning up from an earlier dip to $101.75. That is not the case for WTI crude which has been in freefall since this morning’s CPI data print. Brent-WTI has soared from below $5 to over $6.50 in the last few hours as WTI drops to a $95 handle at its lowest since mid-January.
Obviously positioning in crude was very speculatively long but one wonders at the price action when it would appear to be the only ‘weapon’ Obama has left to fight Putin.
via Zero Hedge http://ift.tt/1qmQeC9 Tyler Durden