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WTI Plunges To $44 Handle, Near 5-Month Lows

Despite CNBC's focus on 'lows are in' after a bigger than expected inventory draw, the realization that production continues to surge has cratered WTI crude which is now trading with a $44 handle!! This is the lowest in 5 months. Energy credit risk is back near 1000bps once again - near its record wides vs the broad HY index.

Crude plunges from $46 to $44


... and credit risk soars: