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WTI Crude Algo Buying Panic Takes Out Yesterday's Highs

The Keyser Soze bid is back... panic buying crude futures to run stops above yesterday's high before being gone... just like that...

Heavy volume in the sudden burst of bids...

 

No obvious catalsyst justified this move though some have commented that Libya news increased uncertainty:

  • *LIBYA OIL GUARD SAYS ZUEITINA PORT EXPORTS HALTED INDEFINITELY
  • *LIBYA GUARD: TANKERS MUST REGISTER WITH EAST GOVT FOR LOADINGS

 

Charts: Bloomberg