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'Traders' Panic-Buy WTI Crude After Disappointing GDP

Stop-running algos are panic-buying WTI crude this morning as a slightly disappointing GDP print must have triggered the "bad news is good news" function to horde oil with both hands and feet...

 

 

Which makes perfect sense after this...

  • *IRAQ'S OIL MINISTER SAYS ITS OIL OUTPUT EXCEEDS 4M B/D: ALMADA

And ConocoPhilips' disaster!

 

Spot the odd one out...

 

Charts: Bloomberg