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WTI Crude Tumbles To $45 Handle

With Saudi's short-changing contractors, record inventoriers in US and Saudi, and looming OPEC meetings, it appears the biggest marginal driver of crude price (for now) is China. After Friday's algo-driven exuberance, China's worst GDP print in 6 years and weak industrial production have prompted weakness in the energy complex (China SPR build aside), pushing WTI back to a $45 handle once again...

 

 

Charts: Bloomberg