I can't believe I'm still reading erroneous comments on yesterday's wild oil swing this morning. Even the financial news guys don't get it. That would have included CNBC yesterday until after the market closed. Then they finally found a commodity expert who understood what had happened. All the action was in the October contract, which was expiring. It got caught in a short squeeze. So it was either deliver the oil or pay the price of closing the contract. Out date contracts moved only modestly. She predicted we'd open today around $105 on the November contract. It's $107 as I write this.
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