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Oil Surges To 'Algiers' Lows After Obama Statement & Well-Timed OPEC Headline 

By: capt_nemo in POPE IV | Recommend this post (1)
Wed, 16 Nov 16 12:51 AM | 57 view(s)
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Just as Morgan Stanley warned, be careful getting too bearish into the OPEC meeting as OPEC's ability to engineer a short-squeeze (via well-placed but meaningless headlines) trumps any dismal fundamentals. Sure enough, WTI is surging by the most in 7 weeks to pre-Algiers levels on spurious headlines today, which builds on a reversal yesterday that started as President Obama discussed the Iran Deal.


http://www.zerohedge.com/news/2016-11-15/oil-surges-algiers-lows-after-obama-statement-well-timed-opec-headline




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