What was that?! Crude oil was slowing making its way to a test of technical support when a wave of buying hit. In just an hour between about 10:00AM and 11:00 AM US Eastern time, prices jumped almost $2.00 and over 100k lots traded. When it was sorted, the rationale seemed to be the result of an unplanned outage at a Canadian oil sands plant and supply threats that caused Brent to jump, dragging WTI with it, and pushing the spread between the two out to its widest since last Fall.
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