WTI Crude Gives Up Friday’s Surge Gains, Back To $45 Handle, Amid China Storage, Tanker Fears

Monday, November 2, 2015
By Paul Martin

by Tyler Durden

Disappointed “this time it’s different” analysts point out better-than-expected China PMI, a relatively large decline Friday for U.S. rig count, and overall sentiment today as reasons why crude oil prices should not be falling, but after hitting 2 week highs Friday, with algos running stops on every swing, it appears the harsher reality of China’s full storage, plunging tanker rates, an unquivering OPEC, and ongoing production levels is too much to bear for the bulls...

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