Stocks, Oil Continue Soaring On Fake OPEC Meeting “Headline” That Was Just Denied

Wednesday, April 20, 2016
By Paul Martin

by Tyler Durden

It has become a daily farce. Having soared above yesterday’s highs on the Iraqi’ deputy oil minister’s comments on renewed production freeze meetings, not even 10 minutes later Russia immediately poured cold water all over it: RUSSIA SAYS NO AGREEMENT ON OIL MEETING IN MAY IN RUSSIA... But no downward reaction in crude as the HFT algos’ upward momentum has already been ignited, which was the only purpose behind the leak in the first place.

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