As Oil Flash Crashes, One Trader Says The Commodity Selloff Is “The Single Largest Macro Factor” Right Now
by Tyler Durden
ZeroHedge.com
May 5, 2017
It was a very ugly night for the Andy Halls, Pierre Andurands and other crude longs, after oil flash crashed just before midnight ET, dragging WTI from above $45/bbl to below $44 in seconds on a surge in volume, to the lowest price since OPEC agreed to cut output in November.
As shown in the chart below, in less than 10 minutes futures slumped more than $1 as volume surged 14 times.
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