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It's a jittery afternoon in the oil markets, where crude futures plunged $3 in a single minute...

It's a jittery afternoon in the oil markets, where crude futures plunged $3 in a single minute shortly before 2 p.m. for no apparent reason. Some traders blame rumors of a release of the strategic petroleum reserve, but articles were out earlier this morning discussing similar speculation. CNBC’s anchors are floating the idea that options expiry may be playing a role. October crude closed -2.7% at $96.62.
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Comments (7)
  • Agbug
    , contributor
    Comments (1167) | Send Message
    I'm starting to think my kids suggestion to buy WWE is sounding good as it's something off the Fed's radar and safer from manipulation. Not a bad yield either.
    17 Sep 2012, 02:53 PM Reply Like
  • wapiti
    , contributor
    Comments (711) | Send Message
    If you want to win in this market....listen to your kids. They all like AAPL,GGOG,UA,BWLD,PNRA, and all the other MOMO names...NO reason to analyze fundamentals in this enviornment
    17 Sep 2012, 03:11 PM Reply Like
  • sethmcs
    , contributor
    Comments (3505) | Send Message
    The reelect Obama PAC sold some oil futures. Big deal.
    17 Sep 2012, 05:08 PM Reply Like
  • moneyTalksBSWalks
    , contributor
    Comments (193) | Send Message
    Both oil and unemployment at high levels will sink Obama. While ue cannot be manipulated much, oil can, has been manipulated in the past and sure as hell will be before this election election. Every attempt will be made to get oil below 3 before the election.
    17 Sep 2012, 05:43 PM Reply Like
  • pollyserial
    , contributor
    Comments (1090) | Send Message
    They might, if Romney could keep his foot out of his mouth for more than a few days.
    17 Sep 2012, 07:09 PM Reply Like
  • Hendershott
    , contributor
    Comments (1638) | Send Message
    "Speculators" bail. September expiration.
    17 Sep 2012, 05:52 PM Reply Like
  • systemBuilder
    , contributor
    Comments (202) | Send Message
    Just invest in ABCD's ... Anything Bernanke Cannot Destroy! Gold, Real Estate, guns, ammo, etc...
    18 Sep 2012, 03:24 AM Reply Like
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