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Nymex crude oil futures have plunged ~2.5%, as a large block of trades fueled rumors that a...

Nymex crude oil futures have plunged ~2.5%, as a large block of trades fueled rumors that a commodity fund was forced to liquidate. But it doesn’t take a conspiracy theory to see why oil prices are taking a hit: U.S. supplies are rising and will continue to do so while shipments on the Seaway pipeline run below the daily capacity of 400K barrels. Plus, in a market filled with speculators, a correction is in order.
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Comments (1)
  • Herr Hansa
    , contributor
    Comments (3080) | Send Message
     
    There is some chatter that a large commodities hedge fund is liquidating some positions. If true, then the drop might not last long. If even worse, then we may hear of some interesting news soon. Futures activity is a bit odd at the moment on volumes.
    20 Feb 2013, 02:42 PM Reply Like
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