» » Crude Retreated after Rallying on Short Squeeze

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Crude oil retreated after yesterday's rally which was in line with the strength in the equity markets. While last week's output freeze deal might have helped the jump a bit, the key is probably short squeeze. The front-month WTI contract initially rose to 32.05, a level not seen in more than 2 weeks, before ending the day at 31.48, up +6.21%.


from Oil N' Gold Focus http://www.oilngold.com/ong-focus/insights/crude-retreated-after-rallying-on-short-squeeze-2016022332387/
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