​Oil Rally, Fueled By Fed, CTAs And Record Shorts, Has Room For More Gains – Tyler Durden

Oil Rally, Fueled By Fed, CTAs And Record Shorts, Has Room For More Gains Oil is up more than $6 from its nadir last week with the latest leg higher helped by the risk-on tone across global markets. Today’s rally is, as Bloomberg’s Alex Longley writes, the latest in a bumper run of intraday price volatility for crude, with average daily swings in August and September being the highest since early this year. Against that backdrop, money managers had been positioned net short in Brent crude for the first time ever. With the Fed’s interest rate cuts assuaging concerns in…  — Continue at ZeroHedge News : Read More