Brent Oil

This came across the wire a few minutes ago “Saudi Arabia launched:EUR1bn 8yr and EUR2bn 20yr – IFR News . The last few times Saudi Arabia has announced a bond offering oil has dropped .Not the only reason for collapse in prices today but likely one of them.Also Goldman with a note saying latest OPEC move will open door for More Shale oil to hit markets. U.S.crack spreads continue to trend higher after Philadelphia refinery shut down.Today RBOB -1.7% WTI -2.5%. Not a good looking chart for the bulls.

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