BofA Says It's Time To Sell WTI Crude With A Price Target As Low As $35; Here's Why
Following this weekend's news that the massive Calgary fire, while still spreading, may soon be under control courtesy of some wet weather and favorable winds, as well as the stunner from Saudi Arabia that Ali al-Naimi was out, replaced with a puppet of the hawkish deputy drown prince Mohammed bin Sultan - a succession many saw as bearish for future oil prices - algos had refused to give up on recent momentum, and pushed WTI just why of $46/bbl overnight.