Crude Surges Back To 2-Week Highs As Yellen Hope Trumps Iran Price Cuts
![Crude Surges Back To 2-Week Highs As Yellen Hope Trumps Iran Price Cuts Crude Surges Back To 2-Week Highs As Yellen Hope Trumps Iran Price Cuts](https://5ux.com/sites/5ux.com/files/styles/medium_250/public/resize/remote/693281aa3d4b0dc33763507023f38a80-600x350.jpg?itok=FysVd-UR)
Only in the new normal of manic algos and goal-seeked short-squeezes could actual news that Iran is undercutting OPEC by slashing prices to maintain market share be out-followed by hopefulness driven by upbeat comment from Janet Yellen (because she has nailed everyting so far) and more chatter about a production freeze (which makes no sense whatsoever given the Iran news). For now, WTI is trading above $39.50 ahead of today's rig count data, back at 2-week highs.