Tuesday oil humor extends to Wednesday as WTI Crude algos key off yet another Doha headline and spike stops above yesterday's highs.
Recall what we, jokingly, said several days ago - all it takes to push oil higher is for the word "Doha" to appear in an OPEC related headline.
This is the headline that pushed oil higher: ECUADOR SAYS GLOBAL OIL PRODUCERS WON'T DISCUSS CUTS AT DOHAalgos just looking for "Doha" now
— zerohedge (@zerohedge) April 8, 2016
Well, that is precisely what happened moments ago, and here are the headlines that pushed oil to new highs:
- IRAQ DOESN'T WANT TO DECIDE ON OIL FREEZE BEFORE MEETING: NIMA
- IRAQ: OIL PRODUCERS SHOULD AGREE ON STEPS TO EASE 2M B/D GLUT
- IRAQ'S OPEC GOVERNOR TO HEAD DELEGATION TO DOHA TALKS: AL-NIMA
No news, just the word "Doha", and the result is below: