Posted 5/3/2023 17:56 (#10214746) Subject: crazy opening for crude; down hard
SC KS
Normally crude trades in a narrow band until European trading hours; however, tonight it was down $4.50 in the first 5 minutes of trading. This took the late march low of $64.58 out. It's bounced back to mid $66 since. Major support just over $60, but I think we bounce we hit $70 before falling that far. Crude inventories are much more in line now, so this appears to be all driven on fear at the moment.
crazy opening for crude; down hard
