Oil’s Stint Above $50 Ends - Bloomberg:
"Was $50 a barrel for oil just a passing fancy?
West Texas Intermediate, the U.S. benchmark, skyrocketed above $52 a barrel at the end of September, teasing investors. But the rally didn’t last long. After hedge funds sliced their net-long position on WTI and pulled back from record bets on rising Brent prices, oil had slipped as low as $49.10 on Friday.
“We just rallied too far, too fast,” said Clayton Rogers, an energy derivative broker at SCS Commodities Corp. in Jersey City. “I think it was just time for a correction.”"
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