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Oil At The Epicenter Of Market Volatility
It was all about the blockbuster move in Oil on Thursday, with the energy instrument right at the epicenter of the moves that unfolded in currencies, bonds, equities, credit and volatility (VIX, MOVE indices). The President tipped CNBC that he was about to tweet a market-moving tweet in which he took pride of ‘brokering’ a potnetial re-concilitation between the Saudis and Russians for an eventual 10-15 mbpd oil productions cut. It was a wild ride from there, with Brent almost 50% up at one stage before the dust settled. The deal is still conditional to the Saudis finding sufficient solidarity by other OPEC ... (full story)