It is becoming settled wisdom that the most dangerous aspects of any current financial contours are due almost entirely to some version of HFT or electronic trading. That is undoubtedly true, as far as it might relate to one aspect, but to claim that computers are the single biggest source, let along only source, of financial impropriety is obtuse. The [...]
There were several updates in the crude oil data flow, including the latest “unexpectedly” huge increase in inventory that pushed spot WTI back below $50 yet again. The US EIA estimated that domestic inventory rose by a gargantuan 10.3 million barrels, far exceeding predicted builds. That figure has to include oil being shipped to the US to be stored in [...]
Crude oil futures have been quite volatile of late, particularly in the front months where even the slightest changes in expectations of whatever factor (rig counts, CEO comments, etc.) send WTI surging or tumbling by turn. Despite that, however, the outer years on the curve have seen not just more stability but a steady downward pressure of late. I think [...]
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