Aaaand Oil Absolutely Collapses

Yeah, so about that little bump we saw in crude on Wednesday morning after EIA data confirmed a huge inventory build but came in lower than last night's API number... It turns out the "crude" reality of record stockpiles set in over the course of the day. At this point, I think it's fair to describe it as a veritable rout. WTI fell to its lowest since December and closed below its 100-day MA of ~$50.90 for the first time since November as imports jumped a second week and production hit a