Oil Jumps On Saudi “Maybe We’ll Extend These Cuts After All” Headline

Well this is laughable. With crude prices having already recovered fully from their early March swoon, someone in Riyadh apparently thought we needed a little but more of a push ahead of this afternoon's API data. Here's the headline: SAUDI ARABIA SAID TO WANT OPEC TO EXTEND PRODUCTION CUTS: WSJ And the reaction was swift and predictable: Of course jawboning has a generally short shelf life so this will probably be faded quickly, but really we're not sure why the Saudis are bothering wi