It Just Got Worse: Crude Plunges To 10-Month Low, Credit Gets Nervous

It Just Got Worse: Crude Plunges To 10-Month Low, Credit Gets Nervous

One day after crashing into a bear market, crude continued to plunge. As a reminder, sentiment is God awful as supply worries far outweigh "hope" (and at this point that's all it is) around the extent to which OPEC can balance the market. We got EIA data this morning and it was ostensibly bullish: Crude -2,451k Bbl, Median Est. -1,200k Bbl Cushing crude -1,080k PADD 3 crude +898k Gasoline -578k vs est. +500k PADD 1B gasoline -283k Distillates +1,079k vs est. +500k PADD 1 Distillates +1,904k R
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