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Goldman Blames Oil Collapse On Momentum Chasers And Gamma Effects
Goldman knows what's behind the slide in crude. Or at least they think they do.
Oil of course careened lower on Tuesday, as WTI extended a record losing streak on the way to logging its worst day since September 2015. The oil VIX exploded. WTI is now the most oversold in history.
On Tuesday evening, in a brief post-mortem, we said the following about the harrowing price action that characterized the most recent leg lower:
In any event, there’s not a whole lot to say about Tuesday’s dram
