Oil Soars 6% On Optimism For Imminent OPEC Output Deal

For those curious why oil has soared over 6% in early trading, here is the one tweet explanation we posted yesterday during the peak pessimism surrounding the OPEC deal:
OPEC hoping more shorts will pile in ahead of tomorrow's announcement
— zerohedge (@zerohedge) November 29, 2016

Indeed, shorts piled in, and now they are rushing for the exits on an unprecedented volley of relentless “optimistic” headlines. Technicals aside, the “fundamental” reason why WTI has exploded this morning…

This post was published at Zero Hedge on Nov 30, 2016.