Follow The Money In Crude Oil

A second wave of heavy outflows in November 2010 materialized well before any supply increase hint(s). See chart below. Interesting how outflows and rhetoric have become a bit more 'focused' as price has moved above an important swing high in 2011.

Crude Oil (WTI) and the Commercial Traders COT Futures and Options ZScore Weighted Average of Net Long As A % of Open Interest:


Headline: Oil prices fall as Saudis hint at raising supplies

The price of oil fell on Monday after the Saudi oil minister hinted that his country, the world's biggest oil producer, may raise supplies to put the brakes on higher oil prices.

Benchmark crude for March delivery lost $1.36 at $87.75 per barrel in afternoon trading on the New York Mercantile Exchange. The price of oil has fallen more than 3 percent since Thursday, when it was close to $92 a barrel.

Source: finance.yahoo.com