Why Was Crude Up Huge On Monday?
The trading at the New York Merchantile Exchange (NYMEX) on Monday turned from ordinary to absurd extremely quickly as oil had by far it’s largest one day nominal and percentage gain. I have now been covering the energy sector for more than two years but this was easily the most unbelievable trading day I have ever experienced. Crude oil opened the day at $104.55 and closed at $120.92 while hitting an intraday high of around $130.00. The trading became very volatile around 2:15pm that the NYMEX