There is a temptation to attribute the recent rise in oil prices to just the uncertainty of the political purge that we have seen in Saudi Arabia, but if you think that you are missing the larger point.
It’s close to midnight and something's buying oil in the dark. Under the moonlight, you see a pop that almost Stops Your Stop. You Try to Scream, but the computer takes the trade before you change It. You Start to scream, as oil rallies hard right before your eyes, You're Paralyzed!
Is China headed for a ‘Minsky moment? One Chinese economist has warned that they could and that warning, along with some comments from a Russian oil company, seemed to slow what had been an impressive oil rise ahead of today’s November Future expiration.