Oil rips back into positive territory
In a hyper-volatile market across asset classes, oil stands out as the most volatile and today underscores why.
Newsflow has been fairly quiet. There was refinery outage in Canada and Indonesia asked to rejoin OPEC but there's nothing screaming to buy or sell crude.
Yet oil prices rallied to $45.80 early in US trading, then fell to $44.55 then surged to $46.30.
There is no rhyme or reason behind this trade at the moment and the Canadian dollar is getting dragged along ahead of tomorrow's BOC decision.
