Margin calls rolled in on Friday after a 8% rally in crude on a sharp drop in the Baker Hughes rig count. That might be hitting the market as prices squeeze toward $50 for the second time today.
An earlier move hit $50.56 then promptly dropped back doe to $48.
WTI crude oil
The turnaround is giving a reprive to the Canadian dollar after USD/CAD nearly hit 1.28 on Friday. The pair is down a full cent on the day.
