WTI and Brent oil prices are plunging after Reuters headlines, quoting sources briefed on the matter, that Saudi oil output will return to normal quicker than initially thought.
WTI is back down to a $59 handle for now – so not entirely convinced…
Brent is down 5% on the news as a “top Saudi source” confirms that Saudi output will be fully back online in next 2-3 weeks.
S&P Energy stocks are tumbling too…
wow…
… how predictable was THAT?