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The Day So Far

Two main points to discuss and that is the reasoning behind the dramatic collapse in crude oil prices and also what to expect from the ECB later today. Starting with oil where Wednesday’s slide in WTI crude was the largest seen in over 12-months following yet another large build in inventories Despite the brief rally due to the market’s propositioning following the 11mln+ build in API data, it didn’t take long before the tide changed and prices began to fall rapidly.