Web Extra Fast Flash: Oil Breaks Below $85
It was just a few weeks ago that it seemed everyone was calling for $100 crude - but we’ve got a fast flash for you.
On Tuesday crude futures fell for a fifth straight session due to concerns about rising stockpiles.
In fact, according to the latest Reuters poll, analysts expect data to be released Wednesday will show oil supplies have climbed to 357.7 million barrels. That would be their highest level since June of 2009.
How should you trade the space now?
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Trader disclosure: On April 13, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Najarian Owns (CSX) call spread; Najarian Owns (LVS) call spread; Najarian Owns (JPM) call spread; Najarian Owns (BAC) Calls; Najarian Owns (C) Calls; Najarian Owns (CSX) Call spread; Najarian Owns (LVS) Call spread; Najarian Owns (JPM) Calls; Najarian Owns (PCX); Najarian Owns (TXN) Calls; Najarian Owns (VLO) Calls; Najarian Owns (YUM) Call Spread; Adami Owns (INTC), (GS), (AGU), (MSFT), (NUE), (BTU), (C) ; Finerman's Firm Is Short (IJR), (MDY), (IWM), (IYR); Finerman's Firm Owns S&P Puts; Finerman's Firm Owns (JPM); Finerman Own (JPM) ; Finerman Owns (BAC); Finerman's Firm Owns (BAC); Finerman's Firm Owns (BAC) Preferred; Finerman's Firm Owns (TGT); Finerman's Firm Owns (WFC) Preferred; Finerman Owns (WFC) Preferred; Finerman Owns (YUM); Seymour Owns (CHL), (DRYS), (GE), (BAC), (EEM), (F), (INTC), (LVS), (SBUX); Seymour's Firm Owns (POT)
For Patty Edwards
Edwards Owns (JPM) for Clients
Edwards Owns (INTC) for Clients|
Edwards Owns (GS) for Clients
For Citi analyst Donald Fandetti
Citi Owns (AXP)
Citi Owns (COF)
Citi Has Provided Baking Services To (AXP)
Citi Has Provided Baking Services To (MA)
Citi Has Provided Baking Services To (COF)
Citi Expects To Receive Compensation from (AXP), (V), (MA)
Citi Has Acted As Manager or Co-Manager Of Offering of (AXP), (COF)
Citi has Managed a Securities Offering of (YUM)
Citi Has Received Compensation from (YUM)
(YUM) is an investment banking client of Citi
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