Crude Oil Is Going Nuclear
Jan 15, 2015, 19:30 IST
Crude oil is ripping higher again.
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On Thursday morning, West Texas Intermediate crude oil was soaring, rising more than 5.5%, or more than $2.75 a barrel, to as high as $51.25.
Recall that earlier this week, WTI fell below $45 a barrel for the first time since April 2009.
Brent crude prices were also up more than 4% on Thursday.
On Wednesday, crude oil spiked violently in afternoon trading in New York, and on Thursday that move was being extended.
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It's a crazy day in the market so far, with the Swiss National Bank stealing headlines after a shocking decision to no longer set a price target on the Swiss franc against the euro.
But it is still all about oil.
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