Scroll down Bloomberg site (https://www.bloomberg.com) to hear Ed Morse argue the bullish case for oil…
And, in this Bloomberg article Amratya Sen suggests that delta hedging from those who sold puts to Mexico and other producers is exacerbating the move down:
“That forced some traders to sell futures to balance the risk, or gamma, from options contracts, forcing prices lower, according to Amrita Sen, chief oil market analyst at Energy Aspects. “Negative gamma from the large Pemex hedging and shale producer selling coupled with short positions from momentum traders have created violent moves lower and no one risks catching a falling knife,” she said.”
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