Crude Oil Contract News Today : Breaking News, Live Updates & Top Stories | Vimarsana

refinery assets came under threat occurred back in 2008 when we had hurricane ike in the middle of august and two weeks later we had hurricane gust off. it came right into the heart of the center. and what happened, and this is interesting, ali, is in between august 15th and about the middle of september the crude oil contract on the new york america tile exchange dropped by 25% in price. but in the final four days when that contract went to expiration, it rallied 44%, and on the final day of trading, it went from a range of $103 all the way up to $130, a $27 barrel range. and this was a massive short squeeze. so what happened? and what happened there, ali, is the traders went back and look at what happened of the prior event, and of course, that would have been katrina in 2000 five. again, this was an event that was ultimately bearish for crude oil prices, bullish for product prices. and so they went ahead and they put the same trade on. but for the spec larts, they

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