Oil Is Going Crazy On Heavy Volume In After-Hours Trading

Right around 7:30 PM ET, West Texas Intermediate (WTI) crude oil futures rose above $100 a barrel for the first time since September.

They didn’t stop at $100, though – right now, futures are trading right around $102, just off the highs of the evening.

The futures market is seeing some unusually heavy volume in after-hours trading as oil advances, as illustrated in the sub-graph of the chart below.

The upward thrust may be connected to the unrest unfolding in Egypt this evening, where several have been reported dead in clashes as the Egyptian military pledges to launch a coup against the government tomorrow if the demands of the Egyptian people are not met.


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