Oil prices spent most of the day climbing steadily.
But then in the last few minutes of the NYMEX session, prices tanked.
The October futures contract ended closing down 1.2% for the day.
One of our oil trader contacts says there was no obvious trigger, but that it was likely to have been someone with a large position “fading” the market on news that the UK seems reluctant to join in any Syria strike.
Here’s the chart via FinViz:
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