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The selling in oil has started at the same time all week

WTI has been sold off in New York trade at 1200/1300 GMT all week

The timing is part coincidence, part common sense but the consistent weakness in crude at the same time each day this week is notable.

All these peaks come close to the same time. Some of that is the timing of oil positive/negative headlines but there is also what looks like an effort to consistently sell crude at the start of New York trade and beyond — at the heaviest volume hours.

To me, this looks like an oil producer putting on a big hedge.

ForexLive

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