Crude exhibited heavy volatility but a split view on direction through Monday. A spark of risk appetite opened trade for the week in the Asian session; and the wave of optimism wouldn’t hold up through the full trading day. Through the European session oil was driving steadily higher until the liquidity punch associated with US interests sparked an adjustment rally that sent commodities, equities, currencies and debt yields to new highs.

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Oil Fully Retraces Early Morning Rally after Risk Appetite Stalls