WTI spikes at close today

[setliff]

apparent short covering at settle time due to (as reported on cnbc)

-less than expected build at cushing

-consensus in the trading pits that cl has seen its bottom

-more refinery capacity due to upcoming maintenance completions
(increase in stroage being blamed on the decrease in capacity due to that maintenance)

-upcoming memorial day driving season.

[dan_s]

I heard today that WTI shorts are at a high, which IMO is very bullish. Short covering rallies can be fun.