“I’ve been doing this for 14 years and that’s the fastest move I’ve ever seen,” John Gretzinger, energy risk manager at INTL-FCStone, told Reuters. “I think it was too fast to be anything but HFT (high-frequency trading) or other algos. We just don’t know right now, but that’s my gut feeling.”
USO dropped sharply after slamming into resistance at its 200-day simple moving average.
The oil ETF was down nearly 3% at last check.
U.S. Oil Fund
