Is this -the end- of the run? That CPI data should've given the oil bulls ammo to bid it up higher. After all, those who are creative might in fact assume fed cuts aren't entirely off the table. Of course, it looks bearish as demand is down, resulting in a squeezed consumer and wage not able to bid anything else up.
Wait until the inventory report. Then it'll be off and running again (regardless of what inventory shows).
Maybe it's just my subjective impression, but many of the recent inventory reports - regardless of the number - saw CL selling off $2-3 and then quickly bidding it back up into the green. Curious how it will be today.