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Feature Article

08/31/2015 - 3:31pm By: Zero Hedge

Earlier today we were wondering how long it would take the big banks - many of whom are short the commodity - to jump in the path of the oil momentum train, and we didn't have long to wait for the answer.

Just before the NYMEX close, Bank of America revised its year end and 2016 oil forecasts lower, from $58 and $62 to $55 for 2015 and $61 for 2016. But the real downgrade came moments ago from Citi's Ed Morse who, together with Goldman, has been bearish on oil for a good part of the past year, just slammed today's crude breakout and doubled down on his double-dead cat skepticism, when he released a report titled Another False Start...Time to Fade the Rally whose punchline is...


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