Speculators Really Did Screw The Pooch On Oil, Part 2

As of this writing, WTI is near $76 as it staged a rally of close to $5/bbl in the last 48 hours. As I published the WCTW yesterday, I didn't think I get the chance to write part 2 of how the speculators screw the pooch so soon. But here we are, and with the oil market, anything is possible.

Looking at the physical oil market signals, one thing is clear …