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Takeaway: It's not easy trying to manipulate oil markets.

The Saudi Oil Minister's Gonna Need a Bigger Jaw - z oil

Below is one of Hedgeye CEO Keith McCullough's top-3 things today. Email our sales guy Matt Moran for more info.

  1. OIL – Saudi Oil Minister jaw-boning, but he’s going to need a bigger jaw if he wants to clear WTI’s long-term TAIL risk bar of $51.53 resistance; I think Oil, CRB Index, etc. Deflation Risk is right back on the table and probably why Global Equity markets are signaling overbought and/or exhaustion to the upside – they need Energy!

Meanwhile ... 6,503 miles away from New York City...

The Saudi Oil Minister's Gonna Need a Bigger Jaw - OPEC cartoon 04.24.2015