Come do it for us instead.
Brent up 8.30% at $46.72
WTI up 8.65% at $41.94
XLE up 4.92% at $64.28
XOP up 6.52% at $36.03
Reuters (Update 10!) via CNBC:
* Oil whips higher in one of biggest gains since 2009
* Rising more than 8 pct, oil erases week of losses
* Global stock markets climb as China shares recover
* Short sellers race for exit after near-record position
(Updates prices, context in paragraphs 8-9 and 13-16)
NEW YORK, Aug 27 (Reuters) - Oil rocketed more than 8 percent higher on Thursday, posting its biggest one-day rally in years, as recovering equity markets and news of diminished crude supplies set off a short-covering surge by bearish traders.
Snapping back fiercely from a deep two-month slump that reached 6-1/2 year lows this week, oil climbed as world stock markets rose on hopes Chinese government measures to stimulate the economy would pay off, while the dollar strengthened as risk aversion eased.
The rally was aided by news of a force majeure on Nigerian oil exports declared by Shell and private data indicating more drawdowns in crude this week at Cushing, Oklahoma, traders said. A big upward revision in second quarter U.S. economic growth helped.
More than reversing the past week's losses, front month Brent crude for October rose $3.32 to $46.46 a barrel, a 7.7 percent gain, by 12:33 EST (16:33 GMT), hitting a session high of $46.85. On Monday, the contract traded at a March 2009 low of $42.23.
It is on track for the biggest one-day gain for the contract since late January, when Brent ripped off six-year lows to rise by nearly $10 in three days, the start of a recovery that stabilized prices through the second quarter. Brent hasn't risen by more than 8 percent in a day since the financial crisis.
U.S. crude rose $3.32 or 8.5 percent to $41.92 per barrel, its biggest one-day percent gain since June 2012. It had hit a February 2009 low of $37.75 on Monday....MUCH MOREPreviously:
Good Moves In Oil, Petroleum Equities (XLE; XOP)
Oil turns lower as gasoline futures drop nearly 5%
We are betting that Monday's $37.76 print was the low. (for a while)Aug. 25
"Oil catches breath near six-and-a-half-year lows after falls"
"Energy Stocks Approaching Fair Value (XLE; XOP)"
"Oil Price Decline May Be Due For a (Brief) Pause"