Today's rumor mill will apparently focus on whether OPEC will or will not miraculously push the "gush" button. After earlier we reported rumors that OPEC would raise oil supplies, and quoted the Kuwait oil minister, now the Saudi oil minister was caught on tape saying there will NOT be an extraordinary meeting. Which means that the Italian guy was spreading false rumors. Which means that whatever the offer for Italian CDS is, it is cheap. WTI, naturally, rallies on the news.
Obviously, alternative measure of printing oil will now have to be evaluated. Below is an artist's impression of just one of these (and yes, it is Kool-Aid flavored - which means that yes, you can eat, er drink, it).
via: William Banzai