Oil surges 10% (please read the post for the 'but')

The near CL contract, WTI for May is up from lows under $14.50 to above $16, a rise of over 10%

Its around $15.60 as I post but that's not the but.

Just wanted to point out (ICYMI on the notification of this I posted earlier) that the volume of trading has shifted to the June contract, leaving the May contract thinly traded and that has been a contributor to this 10% bounce.

A 10% move in a financial market is a big move …. but for oil, its been a wild session (the week has only just begun!) and maybe folks not thinking 10% is a big deal!

Having said this the June contract bounced around 4.4%, which is also a huge move.