RE:RE:Talk of middle east ceasefire causes a 3.52% drop in oilIn other news, the oil market is down 3% on an apparent rumor the Saudi are ready to raise output. I would imagine that is completely unsubstantiated as according to the Financial times it came from uncited sources? As the largest producers in OPEC, the Saudi's are the stongest proponent of the production cuts so clearly this is likely fabricated news. So here's a good example of a Rumor apparently swaying markets but fundamentals are largely ignored. Shorters are not investors, they only look to make profit.