No, I think prices usually LEAD the fundamentals. Just watch what happens when more people understand how this will unwind supply/demand wise...and how quickly sentiment for crude will swing.
Plus....The MM shorts won't let that (price stagnation) happen. Short covering usually isn't naturally a slow process, and I can almost see how they are holding back in the trading volumes today.
There's some rotation in who's increasing short positions right now. It'll really move up when they are both covering the shorts. Maybe another week or two for that.
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