I don’t know if it’s the answer, but the asshats in New York State announced an end to all fracking in their fair state this morning. That could have caused the day traders to jump in. Billy Joel may have thought he was on solid ground when he wrote, “New York State of Mind”. Lately that particular state of mind seems pretty twisted IMHO.
Essentially all of the gains from earlier in the day are now gone.
http://online.wsj.com/mdc/public/page/2_3028.html?category=Energy&subcategory=Petroleum