Crude Oil Is Spiking

Crude oil is going bananas.

On Wednesday, crude prices were up more than 2.5% with West Texas Intermediate crude up above $49 after touching $47 a barrel overnight. 

On Twitter, Eddy Elfenbein noted that crude has been down for 22 or the last 29 days.

So, still a month-long disaster for the commodity.

Stocks and oil both fell again on Tuesday in what has been a tough start to the year, but on Wednesday, stocks were on pace for their first gains of the year and crude was taking back some losses. 

FinVizCrude is rallying. For once.