Update from CME: "The following actions will be taken on CME Globex Crude Complex Futures and Options markets prior to the market opening: All day and session orders, including GTDs with today's date will be cancelled. All GTCs that have been acknowledged will remain working."
Something odd is going on in crude quotes which halted at 2:04pm, following what may have been an algo* gone berserk in advance of what may or may not have been a block order. The feed has since stopped transmitting. The initial read is "technical difficulties" out of the CME Globex crude exchange. Someone take quote stuffing a little too far today?
Or, Maybe someone is planning a large "Order" predicated upon an Iran Situation
* Algorithms An algorithm is a specific set of instructions for carrying out a procedure or solving a problem, usually with the requirement that the procedure terminate at some point.The word "algorithm" is a distortion of al-Khwārizmī, a Persian mathematician who wrote an influential treatise about algebraic methods. The process of applying an algorithm to an input to obtain an output is called a computation