Oil surges 8 pct as U.S. rig count plunges, shorts scramble

``The late-session surge was primed by Baker Hughes data showing the number of rigs drilling for oil in the United States fell by 94 - or 7 percent - this week. Earlier gains were fueled by reports of Islamic State militants striking at Kurdish forces southwest of the oil-rich city of Kirkuk.'' -- This oil collapse was overdone, fueled by the pestilence of central bank mo-mo money we are all suffering in recent years...