Usually not a good sign for stock markets in general if crude oil prices cool off..it often means growth is cooling off..esp at a time when OPEC is shrinking production.
Watch for this to be a lead indicator for global slowdown.
There could soon be news that the US starts building up the strategic reserves which they used when crude was above $120. If on this news crude doesn't move up it means the market is pricing a recession + then crude can be shorted.
Watch for this to be a lead indicator for global slowdown.
There could soon be news that the US starts building up the strategic reserves which they used when crude was above $120. If on this news crude doesn't move up it means the market is pricing a recession + then crude can be shorted.