The resilience in oil in the past two months has been remarkable.Crude has risen for seven straight weeks. It gapped lower at the open today but even
The resilience in oil in the past two months has been remarkable.
Crude has risen for seven straight weeks. It gapped lower at the open today but even with the rout in pretty much everything, it held up ok. At the peak, the losses were around $3.
Now crude is trading in positive territory at $121.00. That’s up from a low of $117.48 less than an hour ago.
Oil equities are some of the most hard-hit today. I suspect some of that is selling winners to fund losers but a big part of it is worry that a recession will kill demand for crude.
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