Energy Futures Crumbled To Lowest Levels

Energy futures crumbled to their lowest levels of the year overnight as a combination of over-supply & economic concerns continue to weigh heavily on the market. Prices have rebounded sharply off the overnight lows however (crude oil is trading up $1 and products are up 3 cents) as equities are finding renewed strength after another big sell-off Monday.
Depending on which headline you read, the sell-off in equities may be caused by falling oil prices, or the fall in oil prices may be caused by the drop in stocks. The reality seems to be that both asset classes are struggling through a crisis of confidence lately that’s threatening to become a full-on bear market if they don’t snap out of their funk soon.
The FOMC begins a 2-day meeting today. According to the CME’s FEDWatch tool, traders are putting a 71% probability of another interest rate hike announcement tomorrow. That probability has been declining lately as economic concerns have increased, and the US president launched an unprecedented barrage criticism on the central bank.
Latest Posts
2 Largest Global Economies Negotiate In Trade War While Energy Market Takes Downward Turn
Modest Gains For Energy Prices
Modest Gains For Energy Prices
Energy Market Drifting Lower Reversing Course From Overnight Buying
Week 16 - US DOE Inventory Recap
Energy Futures Seeing Moderate Recovery After Post-Holiday Losses
Social Media
News & Views
View All
2 Largest Global Economies Negotiate In Trade War While Energy Market Takes Downward Turn

Modest Gains For Energy Prices
