Crude Is Tumbling (Again)
While mainstream media desperately played up the fact that oil prices were 'off the lows' this morning as some kind of positive news, that narrative is now dashed to winds of under-demand and over-supply. With WTI Crude prices testing the multi-year cycle lows once again, crashing below $54, we wonder how long before the Yellen effect wears off...
Since FOMC, Oil -3.8%, Energy Stocks +8.6%
And this morning's 'exuberance' over higher oil prices have been eviscerated...
Stocks can't decide if this is great news or terrible...
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