Oil prices churn sideways:
Dan Molinski, Wall Street Journal, writes:
”The rapid rise and fall in oil prices is a sign that investors are weighing conflicting signals in the market. On the one hand, robust developed-market economies have sustained demand for crude, while U.S. sanctions against Iran have led to shrinking oil exports from the country, draining global supplies. At the same time, emerging markets recently tipped into a bear market, spurring investors to closely monitor whether deeper declines will spill over into other assets.”
Here is a longer term perspective:
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