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Crude oil capitulates, ignoring bullish inventory numbers, and dropping $5 in the last 3 hours,...

Crude oil capitulates, ignoring bullish inventory numbers, and dropping $5 in the last 3 hours, now hanging at its low from the early May commodity panic. July crude is at $94.98. USO -4.4%, BNO -5.2%.
Comments (2)
  • woollyB
    , contributor
    Comments (1019) | Send Message
     
    Stocks and oil have been holding hands for years. Rising oil always justifies bullish demand-based economic outlook (i.e., higher stocks and higher oil), except when rising oil threatens the demand-based economic outlook (i.e., lower stocks and lower oil). The simpler, more accurate explanation: assets are rising and falling more or less in tandem on liquidity.
    15 Jun 2011, 02:13 PM Reply Like
  • kmi
    , contributor
    Comments (3984) | Send Message
     
    4+% move in oil, 2+% move in Euro today
    15 Jun 2011, 02:20 PM Reply Like
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