Inscrit le: 19 Juil 2017
|Posté le: Lun 18 Sep - 12:33 (2017) Sujet du message: Crude Oil Is In A Bear Market; Now What?
|It has been a rough year so far for crude oil with yesterday’s close at a fresh nine-month low officially pushing the commodity into bear market territory. Sparking much of the continued weakness is the usual worry that rising supply from the U.S. and Libya will continue to offset production cuts from the Organization of Petroleum Exporting Countries (OPEC).
Per Ryan Detrick, Senior Market Strategist, “Crude oil moving into bear market territory has many concerned that this is a sign of a potential global economic slowdown. We don’t see it that way, as this pullback has been, and continues to be, supply-driven, as opposed to demand-driven. Also, crude oil in a bear market is not uncommon, as 35% of the time since 1985 it has traded at least 20% off its trailing 52-week high.”
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