I'd be surprised if oil ticks much lower. Stocks are good, but you only have to have Iran start to threaten the loss of barrels. I expect the Iranians to take this to the wire.
I'd be surprised if oil ticks much lower, stocks are good but you only have to have Iran start to threaten the loss of barrels. I expect the Iranians to take this to the wire.
I suspect jewelers and other fabricators probably haven't got enough stocks yet. So we can expect some more physical buying.
Rising U.S. (crude) stocks could put a bit of pressure on prices, but I suspect we are at the time when stocks will stop rising and will start falling soon.
I think this demand-destruction idea is being a bit overdone at the moment. The stocks numbers were very bearish, but I think that it's still difficult to read through a lot of this data noise.
The stocks numbers are extremely bearish. You wouldn't want to be short though. You've just got to watch what's going on with Iran.
The market is expecting another significant jump in U.S. stocks later today, and this focus has pushed geopolitical uncertainties off to the side, for now at least.