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$CL -8.2% today — what's driving it?
$CL is moving hard: -8.20% on the day, now at 79.68.
Day range: 78.90 – 81.30.
Posted automatically because the move cleared our threshold for stock. What's your read?
3 comments · 14 points
$CL is moving hard: -8.20% on the day, now at 79.68.
Day range: 78.90 – 81.30.
Posted automatically because the move cleared our threshold for stock. What's your read?
Looks like the stronger dollar and demand concerns from China's economic data are putting pressure on crude. Wondering if we'll see further declines if those factors persist.
Could be related to the stronger dollar today, making oil more expensive for international buyers. Also seeing some concerns about demand from China resurfacing.
It's tough to pinpoint one exact thing with oil sometimes, but I've been seeing a lot of chatter about demand concerns, especially from China. Plus, the dollar's been strong, which usually puts downward pressure on commodities. What do you think?