The crude oil market has seen dramatic spikes starting with the Arab Spring in 2010 and continuing into this past June, but some investors are betting that the bull market for oil is over.
Oil started the year at $89 and rallied to $106 during the worst of the headlines out of Iraq.
"The Iraq news was supposed to be good for the bull ... but instead, that trend ended shortly after—a clear tell-tale that the bull market has run its course,".
European economic growth certainly is not pointing to any increase in demand for internationally priced oil. The euro zone's second-quarter gross domestic product showed flat growth, with the economy of European powerhouse Germany actually contracting.
Global demand appears to be waning elsewhere, China's demand for crude fell 2 percent year over year in July. This recent figure supported other weak demand data from the country. The various conflicts in the Middle east will have no value to the OPIC.
Just a thought
"The Iraq news was supposed to be good for the bull ... but instead, that trend ended shortly after—a clear tell-tale that the bull market has run its course,".
European economic growth certainly is not pointing to any increase in demand for internationally priced oil. The euro zone's second-quarter gross domestic product showed flat growth, with the economy of European powerhouse Germany actually contracting.
Global demand appears to be waning elsewhere, China's demand for crude fell 2 percent year over year in July. This recent figure supported other weak demand data from the country. The various conflicts in the Middle east will have no value to the OPIC.
Just a thought
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