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WTI crude breaks the late-December low in $3.20 slump to start the year

WTI crude breaks the late-December low in $3.20 slump to start the year

The trade last year was to buy oil and short Tesla. This year so far it's to short both.

Tesla shares are down 13.4% but oil companies aren't doing much better with WTI crude oil down $3.49 to a session low of $76.74. Selling accelerated into settlement and crude has completely reversed after hitting a four-week high in early trade.

The market is struggling with over-supply as SPR sales continue and China suffers a brutal wave of covid. Some market participants are looking towards... Read More

Posted: Jan 3 2023, 19:32
Author Name: forexlive
Views: 110853

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