Bullish reversal in crude
Oil has been the most-volatile place to be in the past month. At the start of last week there was a reversal lower in crude after the initial Iran-sanctions pop.
This week, there’s a reversal to the upside underway. Crude prices initially fell today on global growth worries on Trump’s escalating tariff talk. Now the market is having second thoughts prompted in part due to worries about an Iran-US conflict.
Oil is up $56-cents to $62.51 after falling as low as $60.04. Crude bounced right off the big figure, which was also the old March high.