three themes: oil tanks, yields fall & stocks fade
November 17, 2023Wall St eyes higher open as yields slip on rate cut bets
November 17, 2023Crude oil futures are recovering some of the previous day’s losses while concerns about weak demand and a big recent build in inventories continue to weigh on the market. WTI for December is up 1.5% at $74.02 after falling nearly 5% yesterday to a 4-month low. “The downward trend remains in place and more selling should be expected, despite relief rallies,” says Spartan Capital’s Peter Cardillo in a note.