Why the Markets Care About Oil (and Why High Prices Could be a Problem)
I'm surprised no one is really talking about this today...
But oil prices hit $93 a barrel - the highest level in more than 7 years.
I'm hoping the news stays in the background. Perhaps it's the oil market's way of forecasting better times ahead for the economy as we put the worst of the pandemic behind us. That's my hope.
But as investors & traders, we have to consider all possibilities, even when they seem unlikely.
As this video shows, the last time oil prices rose in this manner - the impact on the stock market wasn't as pleasant for investors.
Have a great weekend!