Forget rising gasoline prices or the fact that there was no more oil released from the Strategic Petroleum Reserve (SPR). The oil and product markets are infected with Fed anxiety. Oh sure, they might be worried about OPEC and the upcoming Russian sanctions and stupid price cap but really it was Fed anxiety that shook the oil trade.
Market Takes a Dive
Yesterday the markets veered to the Downside, will we see the same today?
Crude Oil Falls on a Stronger Dollar and Energy Demand Concerns
Mar WTI crude oil (CLH23 ) on Monday closed down -1.78 (-2.23%), and Mar RBOB gasoline (RBH23 ) closed down -8.77 (-3.38%). Crude oil and gasoline prices Monday retreated, with crude falling to a 2-week low and gasoline dropping to a 1-week low. A stronger dollar (DXY00 ) Monday undercut...