From my Google news feed this morning, dueling headlines about oil prices:
I wonder whether CNN Money thinks that the "worst" for oil prices is a low price or a high one? Let's take a look!
Crude oil prices plunged to $42 a barrel last week, sinking into a bear market amid renewed concerns about a massive supply glut that just won't go away. Some even feared a return to the sub-$30 prices that spooked global investors early in 2016.There you have it. In CNN's mind, the "worst" thing that can happen to oil prices is that they fall and give us cheap energy.
But there are signs that the notoriously-moody oil market may have gotten a bit too pessimistic. After crashing more than 10% in June, crude prices have rallied four straight days to climb back above $44 a barrel.
Anyway, once again, what Warren Buffet said about stock-price forecasting (and by extension, commodities pricing) is verified.
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