Should see lower oil prices once the strait opens.Stocks are celebrating the gains in productivityConsumers will feel falling oil prices “right away”The price of gas has to come down.
The AAA price of gas is currently at $4.49 down modestly from most recent highs near $4.54. A month ago it was at $4.10. A year ago it was at $3.18.
The price of crude oil moved to a low of $89.41 and below an upward sloping trend line from the February low. The inability to stay below that MA gave the buyers the go-ahead ot push higher.
This article was written by Greg Michalowski at investinglive.com.