Oil Declines Amid Bank Concerns, US Caution on Stockpile US household debt surged
by $394Bil to a record $16.90Tril now add the prime lending rate increasing something will break. We'll learn tomorrow if today's sell-off was just a delayed reaction to yesterday's events or was the price of Oil hammered lower on growing concerns with further downside to come. The way I look at it is that in the next few weeks, there's no panic about Oil demand tightening dictating $75+ Oil doesn't mean that it won't go higher, right now they can justify Oil trading in the $60+ Biden will make sure that there's plenty of Oil is not what the market needs, OPEC isn't coming to the rescue but the economy would be in serious trouble if Oil hits $85+ and Gasoline heads higher that will be another nail in the US economy hitting the brakes. Challenging times are in Oil's forecast, have to read the market tomorrow but the US exiting with Oil at the low of the day is not what you want to see. We survived before and we'll survive again using caution.
Oil Declines Amid Bank Concerns, US Caution on Stockpile Refill - BNN Bloomberg US Debt Balance Total 
US Average Monthly Prime Lending Rate 