Mixed Energy Market Outlook
While the outlook for the global economy has been undermined in the last 24 hours by significant weakness in global equities yesterday and by rising fears of surging US infection rates today the August crude oil was able to reject a trade below even number $35.00 this morning.
While the natural gas market has not shown a positive tight correlation with the ebb and flow of global economic sentiment, we can’t help but think a market in a well-defined downtrend will see further pressure if we finish this week with a major risk off event.
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