After a short-lived, half-hearted rally, oil prices are down again with a vengeance, retracing levels last seen before the assassination of General Soleimani by the American government. WTI prices surged to nearly $70 per barrel after the killing ; the latest trajectory has taken prices below $59 per barrel even as efforts at de-escalation continue; the US and China close in on a Phase One Trade Deal , while another weak job report revived concerns about an economic slowdown. In a nutshell, geopolitical issues have taken a backseat while supply/demand worries rule the roost again. Volatility in the crude oil market is nothing new, really, but can become exacerbated when there are so many major catalysts pulling in different directions. However, with some major overhangs now seemingly out of the way, traders will be focusing on one metric to gauge oil demand: crack spreads. Source: Nasdaq There‚Äôs A Demand […]