For instance, the blowout U.S. jobs numbers for January released Friday, on the back of what the Fed calls disinflation. Historically, there has been a strong positive correlation between jobs and crude prices. Oil eventually capsized in a sea of red with gold and other commodities as the dollar’s rebound from 10-month lows made raw materials priced in the U.S. currency costlier for non-dollar holders.
(Bloomberg) -- India is playing an increasingly important role in global oil markets, buying more and more cheap Russian oil and refining it into fuel for Europe and the US.Most Read from BloombergChina Moves From Contrite to Confrontational Over US BalloonUS Downs Chinese Balloon, Prompting Protests from BeijingTrump Offers $1 Million Bond to Appeal Clinton Suit SanctionsWhat You Need to Know About the Alleged Chinese Spy Balloon Shot Down by the USFrom China to Big Sky: The Balloon That Unnerv
"Everything we have seen over the last year tells us not to underestimate that Russia hasn't got this figured out," Kpler's Matt Smith told Insider.