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DZ

Crude Oil Prices Might Face Another Negative Jobs Report

David Zernhelt in Oil Trading

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David Zernhelt    + 6

DZ

The end of this week brings the Department of Labor’s “Jobs Report” and if it’s a bad report, which I anticipate it will be, then, oil prices once again take another plunge.  Not looking good at all for crude oil prices lately.  I am, however, anticipating a positive crude draw and gasoline draw in the next API and EIA reports.  So, hopefully, traders will get good oil ETF buys come next Tuesday and make their bacon on Wednesday.  Fingers crossed.  If the reports turn out to be negative and they bring down prices further, that should be a sign for everyone to put oil investing on hold indefinitely for sure.

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