Crude oil prices are selling off in fear! Fear that a falling stock market may slow demand and fear that a prediction by the International Energy Agency (IEA) that oil demand might be lower, might be right this time. Yet, the biggest fear that is rattling at least one major commodity brokrage firm is the exposure to the short volatility trade.
The war of words between the leaders of the United States and North Korea continue to dominate investor sentiment. After the initial stock market sell off, U.S. indices recovered to close at their highest levels on the session yesterday, only for the index futures to tumble again as the new trading day got underway overnight in Asia.