For now the energy markets are stuck in a relatively tight range which can tend to lull some to sleep and potentially trick traders into taking risks that are maybe not especially wise for these markets.
Oil traders have to balance demand risks associated with a stock market sell-off vs. the possibility that the Fed may back off tapering after a terrible jobs report. An oversold market and an uncertain stock market may give the bears some pause.
The New Year is bringing clarity to the oil market and maybe to the stock and gold market as well. Oil prices got hit hard as weak data out of China and the reality of abundant supply stated to weigh on market sentiment.