Crude oil prices were under pressure after Mario Draghi magic seemed too eased off. Oh, sure, after Mario Draghi said he was disappointed with growth and the lack of inflation, oil got a bounce. Yet, when Asian and European stocks gave up the gains, oil prices falter until a headline came out about those Chinese Military ships that are moving off of the coast of Alaska.
Crude oil prices have been very volatile this week following its technical breakdown at the start of this month. Though prices have bounced back strongly, mirroring similar moves in the Chinese and European equity markets, they remain vulnerable nonetheless.