The petroleum markets are having a hard time deciding whether they should rally on the cold temperatures, or sell-off on a forecast that puts most of the eastern half of the United States to back above normal temperatures.
With geopolitics less of an issue or price driver than it was the last few weeks the main oil price drivers are likely to be any and all macroeconomic data on the global economy with oil fundamentals equally important.
Intermarket analysis wasn't always how analysts looked at the markets. But once commodities and financial markets entwined, traders needed a new way to analyze market moves. Here is John Murphy's view on how and why that happened.