Oil lingers below $29 US a barrel after sanctions on Iran lifted - Business - CBC News
Economists warn Bank of Canada rate cut could erode
J.P. Morgan goes totally bearish on oil, slashes 2016 crude forecast to $31.50 - MarketWatch
This is just a small sampling of the bearish news that is out regarding the low price of crude oil. Most agree that the price of crude oil is going lower. All this bad news after a year or more of consistent declines. How many times are they going to regurgitate the same old story? Of course with sanctions now lifted crude oil will really accelerate its decline or will it?
As we can see on Sunday oil made another bottom, but the waves starting out look very corrective and my bet would be that we will see lower prices. So far this low is at $28.40 but also creating another record gold/oil ratio of 38:1.
The economists are also warning about our Candaina dollar, but this warning is about 7 years too late.
Our new Prime Minister has no clue what to do as he just keeps regurgitating, "we have to create new jobs". I laughed when I saw a picture of "Pretty Boy Trudeau" riding a moose!