We’ll have to agree to disagree.
Don’t forget we’re talking about the stock market. It has a devilishly independent “mind” of its own. The drop in oil prices is cited everywhere as a cause, but you have to go outside the US media to find out about the black-market oil.
Many energy experts say the world market, which consumes about 90 million barrels a day, has one million barrels more than it needs, although that could easily change if the Islamic State, also known as ISIS, attacked Baghdad and threatened the southern Iraqi oil fields, or if militias suddenly renewed their blockades of oil ports in Libya.
Times seems to think if ISIS grabs more oil fields the price will go up instead of further down. Hmmm.