CME/Nymex September crude slipped 15? to close at $75.24/bbl

摘要

Oil futures fell to an intraday low of $74.86 after Japan reported lower than expected economic growth in the second quarter. Meanwhile, China also showed reduced growth as the Chinese government imposed heightened credit standards in order to mitigate rapidly escalating real estate prices. In the last several trading sessions, oil has also moved nearly in tandem with the equity markets and stocks are not doing well right now as household employment is down for a third month. History shows that when the household employment is down three months in a row, the US is in a recession or about to head into one about 98% of the time.