Oil prices crash nearly 10% in 5 days over fears around weakening global demand.
Even as OPEC just extended oil production cuts of 2 million barrels per day, oil prices are nearing their 2024 lows.
Recent data suggests that US economic activity in manufacturing and construction is slowing, a recessionary sign.
As a result, oil prices are down 16% from their April peak and up just 3% year-to-date
Markets are not buying the "soft landing" narrative.
![Oil prices crash nearly 10% in 5 days over fears around weakening global demand.](https://ussnsimg.moomoo.com/sns_client_feed/71565416/20240605/605384ec86ac4734b36c50cbfa85db2a.png/big?area=100&is_public=true)
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Andrea Connally : not complaining a lot on my end. Dividend reinvests in a few days.