40 Percent Of January Job Cuts Due to Oil: Challenger22percent
Despite a brief rally above $50 in the past week, oil prices were crushed yesterday falling to around $48.50 after US crude stockpiles were larger than estimated. Today, crude oil is rallying $1.22 to $49.70 after it found a relief rally from yesterday’s carnage. Despite very low oil, US shale producers are still producing oil on a large scale. Corporate wise, other than earnings hits, we have seen limited bankruptcies and defaults due to the crashing oil. However, what is not immediately able to be . . .
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