Crude oil slump pressures other commodities

Nymex crude oil futures prices have slumped this week and hit a nearly four-week low. Worries about weaker global energy demand following more weak economic data coming out of China, the world’s second-largest economy, have hit oil prices hard. Crude oil is arguably the leader of the raw commodity sector. If crude oil prices continue to decline, many other commodity futures markets are likely to do the same. Stay tuned! Jim Wyckoff