WHY? Jobless good, crude down

Why crude oil futures is lower after jobless claims? thank you

 

Since this is new claims, less people driving to local unemployment office to file.

 

WHY??? The eternal cry of the confused fundamentalist..

 

+1

 

Many unemployed people who had been daytrading energy and stock index futures are selling out of their positions before starting their new jobs.

 

A down tick in claims doesn't really change the employment situation materially, so crude shrugs it.

It just isn't as easy as good news = crude up, bad news = crude down.

 

Look to China for all things crude related.

 

The answer to every question is......"China".

 

WTI and Brent spread?

 

"They" are favoring Brent over WTI in order to piss off the US. :eek: