Oyster Stew! WTI Crude Spot Rises 21%, US Jobless Claims Up 4.43 Million (But Slowing), New Home Sales Decline -15.4% MoM In March

I feel like we are in the Three Stooges film “Oyster Stew.” Every time we look for good news, more bad news come out.

But here is some good news.

WTI Crude oil is up 21.26% this morning .. to $16.71 a barrel (still low).

commodthur

And while US jobless claims rose 4.43 million the past week, the US is several weeks past the peak. (Knock on wood).

peakpast

But back to crude. Saudi oil is still negative for heavy and medium crudes to the USA.

saoil

Now for the oyster eating the cracker.

US new home sales fell -15.4% MoM in March.

nhs154

As I said, oyster stew.

Screen Shot 2020-04-23 at 10.05.59 AM

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