The stock market index futures have risen upon the weekly release of the EIA crude oil inventory numbers that indicated a larger-than-expected rise in crude oil inventories. Crude oil has sold off forcefully, dropping nearly $5 a barrel on the news. Needless to say from these two charts, they are directly correlated.
S&P 500
Crude Oil
Wednesday, June 25, 2008
Stocks Swell as Crude Oil Swoons
