A comparison between the 30 year yield and bond prices shows that when they Hit extreme levels, ( bond prices hit a trend line
high, and yields a trend-line low, crude oil
tends to bottoms after a few months. Also in the shorter term there tends to be a negative correlation between bond prices and crude oil
prices( or positive between yields and crude prices). At some point we expect interest rates to head higher- not by much but enough no put downward pressure bond prices. This would imply that crude prices should catch some bid. That being said all Commodities
are still in a Longer term Bear
market, and hence the upside in crude prices most likely will be limited.