NYMEX:CL1! Light Crude Oil Futures
A comparison between the 30 year yield and bond prices shows that when they Hit extreme levels, ( bond prices hit a 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 are still in a Longer term market, and hence the upside in crude prices most likely will be limited.