Oil prices (CL=F, BZ=F) fell on Monday following reports that Israel and Hezbollah may be nearing a ceasefire deal. Stephen Schork of The Schork Group tells Yahoo Finance there has been a “bearish environment overall” in the oil market. He says, “This is clearly a demand-side issue with oil. And the issue has and will be, it has been for the last three years and will continue to be, China … the expected growth of China continues to hit snags,” adding, “there’s a greater risk in oil moving lower from this point than higher.” Watch the video above to hear what Schork is telling his clients about where oil prices are headed in the coming weeks.
#youtube #oil #news
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