With all of the commotion taking place the world over, it’s hard to keep up. Trade truces between the US and China. Diplomatic and historic meetings in North Korea. Global stock markets making all-time highs and government debt making all-time lows. And lastly, but not least – the tensions that are taking root in the Middle East, particularly with Iran. These headlines create market moves and when this is coupled with the fact that the global economy is slowing down – this translates into lower demand for oil. For many major oil and gas exporting nations, such as the OPEC nations and Russia, they have agreed to continue with production cuts in effort to stimulate the price of crude. Despite their efforts, black gold traded down as low as 5% during the day. If we take a further step back, we see how the price of oil has been on a see-saw of a ride during the latter half of 2018, Q1 of 2019, and it still continues now. The Kapital News believes that given the supply and demand functions, that oil is likely headed lower. Unless of course there is further escalation between the US and Iran or other nations against Iran – then we could see oil potentially spike considerably. Pay attention to the price of oil – it can be a leading economic indicator and it can also be one that predicts negative outcomes – such as war.