Posted: May. 28th 2019
Although we are only halfway through 2019, it has been an eventful year. We started the year with crude oil prices at their low after suffering steep declines in the fourth quarter of 2018 driven by fears the U.S. Federal Reserve would continue raising interest rates and slowing global growth. Early in the year after being chastened by President Trump’s repeated attacks, the U.S. Federal Reserve reserved its policy placing a “hold” on future interest rate hikes. Traders and large institutions took the reversal as a sign that the world’s principal central banks would continue to support financial assets, including energy, resulting in a steep rebound in the first quarter of 2019.