NRGZ - Risk-Off Looms In The Oil Market: Brent Oil Services Companies And OIH Are Too Cheap

Crude oil is the energy commodity that powers the world. When the global economy expands, demand for energy rises, and when it contracts, crude oil often moves to the downside. Perhaps the most dramatic example of how recessionary forces on a global scale impact the price of crude oil futures came during the 2008 global financial crisis. In July 2008, the price of nearby NYMEX futures rose to an all-time high at $147.27 per barrel. The housing crisis in the US and sovereign debt debacle in Europe caused the global economy to grind to a

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