The chief economist at Charles Schwab warns that oil prices could suddenly rise and lower stocks.
In a new interview on Bloomberg Television, Liz Ann Sonders he says that if the US-Iran conflict keeps the Strait of Hormuz closed long-term oil prices could reach $150 per barrel.
“I think it was last week when the leaders of Chevron and Exxon came out and said that based on the low stocks that without the opening of the Strait of Hormuz and getting the oil flowing again they quoted $150 in a few weeks.
We are still in an incoherent zone between oil prices and the stock market…
Sonders also cautions that stocks may correct sharply as investors adjust their investments based on market conditions similar to those experienced in the first quarter of the year.
Its weakness in February and March hit 9% … the correction of the excess of sentiment is done through a different exchange than the correction that occurs simultaneously at the level of the index. “
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