NEC Hassett: Energy prices will drop once the Strait of Hormuz is opened

• Should see lower oil prices once the strait opens.
• Stocks are celebrating the gains in productivity
• Consumers will feel falling oil prices “right away”
• The price of gas has to come down.

The AAA price of gas is currently at $4.49 down modestly from most recent highs near $4.54. A month ago it was at $4.10. A year ago it was at $3.18.

The price of crude oil moved to a low of $89.41 and below an upward sloping trend line from the February low. The inability to stay below that MA gave the buyers the go-ahead ot push higher.

This article was written by Greg Michalowski at investinglive.com.