Why the Falling Price of Oil is Good for Some and Bad for Others
Expert on oil commodities says past couple weeks are “grand ultimate” value crash
The price of oil has been dropping over the last month or so and analysts say it could drop even more. As we’ve heard analysts say, that’s good for drivers but maybe not so good for investors and for the stock market. Detroit Today guest Leon LaBrecque is a managing partner and CEO of LJPR Financial Advisors. He closely watches the price of commodities like oil.
“We haven’t seen a decline like this since 1986,” says LaBrecque. He says the past few weeks have actually represented a “grand ultimate” of oil value crashes. But he says anyone who is invested in oil should not panic and sell off those investments now. LaBrecque says this may be the right time for investors to actually buy more stock in oil.
