Crude prices are approaching a critical level; NYMEX Crude has — quietly — risen 15% since its early Autumn price of $27. Its now approaching critical resistance at its post-war highs near ~$32.25. If prices pop over that level, you could see a clear run towards $36-38. While I expect that unlikely to happen, if it did, it would be quite problematic.
Source: WTRG Economics
We discussed earlier this month how Oil prices can be a leading directional indicator for the stock market.
Link found via The Capital Spectator