Traders get nervous as crude oil closes at new highs. Oil over $80 for the first time in a year has stock traders talking, worried that higher commodity prices would again be a burden to consumers.
Peter Boockvar and other traders have noted the big move in commodities this month:
1) gasoline and crude futures today rising to a one year high
2) corn near 4 month highs
3) wheat at a 2 month high
4) soybeans near 2 month highs
5) sugar near a 28 year high
6) cocoa at a 30 year high