URL has been copied successfully!
Carvana Co. (NYSE:CVNA) shares are trading lower Monday. The Nasdaq is down 0.08% while the S&P 500 has gained 0.21%.
Crude Oil Surges Past $100
WTI crude oil futures rose to $101.7 a barrel on Monday. This puts oil on track for a record monthly surge of over 50% in March, according to Trading Economics.
The spike comes as President Donald Trump threatened to obliterate Iran’s oil infrastructure.
Impact On Vehicle Affordability
That backdrop likely weighs on Carvana because CVNA tends to trade as a high-beta, sentiment-sensitive consumer discretionary name.
When oil prices rise, investors often anticipate higher inflation risk, increased pressure on household budgets, and a more constrained environment for consumer spending.
Elevated fuel costs …
Please follow us:
This post was originally published here
