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A year ago today crude oil closed at 15-year high. Why that's particularly important
The financial world is consumed with inflation worries as the US 2-year yield spikes to 5.06% but this is an important chart to keep in mind.
A year ago today, WTI crude oil closed at $123.70, which is the highest dating back to 2008. From the $130.15 peak, it's down 41%.
As we lap those peaks, it's an extraordinary deflationary driver that's destined to be repeated again in the natural gas market when it laps the September peak (-75% since then).
It takes time for energy co... Read More
Posted: Mar 8 2023, 19:25
Author Name: forexlive
Views: 110783