There Goes Oil
An hour ago we said: "Watch for the reaction in crude following the vote passage, and
especially following Bloomberg headlines that France has launched an all
out attack." Well the attack is still pending, but the oil reaction is here (and nobody could have seen it coming). WTI just passed $103. Demand destruction or no demand destruction, here we come. And just imagine what happens when Japan is fully back on line again (in about a year at which point the US will be between QE 4 and 5).
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