Oil is dropping rapidly once again - while the rest of its commodity peers remain tied to the USD movements this week. The reason? More market speculation that the House of Saud is doing everything in its power to send crude to lows just ahead of the presidential election, even as Infinite QE takes the Dow to 36,000. Just as we wrote yesterday [4].
WTI is down 6.2% this week as Copper/Gold/Silver hang to USD's strength-implied weakness...
[5]
and from pre-Bernanke...
[6]
Chart: Bloomberg