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The crash in oil prices might be about one simple thing
The crash in oil prices might be all about the dollar. In a note to clients on Monday, Tobias Levkovich at Citi asked a simple question: What if the collapse in oil prices is all about the dollar? Levkovich notes — as others have before — that the price of West Texas Intermediate crude and the value of the US dollar are inversely correlated, meaning one drops as the other rises. We've seen a huge rally in the dollar over the past 18 months, while the price of crude has collapsed. Recently, we've heard that a lack of demand, a glut of supply, and the collapse in commodity prices signal terrible things about the ... (full story)
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