Time turns trend. - W.D. Gann
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Why Oil Prices Are Lowest They've Been in Months
The free-fall in crude prices is unlikely to reverse course without significant signs that the world economy is improving. Oil, like stocks and other risk assets, fell sharply Thursday as fears of slowing global growth gripped markets, which were also beset by speculation about pending bank downgrades and Europe’s sovereign crisis. But the price of oil has a separate significance in that it is an important lever on the world economy, and its decline could help consumers. Crude prices have fallen 30 percent from their March highs as oil production globally rose to a record level in May, according to the ... (full story)
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