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Why Oil Prices Have Been All Over The Place
The price of crude has been on something of a roller-coaster since the start of the year. From a sudden drop in the first days of January, it climbed through the third week, only to have a hard drop a couple of days ago. Naturally there have been news events that have driven these moves, which we’ll get to in a moment. The underlying theme, however, is general uncertainty. Without a clear direction for the global economy, traders are swinging from optimism to pessimism rather quickly. This, in turn, leads to wider swings in commodities that are barometers for economic activity. Oil, naturally, is one of the top ... (full story)