The oil shock builds

Thursday 25 January 2018

Oil is dragging its anchor as the USD crashes:

One does not have to look far to find who is buying:

The massive speculative long is a punt that inventory draw down will accelerate and that US shale will not overdo it this time, via WSJ:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.