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Tag: Saudi Price War

  • Sky is falling along with OIL

    Sky is falling along with OIL

    Saudi Arabia kicked off an Oil price war in retaliation for Russia not supporting further production cuts.  Oil dropped to nearly $27/barrel before settling around $31.  This is the hardest drop in Oil since the commodity collapse of Feb 2016.  (see chart) The S&P 500 broke below its 2 year moving average and so far…