– Commodities Crushed: WTI Plunges To $48 Handle, Copper Breaks Key Support (ZeroHedge, Feb 23, 2015):
Perhaps the world is beginning to realize that “it’s the demand, stupid” as crude oil prices are collapsing this morning (not helped by “all out production” news from Oman). While ‘markets’ rallied peculiarly after last week’s epic surge in inventories and production data, that has all been given back as one trader noted “the market got ahead of itself, even though the rig count has been falling it is not until mid-yr that we are going to see some impact on supply.” WTI is back under $49. To complete the gloom, Copper is probing lower, breaking key support with projections to 222.50 if this move takes shape.
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Omen shows me this is an economic war against the west……….and they are on board. Meanwhile, they build pipelines, create employment, and grow, while the west fights to keep juggling all the indebtedness balls in the air. When a little country like Greece has the power to pull down the entire western house of cards, it is no wonder Russia offers them food and money to leave the EU…….and it is all a matter of time.