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Oil Keeps Peaking Lower And Lower

Oil Keeps Peaking Lower And Lower
Stock Market1 min read

Caught in the big commodity downdraft is oil, as prices of West Texas Intermediate crude fall below $90.

That's notable, but what's also interesting is the big picture.

If you look at a chart going back several years, you can see that there are recurring peaks and troughs, but that each peak is a bit lower than the one before.

And this year the peak really fizzled out fast.

More evidence of a big secular trend for oil (lower demand, higher supply) and all commodities (higher supply, slower global growth, and a speculative unwind).

Via FinViz:

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