Oil Is Getting Crushed

Oil is down another 1% in early going this week.

But the big story is that for the last three months, oil has been getting clobbered (and crucially at a time of heightened geopolitical stress).

One worry is that the decline in crude represents a flagging global economy, a possibility given the stagnation in Europe, and weakness in China.

And in fact, China reported particularly weak data this weekend, which is also bringing down the Australian and New Zealand dollars.

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