Oil Is Tanking Again

And there goes oil again.

Now it’s below $US88.00 per barrel. Here’s a chart from FinViz:

This is all part of the big story of global financial markets right now.

The dollar is strengthening, expectations of a Fed rate hike are growing, and commodities are getting whooped. Also there’s a big slowdown in Europe, China, and elsewhere in the emerging world.

The glass half empty view: The decline in oil signals a slowing global economy and is bad news for some key oil exporting countries.

The glass half full view: Cheaper gas, more take home pay for consumers!

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