The Key Thing To Remember About Oil Prices

$100 oil has a lot of people screaming INFLATION, but remember one thing. Before Qaddafi, oil (WTI) was trading in the mid-$80s, a level that isn’t nearly so remarkable, and if anything begins to look like fading demand.

With copper and the rest of the industrial commodities down sharply over the past several days, the inflation line clearly makes less and less sense.

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