Well This Isn't Going To Be Good For The European Economy

The EU just downwardly revised its economic forecast for 2012, and now here’s more bad news.

Priced in Euros, Brent Crude just hit its all time high.

This chart of Brent priced in Euros isn’t quite updated to the latest data, but you get the gist.

chart

Photo: FRED

As you can see, priced in regular dollars, Brent still isn’t quite there towards the peak.

chart

Photo: FRED

And then just to put things in perspective, here’s WTI crude (which is what we more normally quote here in the US) priced in dollars. Still WAY off its old highs.

chart

Photo: FRED

(Via Luis Benguerel)

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