Oil Prices May Not Reflect Demand Signals

Oil price have not reflected real demand signals for many, many years now. We are living in a world where traders take their cues from the equivalent of chicken bones and coffee grounds rather than from analyzing the real world. In a healthy economy, the financial world is a thin layer on top of it. Today, the financial economy is a world to itself that does not need its grounding in the real world. It will all end in tears but until it does, traders will take their chicken bones.

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