Oil Collapses and Copper Crashes 8% in Day – Great Recession Cometh?

GoldCore
GoldSeek.com
Wednesday, 14 January 2015

Oil prices fell another 1 percent this morning and continue their collapse – down 57% in just over 6 months. Copper crashed 8% on the London Metal Exchange, plunging to 5 and a half year lows.

Doctor Copper – Usually a good indicator for economic trends and markets via Marketwatch

Oil fell to fresh six-year lows and has fallen almost 60 percent since June 30, 2014 to levels last seen in early 2009 after the 2008 crash (see chart).

February Brent crude dropped another 79 cents to $45.80 a barrel and West Texas Intermediate crude for was at $45.34, down 55 cents. Copper for delivery in three months on the LME dropped as much as 8.7 percent to $5,353.25 a metric ton, the lowest intraday price since July 2009. Nickel slid 4.6 percent and lead fell 3.8 percent to the lowest in more than two years.

The Rest…HERE

This entry was posted on Wednesday, January 14th, 2015 at 2:22 pm and is filed under Economics, Oil. You can follow any responses to this entry through the RSS 2.0 feed.