Crude Oil = $49

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Despite numerous OPEC production cuts, Crude Oil breaks $50. This morn, its trading between $48-49, as demand destruction and deflation have their way.

> December Crude Oil Futures, 30 minutes click for updated chart dec-crude-5-days.png December Crude Oil Futures, Daily click for updated chart

dec-crude-daily.png

Source: Barcharts


Originally published at The Big Picture blog and reproduced here with the author’s permission.