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It Takes a Lot of Energy
Manage episode 388376258 series 3392107
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Energy prices keep slipping. It's a big deal in the continuing fight on inflation. The price for West Texas Intermediate (WTI) Crude Oil has declined 22% in the fourth quarter. It's down 7 consecutive weeks, undercutting $70 a barrel at one point, the lowest since July. It sure looks like prices are going to stay low for a while. The 6-month time spreads continue to trade in contango. That suggests a global Oil glut through next Summer.
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