Six reasons why Oil si dropping in Barry Ritholtz's view:
1. Fast money rotating out of commodities and into tech;
2. Cooling economy consuming less energy;
3. No major supply disruption from weather or Middle East;
4. Psychology peaked earlier in year;
5. Stretched consumer shifts behavior;
6. And lastly, the Strong US Dollar (Crude is priced in greenbacks)
Source:
Why is Oil Dropping (and what might its impact be)?
Barry Ritholtz - The Big Picture
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