Copper is mainly driven by economic factors while oil both by eco and geopolitical risks and both commodities now seem to tell a different story.
Wednesday, March 9, 2011
Oil Copper Spread
Prof Krugman highlights the following chart:
Copper is mainly driven by economic factors while oil both by eco and geopolitical risks and both commodities now seem to tell a different story.
Copper is mainly driven by economic factors while oil both by eco and geopolitical risks and both commodities now seem to tell a different story.
The Importance of Saudi Arabia
Ecnobrowser has an other excellent post showing how SA had been able to increase oil production in time of high shortfall elsewhere (Iraq War 1, Venezuelan strike in 02, Iraq war 2).
With the oil price at 106 "only" he doubts they will produce much more than in July 08 when the price was at 147.
With the oil price at 106 "only" he doubts they will produce much more than in July 08 when the price was at 147.
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