Jan 06/15 – What does the low oil price say about the global economy?

The carnage in the oil square continues this morning. Yesterday the near month WTI contract was down over $2 and closed right at $50. That big round figure was blown out overnight as we are already down another $1.15 this morning. We are now trading at levels last seen in the depths of the 2008 credit crisis.

I had thought that the $55 level would hold, …