China Commodity Carnage Spills Over To US Markets - Crude, Copper Clubbed
WTI Crude prices have puked back all the "yay we have a new Saudi Oil Minister" algo-buying gains and even with just modest strength in the USD Index, the bloodbath overnight in Chinese commodity markets appears to be spilling over. Gold and Silver are also being punished as commodity currencies collapse.
Copper clubbed in China trading but fading more as US opens. Crude gave it all back and PMs stumbling as JPY strengthens significantly
Of course, there is another factor one must weigh as to why Crude is crashing... Gartman!!