Crude oil prices are back on the decline, and the rapid descent from favor for oil was highlighted by the most recent commit of traders report. According to data from ICE, net longs in Brent crude oil futures contracts have fallen by 61.6% from the high hit in August. The prospect for tapering by the Federal Reserve and concomitant rise the US dollar, not to mention a rise in a rise in 10-year note yields have robbed oil and gold of any nascent inflation-hedge attractiveness…
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