Oil up 8.6% on Monday

Uh oh.

“Today alone, WTI (April) Crude oil has surged from $90 to over $98 in electronic trading. As for Brent oil, it passed $108.50. As a reminder, and people forget this all too readily, each dollar jump in crude wipes out $100 billion in US GDP. That means that at face value, today’s move in the commodity complex, may have taken out as much as 5% of annualized GDP when fully processed through the economy!”


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