Read this article this morning. Very interesting the effect that this virus is having on world market systems.
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Oil prices drop to lowest levels in a loooooooong looooooong time.
- Thread starter toyotafan
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"International benchmark Brent crude tumbled as much as 10% to $30.49 a barrel as of 8:00 a.m. in New York. West Texas Intermediate fell as much as 8.13% to $29.15 per barrel at the same time. "
And when you think about inflation averaging about 2% per year (roughly) ... $30 in 1996 money is exactly the same as $60 in 2020 money.
And when you think about inflation averaging about 2% per year (roughly) ... $30 in 1996 money is exactly the same as $60 in 2020 money.
People will start loosing jobs because of the oil prices. Our hours are being cut rite now.
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