Demand Destruction
“Soaring commodity costs are denting manufacturing activity in Asia and Europe and the outlook looks bleak as new orders drop off in the face of rising prices, surveys showed on Tuesday.” (article)
I don’t know… maybe its just me, but when I see the stock markets around the world decline to such levels, I get really cautious on Oil and other commodities.
When crude is being rejected by buyers, and then we see reports like the one listed above, anyone with a straight face wanna tell me oil at current levels is due to fundamentals?
