In the middle of 2014 the price of oil was more than $100 a barrel; now it is hovering near $60. The FT’s Frederick Studemann asks Energy Aspects’ Amrita Sen and FT commodities editor Neil Hume whether low prices will become a permanent feature.
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Note the key level of technical support on the S&P ETF, SPY, at the 195-ish area. This is where the 50% retracement of the Oct 15 – Dec 5 rally and the 200-day moving average meet. A move to this level would represent a 6 1/2 percent correction from the recent high. Stay tuned.
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The rouble has moved almost 20 per cent in half a day. Lex’s Joseph Cotterill talks to Neil Buckley, eastern Europe editor, about the choices facing Russia’s President Vladimir Putin and the implications for the Russian economy.
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Global oil prices have fallen more than 40 per cent in the past six months to hit their lowest level in almost five and a half years. Chris Giles, economics editor, and Neil Hume, commodities editor, discuss what the fall means for the global economy.
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Global Macro Monitor 