The price of oil has crashed this week and fell so low that the futures price for WTI went negative! I see this as a sign of a demand collapse and deflation for the moment in the economy, but beyond the markets and the US economy there are also geopolitical implications in the price drop. In this podcast I talked with J.P. Sottile of newsvandal.com as he just put out a very interesting post on this very topic you can find here.
Is oil kicking the bucket? Can Saudi oil princes survive now?