Commodities are getting slammed as crude oil is falling due to the latest energy inventory data showed
inventories building and demand reducing. It is a clear indication that higher prices are hurting crude demand. This is reverberating across the commodity complex as we are getting to see more clear indication of demand destruction due to higher prices. This is just US data, so although demand maybe dropping in the US, it could still be rising across the globe. If global demand keeps growing then this drop in oil may be short lived.
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