In less than six months, crude oil has dropped to $72 per barrel, affecting US energy stocks, the Russian rouble, junk-bond prices – and portfolios
Ah, nostalgia. Can it really be less than six months since we were agonizing about higher crude oil prices and how they would wreck the US economy?
Back then, chaos in Iraq had propelled the global price of crude to north of $113 a barrel while the US benchmark price soared to nearly $107 a barrel.