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What a few weeks it has been in the commodities markets. Crude oil fell 50% from early April to its current price while gold has continued its march higher.
Looking longer term, we had to adjust our y-axis on the continuous prompt-month WTI chart below as the May contract collapsed below $0 for the first time in history. It swung wildly for easily the biggest daily dollar and percentage move since the EIA has been tracking data back to 1983. The May contract is gone, but June is showing signs of similar volatility.