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The oil canary and the collapse of crude prices

The shift in the supply and demand equation for oil calls for a shift in how we analyse the Nymex oil chart.

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An oil tanker sailing out of the Port of Corpus Christi, Texas.

AROUND six weeks ago, the Texas port of Corpus Christi acted as a canary in a coal mine. This refers to a method used to warn miners of the build- up of dangerous gasses in the mine. The canary would die first, and so give the miners warning to evacuate. In this case, the Texas canary gave

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