What Iron Ore Prices Tell Us About Where Crude Oil Is Headed ...Middle East

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What Iron Ore Prices Tell Us About Where Crude Oil Is Headed
source : OILPRICE ( Middle East ) () 19
Historically, the prices of two of the world’s biggest commodities, crude oil and iron ore, are strongly correlated, which is hardly surprising given that they are the lifeblood of the global economy including in the transport, industrial production and construction sectors. However, the past few weeks has seen a peculiar disconnect with crude prices declining and iron ore prices enjoying a massive rally.  Indeed, Brent futures hit an intraday high of $99.56 a barrel on Nov. 7, but then dropped 25% to a low of $75.11 on Dec. 9. Meanwhile,…

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