West Texas Intermediate (WTI) futures settled at $44.45 a barrel yesterday.  It is still trading under $45 as of now (about 10:20AM).

In June it was trading at about $108.

Is this good news?  Depends on who you are.  It sure is for consumers.   And it doesn\’t trouble me a bit that it is putting the wood to countries like Russia, Venezuela and Iran, among others.  But it is a disaster for jobs in the energy sector.

Where will it bottom out?  When?  No one knows.  And no one knows that the ultimate fallout will be.

Let\’s all keep a very watchful eye on this one.

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