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Oil futures are now in a bear market, declined over 20%. The price is now showing up as a recession/stagnation based beatdown. Final price support at $94. OVX (oil volatility) is beginning to pick up.

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U.S Consumer Price Index blows out at 8.3%. Estimates were at a declining peak of 8.1%. Oil, gas, food and electricity prices are now parabolic in a correlated incline. Central Bank reluctance to trigger above 2% rate increases maybe about to change. We could witness a dramatic lifting of rates throughout 2022.

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