Another ugly day in oil
More talk of OPEC cuts has done nothing to prop up oil as global economic concerns hammer commodities and risk assets.
WTI crude is down $2.22 to $54.94, just above last week’s low of $54.75
The drop in oil is fueling a rally in USD/CAD, with the pair up 76 pips to 1.3250. The recent high was 1.3263.