Copper has spoken. Its voice is the loudest of the commodities, and it’s not optimistic for the global economy. The coronavirus–which had by the time of writing claimed 490 lives and infected over 24,300 people–is battering all commodities right now, but it’s copper that the oil bulls should be watching because this is the barometer of global economic health, which speaks volumes about future oil and gas demand. Flights to China have been cancelled, and Chinese manufacturing plants have been closed down, with rumor of force majeure in the works for commodity supply contracts. By Monday, copper had seen a 12% drop in price. Economists in Beijing think Q1 growth rates could drop a percentage point or more. That’s bad news for copper above all, and what’s bad for copper is bad for oil and gas. What Does Copper Have To Do With Oil? Because it’s tied so closely […]