When I look at this chart of the Baltic Dry Index Vs Oil it seems to
me that the BDI leads oil by roughly 8 to 12 months.
Implication ... the oil price is going to stay low for at least
another 8 months without another QE ???
But then when I look at the logarithmic chart oil appears overdue for
a big plunge . Should we assume Iranian tensions are holding up the price
otherwise there would be a plunge ? If so then it raises interesting questions
about timing of the Iranian sanctions and whose interests are being looked