Yes outlaw, the oil rout in recent weeks, especially the last days was indeed an amazing thing to watch. Show me the expert which predicted it at those levels and was not almost anytime wrong in the last ten years or so. This is why I try to avoid that area like the plague. I'm glad that I'm not long on commodities.
As I have been bearish on the Russian economy in the long run I have to especially careful not to overvalue short term events which support my view. Much depends on how long the oil price stays at such or somewhat higher levels.
P.S: Russia also suffered btw some losses when they exchanged hard dollars against soft gold.
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