Take physic, pomp

Chart of the day is…..

…..oil, and that weekly candle chart of the stuff we follow here from time to time.

The only real reason oil gets followed this way at IKN as it’s one of the better cost inflation indicators for the hard rock mining industry. After all, if it’s good enough as an indicator for the likes of Keith Barron, it’s good enough for me.

By the way, on an oily note here’s a link to where Setty picks up on an IPS note telling the world how a US oil exec needs to pay $482m in back taxes on the recent of Peruvian-based Petrotech to Colombia’s Ecopetrol. Bribery and corruption allegations woven into the story, too. Good stuff.

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