WEB Notes: We continue to see major deflationary pressure placed on commodities.

Russia’s oil-dependent economy appears headed for a second year of recession, and Energy Minister Alexander Novak says the blame falls squarely on the Saudis.The Russian gross domestic product fell by 4 percent in November from its level in the same month in 2014, and had shrunk 3.7 percent in October from its levels a year earlier, the Economy Ministry reported Monday.

Source: Oil Crash Shrinks Russian GDP, Energy Minister Blames Saudis | Wolf Street



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