A significant reason for the recent highs in oil price, measured in USD, is simply continuing fall in value of the USD against other currencies. - from The Oil Drum
It will look a bit like a curved saw, as oil prices seasonally change as the Northern hemisphere goes in and out of driving seasons, hurricane season and heating season. But the trend is the horizontal peak of a bell curve, which means from here it is downwards.
2 comments:
Wow. That is quite a slide! Would love to see the graph from before 9/11
It will look a bit like a curved saw, as oil prices seasonally change as the Northern hemisphere goes in and out of driving seasons, hurricane season and heating season. But the trend is the horizontal peak of a bell curve, which means from here it is downwards.
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