Friday, June 15, 2007

From Chart of the Day- Crude Oil Price pattern

Found here:
Due in large part to ever increasing demand as well as geopolitical tensions, oil has rallied and now trades above $67 per barrel. While the geopolitical risks associated with the oil supply are difficult to predict, today's chart illustrates that the average monthly price of a barrel of West Texas Intermediate Crude has had a tendency to rise from July to October as more cars hit the road for the summer driving season. Increased risks on the supply side (i.e. supply disruptions) occurring in unison with increased demand make for a volatile mix indeed.

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