Thursday, 11 December 2014

Brent: One Remarkable Graph

The prize for most extreme oil-price movement of the modern age goes to 2008, of course - the winner by virtue of its double reversals in under 12 months.  There have been some crazy uni-directional lurches: the upward step-changes of 1973 (war) and 1979 (war); the blip of 1990 (yours truly was sitting at the desk that sold the single $40 cargo which defined the peak in that year as Saddam invaded Kuwait); and the slump of 1998-9 ($10 as recently as that).

2014 looks set to enter the gallery: pancake-flat plus parabolic plunge.  All those 'range-bound' commentaries we were writing 12 months ago, eh ?

Start thinking about your predictions for 2015: the year-end crystal-ball compo will be upon us soon.


1 comment:

Budgie said...

For those of us with oil shares gloomy indeed. But for the world economy it's like all the QE Christmases have come at once. Just in time to save the euro as well.