October 25-2013
IS THERE SOMETHING DISCERNIBLE? — The roller coaster goes on-and-on, up-and-down. There is really no discernible pattern in the shifts and shunts of the daily oil price now (above). The monthly average (below) also looks a bit like a roller-coaster. But within those shifts and shunts, the price has really been level for three years running. The average price in 2011 was $107.46, in 2012 it was $109.45 and so far this year it has been $105.78. These are the only three years in history that the price has been above $100 for the annual average.
