February 21-2014
SWING — Boy, is this a roller-coaster! But it continues to be a roller-coaster within very narrow confines, roughly from $100 to $110 a barrel. It’s been in that narrow band for the last 12 months, as the monthly average chart below shows. Historically, the oil price has soared and slumped. And the daily price above looks at first like soaring and slumping, But shifts within a 10 percent band are nothing historically.