Crude Oil
As you can see in the long term chart below, oil is a volatile commodity, with it's price swinging wildly in a range from less than 1 gram per barrel to almost 5 grams per barrel. But this chart also shows that these oscillations are part of a sideways price movement centered around 2.5 grams per barrel. Crude's current price around 2 grams is a bit below it's long term average.
Of course, the fluctuating value of the dollar makes it very hard to gauge whether oil prices themselves are rising or falling… Oil today at 2 grams, is about the same as it was in the early 1950s; but if you measure the price in US dollars, you would get the impression that it is about 30 times more expensive today!
Crude Oil, West Texas Intermediate From 1950:
click on the chart to download a pdf
NYMEX Cushing OK Crude Oil Futures:
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really very interesting and very impotent blog i benefited a lot thanks for such a nice blog you content of this blog is really fact and your point of this blog really noticeable thanks for that useful info really thanks by heart.
yes a very impotent blog
..and I too have benefited so much.. you're the best and I like being here and.. Ok seriously though…where do you get your charts that show data that far back? Interesting to see long term moves over several decades.
You can find lots of interesting data including crude oil prices back to 1986, and gasoline prices back to 1973 at http://www.eia.doe.gov/
great, thank you
Hi Charles, thanks for a truly excellent site. I've just subscribed and am wondering if you'd consider publishing an historical chart of natural gas priced in gold? Many thanks!
Hi again Charles,
I notice that these charts for crude oil are based on West Texas Intermediate (WTI) crude – today between $98 and $99/barrel. But that's the crude gushing into the U.S. from the many huge pipelines from Canada. The rest of the world pays for "Brent" crude, currently almost $120/brl, a solid 20% higher.
What are your thoughts?
Many thanks.
The printed money and also the Oil are loossing power we need to ask what have real Value and act acordingly.
Regards
Milton
Posicionamiento en Buscadores
Howdy, dudey.
Have you ever considered charting Brent crude, priced in gold?
I notice that Brent tracks CRB (as a proxy for "stuff") more closely than WTIC.
Cheers!
DP