Commodity Chart - Crude Oil Futures: Long Term Chart
Crude Oil Analysis - June 29, 2006
Crude Oil Futures - The Crude Oil Long-Term Chart shows an amazing move from a historical perspective. As you can see, $40 per barrel was considered the high end of the range for this commodity market. External events such as hurricanes, namely Katrina, pushed the crude oil futures prices to unprecidented levels. Huge demand around the world from China and India are also responsible for the high price of Crude Oil.
Outlook on Crude Oil Futures: Have we moved into a new range for Crude Oil or is this an extreme price spike that will revert back to the norm? Tough question, but I would have to guess prices will fall over the next few years. Remember the news looks the best for prices at the highest point and during that time, everyone always says its different this time.