Obviously (to me atleast) the FED has been and continues to squeeze liquidity in the system to force the price of oil lower. SO the question is? How low does oil go on this move down? I say no way is the low in. During the 2016 low, there was someone who was very close to pinning the low.
Crude 10 year price charts below.
Crude 3 month chart WOW!!!
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Crude1year chart below
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Crude 5 year chart below
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Crude10 year chart below
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Heating oil 10 year price charts
Heating oil 3 months-WOW!
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Heating oil 1 year chart below-upside breakout
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Heating oil 5 year chart below-upside breakout
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Heating oil 10 year chart below
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Unleaded Gasoline Price Charts:
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5 year........are we headed back to the highs?
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Here are the gas prices at the pump. They SHOULD HAVE dropped lower than this!!!
The National Gas Price Heat Map from GasBuddy:
https://www.gasbuddy.com/GasPriceMap?z=4
Weekly US ending stocks of crude oil. Peaked in March 2017, then bottomed out on September 14th 2018, at the lowest in 3.5 years and had been increasing until 11-23 but plunged 2 weeks ago and fell a tad this week but still +37 million above the Sept low.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRSTUS1&f=W
Weekly ending stocks for unleaded gasoline. Barely peaked in Feb 2017. Have not changed a great deal in recent months.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WGTSTUS1&f=W
Weekly US ending stocks for distillate fuel oil(heating oil-especially used in the Northeast). Peaked in Feb 2017. Currently the lowest for this time of year since 2014.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WDISTUS1&f=W