WTI Crude Oil: Will the Boom and Bust Cycles Continue?
2023.09.06 03:09
Over the past couple of decades, has been actively spiking and plummeting between $40.00 and $80.00 to briefly test and spike the waters above $100.00, creating “froth,” which has easily been blown off, as shown on the monthly chart below.
Crude Oil Futures Monthly Chart
In so doing, a “median” price of $60.00 has been established, to where Oil either retreats in times of abundance (and lower prices) or surpasses on its way to scarcity (and higher prices).
As long as the world’s supply of Oil remains in the ever-changing hands of differing political idealogues with competing energy agendas, uncertainty will continue to dominate its price, producing wild fluctuations in the years to come.
For now, the “median” price and “fair value” seem to be fixed at $60.00.
