From the high of $147 a barrel in 2008 -- to the low of $32 in 2009; from the high of $107 in 2014 -- to the 2016 low of $26 a barrel, crude oil has been on a wild ride. The swings have investors glued to their screens, and not just investors -- after all, oil prices determine how much you pay at the pump and the grocery store. Well, see if these free resources help you tame this "wild Bronco."
In the aftermath of the April 7 missile strike on Syria in retaliation of President Bashar al-Assad's chemical weapons attack, the mainstream financial experts agreed: "The geopolitical premium [for oil] is on the rise." And yet, oil prices have faltered since, plunging 4% on April 19. What gives?
Steve Craig, the Editor of our Energy Pro Service, explains that when looking across the energy complex, 2017 is playing out according to his Elliott wave script.
The search for recoverable crude never stops. But, the search is more active at some times than at others -- drilling for crude is immensely expensive and full of risk. Yet here's what is especially relevant to our forecast: The search for crude is a collective activity. So it's no surprise that the oil rig count reflects a textbook Elliott Wave pattern. See it for yourself on our unique chart.
Crude oil prices fell sharply on April 5. Analysts blamed the dip on a surprise jump in U.S. crude inventories. But take a look at this chart before you accept that explanation.
Supply and demand factors do influence crude oil prices -- as with any physical commodity, for that matter. However, crude oil futures are also a financial market. Here's what that implies.
Crude Oil is one of the most volatile markets on the planet. Find out what Jeffrey Kennedy, EWI's expert commodity analyst, called for at the beginning of 2016 and see how that forecast turned out.