Chart of the Day - Thursday, June 9th, 2022

By Patrick Dunuwila

June 9, 2022

Going back to 1970s (using ⁦@Bloomberg⁩ historical crude price index), quite rare to see oil prices spike at this fast of an annual rate (orange) and not have a recession associated with it (late 1980s and early/mid-2000s were exceptions) pic.twitter.com/As2mnWEVH3
— Liz Ann Sonders (@LizAnnSonders) June 9, 2022

Today’s Chart of the Day was shared by Liz Ann Sonders (@LizAnnSonders). It's a chart of Crude Oil over the past five decades, along with a 12-month % change indicator (orange). Crude Oil is up about 70% over the past year. Liz Ann points out that Oil price spikes of this magnitude are often associated with recessions. Will this time be different?

Filed Under:

Commodities,

Crude Oil,

Liz Ann Sonders,

TCR Chart of the Day

Patrick Dunuwila

Editor, The Chart Report

Patrick Dunuwila is the Co-Founder and Editor of The Chart Report, a popular technical analysis newsletter read by thousands of investors worldwide every day. Patrick is a Chartered Market Technician (CMT) with over a decade of market experience. Prior to launching The Chart Report, he worked as a proprietary trader at Benchmarq Technologies in New York City. He's originally from Syracuse, NY, and currently resides in San Diego, CA.

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Chart of the Day - Thursday, June 9th, 2022

Patrick Dunuwila

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