Chart of the Day Crude oil has been rallying over the past six weeks and is once again approaching $50 per barrel. Some of the reasons for this move are the current bout of cold weather, uncertainty over the upcoming Iraqi elections, and Iran. Iran is of particular interest since tensions have been escalating over the last week. Negotiations between Europe and Iran appear to be deadlocked over the key issue of uranium enrichment which has coincided with an increase in the number of reports in regards to using force against Iran. Today's chart illustrates the degree by which OPEC oil production plunged and oil prices surged following the last Iranian crisis (1979). It is also worth noting that following the 2001 US recession, the world has relied on OPEC to increase production and meet the planet's ever-increasing appetite for oil. Stay tuned...
Notes: - Which way is oil headed and what does it mean for the stock market? Find out with Barron's recommended Chart of the Day Plus.
Source - EIA
Rate today's Chart of the Day Excellent54321No good
By voting every day you help us get you the charts you want to see.
Quote of the Day "History is a vast early warning system." - Norman Cousins
Events of the Day
February 02, 2005 - Groundhog Day February 06, 2005 - Super Bowl XXXIX February 08, 2005 - Mardi Gras
Mailing List Info Chart of the Day is FREE to anyone who subscribes.
-- To subscribe, simply type in your email address at the top left of this page.
-- To unsubscribe, simply fill in our unsubscribe form.
-- To change your email address, first subscribe with your new email address and then unsubscribe your old email address (as described above).
Chart of the Day provides this mailing list to subscribers without warranty of any kind and accepts no responsibility for its accuracy or for any consequences of its use.