can you tell me if possible the price trend for the last 50 years?..
2006-08-07 23:19:32 · 1 answers · asked by robin 3 in News & Events ➔ Other - News & Events
During the 1950s, a US study done by American geophysicist, M. King Hubbert showed a trend of a bell curve shape!
Over the last 30 years prices of oil experienced some spikes but it has always settle back down to the normal levels.
A couple of years ago oil was about $30 and it was below $15 few years back ~ 4 to 5 years ago maybe.
The increase in prices is unavoidable, it may go up to $100 soon, with all whats going on in the middle east, the major oil supplier to the world!
As for the last 50 years, the trend is described as increasing, rather than decreasing, hence; supply.
Between 2002 through 2004, the price doubled which is more the the triple rate of increase in the period of 1990 through 2000!
Prices in late 1998 went as low as $10!
According to NYMEX, Last price recorded for Crude is 76.86... which is a drop of -0.12%
I hope I made sense :)
2006-08-07 23:58:07 · answer #1 · answered by SAM 5 · 5⤊ 0⤋