Crude Oil Price Chart From The Year 2000 – January 13, 2016 Update

One notable aspect of the financial markets is the continuing sharp drop in crude oil prices.  Other commodities have also been under selling pressure.  I view these declines, as well as other aspects of the overall financial system, to be manifestations of “deflationary pressures,” of which I have extensively written.

As discussed by the Wall Street Journal article of yesterday (January 12, 2016), titled “U.S. Oil Settles Above $30 a Barrel, After Dipping Below for First Time Since 2003“:

Big oil companies deepened their cutbacks to staff and investment Tuesday, as the price of oil briefly slipped below $30 a barrel for the first time since December 2003.

For reference purposes, here is a chart of (spot) Light Crude Oil, from the year 2000 to yesterday’s closing price, depicted on a weekly basis using a LOG scale, with price labels:

(click on chart to enlarge image)(chart courtesy of; chart creation and annotation by the author)

Crude Oil prices since year 2000


The Special Note summarizes my overall thoughts about our economic situation

SPX at 1946.41 as this post is written