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 StockCharts.com; chart creation and annotation by the author)

Crude Oil prices since year 2000

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The Special Note summarizes my overall thoughts about our economic situation

SPX at 1946.41 as this post is written