oil prices

Sell-Off Intensifies

August 24, 2015

A sell-everything mood pervades stocks.  At 15,636 shortly after the open, the DJIA was down 5.0% on the day and 14.8% from its all-time high of 18,351 last May 19.  This was the first correction (a drop of at least 10%) since 2012 and just 5.2 percentage points shy of a bear market (20% or […] More

Stronger Dollar, Weaker Oil Price and a Russian Interest Rate Cut

March 13, 2015

The dollar advanced overnight by 0.9% against the kiwi, 0.6% relative to the Australian dollar, 0.5% versus the Swissie, 0.4% against the euro, loonie and sterling but just 0.1% vis-a-vis the Japanese yen.  The yuan is unchanged. West Texas Intermediate oil dropped 0.8% to $46.69 per barrel.  Governments by and large had been projected an […] More

Crude Oil Prices and U.S. CPI Inflation

February 23, 2011

Oil prices were volatile but ultimately trendless through the latter 1980s and the 1990s.  West Texas Intermediate (WTI) prices averaged $19.37 from 1987 through 1998.  Broken down into three-year sub-periods, the overage price of oil was $18.26 per barrel in in 1987-89, $22.18 in 1990-92, $18.03 in 1993-95 and $19.01 in 1996-98.  There are 42 […] More

Energy and Inflation

February 18, 2010

Most of the recent volatility in inflation has been caused by energy.  Canadian non-energy consumer prices, reported today, rose 1.3% both in the year to January 2010 and the 12 months to September 2009.  Total inflation in that interval, however, swung from an on-year decline of 0.9% to an increase of 1.9% over the same […] More