Crude prices below. Quadruple top?? Longer term uptrend still in place!
Crude 3 month chart
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Crude1year chart below
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Crude 5 year chart below
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Crude10 year chart below
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Crude prices historically.
We are now into the time frame of a seasonal top!
Unleaded Gasoline Price Charts: Uptrend on longer term price chart still ......but maybe short term top(failed at resistence)
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5 year........are we headed back to the highs?
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Here are the gas prices at the pump. Should be lower than this!!!!
The National Gas Price Heat Map from GasBuddy:
https://www.gasbuddy.com/GasPriceMap?z=4
Weekly US ending stocks of crude oil. Peaked in March 2017 and have been falling sharply since then. Now the lowest in 3.5 years:
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRSTUS1&f=W
Weekly ending stocks for unleaded gasoline. Barely peaked in Feb 2017 but have not dropped much...........not that bullish:
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WGTSTUS1&f=W
Weekly US ending stocks for distillate fuel oil(heating oil-especially used in the Northeast). Peaked in Feb 2017 and had PLUNGED to the lowest in 4 years and almost the lowest in 10 years.
However, distillate stocks have increased a great deal recently(the last 3 months) and last week featured one of the biggest increases in history!
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WDISTUS1&f=W
I am still looking for oil for drop below $60 before the next wave higher. it may take a few more months. Perhaps a low in early 2019?