From: MarketWatch
Oil futures rose Friday on signs of tightening supplies, headed for a second monthly gain in a row, with global crude prices holding on to four-year highs.
“Until sizable supply is offered up by OPEC and with pandemic market chatter raging about the $100 per barrel market, its hard [not] be blatantly bullish,” said Stephen Innes, head of trading at Oanda, in emailed comments.
Crude 10 year price charts below.
Up sharply and breaking out to the upside.
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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Heating oil 10 year price charts
Heating oil 3 months-upside breakout
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Heating oil 1 year chart below-upside breakout
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Heating oil 5 year chart below-upside breakout
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Heating oil 10 year chart below
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Unleaded Gasoline Price Charts: Uptrend on longer term price chart ...... but not as strong as crude or heating oil......but also breaking out to the upside?
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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.
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 over 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). history!
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WDISTUS1&f=W