Oil up sharply again today:
From oil and gas investor:
Crude holding the longer term uptrend. Bull flag currently?
Crude 3 month chart
Crude1year chart below
Crude 5 year chart below
Crude10 year chart below
Unleaded Gasoline Price Charts(not as strong as crude or heating oil): Uptrend on longer term price chart......bull flag short term(or top?)
5 year........are we headed back to the highs?
Here are the gas prices at the pump:
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:
Weekly ending stocks for unleaded gasoline. Barely peaked in Feb 2017 but have not dropped much...........similar this month to July 2017...still fairly high:
Weekly US ending stocks for distillate fuel oil(heating oil-especially used in the Northeast). Peaked in Feb 2017 and have PLUNGED to the lowest in 4 years and almost the lowest in 10 years:
By Jim_M - July 30, 2018, 1:58 p.m.
Even if crude stays at the price it is at, a long roll will net you about $2k a month on 1 contract.
By metmike - July 30, 2018, 2:18 p.m.
Good point Jim!
Crude for the front month is priced higher than back months...........this is an inverted price structure and considered bullish. Contango (sounds like a Spanish dance).
Normal backwardation is when prices are higher in the back months.
Release Date: August 7, 2018
Global liquid fuels