by Mickey Fulp, The Mercenary Geologist
Early this year I presented a musing documenting seasonal moves in the price of gold over the past 20 years (Mercenary Musing, January 4, 2016).
Employing the same tools, I now report our research on the price of crude oil from 1996 to 2015.
In a series of normalized charts, I will show that regardless of overall year-over-year bull, bear, or neutral market conditions, there are predictable intra-year trends in the price of the North American benchmark oil, West Texas Intermediate crude (WTI).
The chart below plots the 20-year record of oil prices. Please note that all data is spot WTI, Cushing, Oklahoma, at daily New York close: