Historical Oil Prices (via @zerohedge)

Subscribe to Campaigning blog feeds


It's worth taking a look at this chart of historical oil prices (hat tip: @zerohedge).

A quick scan of the chart suggests two stylised facts about oil prices:

  1. Prices typically rise because of war/geo-political tensions.
  2. Prices typically fall because of (i) an expansion of supply (in pre-WWII era) and (ii) an end to the war/tension coupled with a shift in demand (in post-WWII era).

Now I know this isn't always the case, but it's what I took away from a quick scan of the chart. That suggests oil prices could remain high as long as the Arab spring/Afghan & Iraq wars persist and BRIC growth drives global demand.


Media Team 020 7654 1576

Other articles from this author >
Online payments are not supported by your browser. Please choose an alternative browser or make payments through the 'Other payment options' on step 3.