{"id":11493,"date":"2015-01-28T22:53:47","date_gmt":"2015-01-29T03:53:47","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=11493"},"modified":"2015-01-28T22:53:47","modified_gmt":"2015-01-29T03:53:47","slug":"crude-still-has-further-to-fall","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2015\/01\/28\/crude-still-has-further-to-fall\/","title":{"rendered":"Crude still has further to fall"},"content":{"rendered":"

West Texas Crude has been falling since breaking support at $75\/barrel, following through below $50\/barrel. A test of 2009 lows at $30\/barrel is likely unless there is major disruption to supply.<\/p>\n

\"WTI<\/p>\n

When we adjust crude prices for inflation, they remain high by historical standards. Prior to the China boom of the early 2000s, the ratio of WTI Crude to CPI had seldom ventured above $20\/barrel when measured in 1982-1984 dollars (shown as 0.2 on the chart below). After the dramatic fall of the last 3 months, the adjusted price at the end of December 2014 (in 1982-1984 dollars) is still $25.20\/barrel (0.252 on the chart) — well above the former high.<\/p>\n

\"WTI<\/p>\n","protected":false},"excerpt":{"rendered":"

West Texas Crude has been falling since breaking support at $75\/barrel, following through below $50\/barrel. A test of 2009 lows at $30\/barrel is likely unless there is major disruption to supply. When we adjust crude prices for inflation, they remain high by historical standards. Prior to the China boom of the early 2000s, the ratio … <\/p>\n

Continue reading “Crude still has further to fall”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[44,13],"tags":[854,1828,2529],"class_list":["post-11493","post","type-post","status-publish","format-standard","hentry","category-crude-oil-natural-gas","category-inflation-economy","tag-cpi","tag-inflation","tag-nymex-wti-light-crude"],"yoast_head":"\nCrude still has further to fall - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crude still has further to fall - the patient investor\" \/>\n<meta property=\"og:description\" content=\"West Texas Crude has been falling since breaking support at $75\/barrel, following through below $50\/barrel. 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However, Brent crude May'26 futures have jumped to $100.33 per barrel, warning of another spike in inflation. Core CPI slowed to an annual rate of 2.5% for the\u2026","rel":"","context":"In "Crude Oil & Natural Gas"","block_context":{"text":"Crude Oil & Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"CPI & Core CPI","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-03-11-cpi-core.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-03-11-cpi-core.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-03-11-cpi-core.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":58323,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/10\/14\/stabilizing-crude-oil-prices\/","url_meta":{"origin":11493,"position":1},"title":"Stabilizing crude oil prices","author":"Colin Twiggs","date":"October 14, 2024","format":false,"excerpt":"Volatile crude oil prices damage production capacity and economic growth and cause volatile consumer price inflation. At the height of the 2020 pandemic, Nymex WTI crude oil prices fell to an unprecedented low of -$13.10 per barrel as demand dried up and oil storage facilities reached capacity. Producers faced a\u2026","rel":"","context":"In "Crude Oil & Natural Gas"","block_context":{"text":"Crude Oil & Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"Nymex WTI Crude","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-10-14-crude3.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-10-14-crude3.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-10-14-crude3.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":11949,"url":"https:\/\/thepatientinvestor.com\/index.php\/2015\/06\/17\/crude-where-next\/","url_meta":{"origin":11493,"position":2},"title":"Crude: Where next?","author":"ColinTwiggs","date":"June 17, 2015","format":false,"excerpt":"Nymex Light Crude plotted against CPI gives an historical perspective on current crude prices: high prior to China's entry into the global energy market, but low relative to prices since then. Expect strong support at the 2008 low. Has fracking permanently suppressed oil prices, or will production dwindle over time\u2026","rel":"","context":"In "Crude Oil & Natural Gas"","block_context":{"text":"Crude Oil & Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"Nymex WTI Light Crude and Brent Crude","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-06-18-crude-cpi.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-06-18-crude-cpi.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-06-18-crude-cpi.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":17348,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/11\/09\/gold-crude-weaken-as-the-dollar-lifts\/","url_meta":{"origin":11493,"position":3},"title":"Gold & Crude weaken as the Dollar lifts","author":"Colin Twiggs","date":"November 9, 2018","format":false,"excerpt":"Nymex Light Crude is testing support at $60\/barrel on the long-term rising trendline. Breach would confirm a primary down-trend with a long-term target of $45\/barrel. Crude and gold tend to rise and fall together. The long-term chart below compares gold and crude prices adjusted for inflation (CPI). The bear rally\u2026","rel":"","context":"In "Crude Oil & Natural Gas"","block_context":{"text":"Crude Oil & Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15440,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/06\/12\/crude-tests-support-at-45barrel\/","url_meta":{"origin":11493,"position":4},"title":"Crude tests support at $45\/barrel","author":"ColinTwiggs","date":"June 12, 2017","format":false,"excerpt":"Nymex Light Crude is testing support at $45\/barrel. Breach would offer an immediate target of $40. Follow-through below $40 would signal another test of the 2008\/2016 lows at $30. The chart below plots long-term crude prices adjusted for inflation. Recent falls show real crude prices returning to their previous trading\u2026","rel":"","context":"In "Crude Oil & Natural Gas"","block_context":{"text":"Crude Oil & Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":49930,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/03\/16\/what-really-drives-inflation\/","url_meta":{"origin":11493,"position":5},"title":"What really drives inflation?","author":"Colin Twiggs","date":"March 16, 2024","format":false,"excerpt":"Every month, after the FOMC meeting, Fed Chairman Jay Powell fronts the media and tells everyone how the Fed is determined to maintain the fed funds rate in the same 5.25% - 5.50% range in order to contain inflation. But he is well aware that the Fed funds rate has\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"CPI & Fed Funds Rate Target (Minimum)","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-03-15-cpi-ffr.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-03-15-cpi-ffr.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-03-15-cpi-ffr.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/11493","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=11493"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/11493\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=11493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=11493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=11493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}