Oil price was below US$3 (per barrel) before 1st energy crisis of 1973, and peaked at US$38 during the 2nd energy crisis of 1979. A 15-fold rise in 7 years. It repeated the 15-fold rise from 1999 low of $10 to $147 last week. Is $147 the top for this 9.5 year bull run? I have no idea.
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