On November 17th, one week before Thanksgiving, the heating oil market took a sharp dive. It was only down five cents per gallon, but that was a definite reversal of the upward trend we had been experiencing for the previous 45 days. Over the next week, the market tumbled a total of 24 cents, bringing lower retail prices with it.
But look again at that chart. It’s a six month chart, and it shows that oil has gone (and let’s count…) Up, Down, Up, Down, Up, Down, Up, and finally Down again. Wasn’t that fun?
Why has the price fallen so fast? There are four domino’s to this one.
Continue reading ‘The Thanksgiving Price Tumble or The Brilliant Clarity of the Rearview Mirror’
