Chart Of The Day-Oil

The price of crude oil has begun rise once again. Today?s chart provides some perspective to the latest price spike with a long-term view of West Texas Intermediate Crude. One point of interest is that oil is trading near 21-year highs but nowhere near the inflation-adjusted highs of 1980. It is also interesting to note that most oil price spikes were a result of Middle East crises and often preceded or coincided with a US recession.