Chart of the day-oil

Oil remains at a lofty $66 and change per barrel. So is there any hope for lower prices? While the geopolitical risks associated with the oil supply are difficult to predict, there is some hope on the demand side. Today?s chart illustrates that the average monthly price of a barrel of West Texas Intermediate Crude has had a tendency to decline (on average) towards the end of the year suggesting that the global demand for oil tends to slow during most of the cold winter months.