26 Aug '11, 8am

Countdown to $100 oil- deja vu?

Countdown to $100 oil- deja vu?

Data for Brent from the EIA , 1 year moving average roughly equals 5 trading days per week divided by 7 days per week = 261 days. FTSE 100 data from Yahoo . The FTSE 100 stock index provides valuation for the UK’s 100 largest companies. Whilst now top heavy in commodities stocks it still provides a broad market measure similar to the US S&P 500 index. Back in 2007 – 09 the top of the London FTSE 100 index was 6731 on 12th October 2007 (1). The top of the oil price spike was $143.95 on 3rd July 2008 (8 months after the market top(2)). Both oil price and markets had declined substantially by the time the Lehman induced crash came in October 2008. The stage appears to be set for a rerun of these events. The recent high in the FTSE 100 was 6091 on 8th February 2011 (3). The top of the recent oil price spike was $126.64 on 2nd May 2011 (3 months after the market top (4)). And t...

Full article: http://www.theoildrum.com/node/8273

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