Chart of the day is...

...crude oil, monthlies, back to 2003:

I remember the last time this chart was featured, I got comments like "WTI doesn't matter any longer, it's all about Brent". To borrow from Dr. Johnson, I refute it thus. It might drop a bit further, it might not, all depends on just how uncontrollable the world scene really is and honestly, I don't see our world leaders in a frothing panic. Then once it's done dropping it'll float back up to that $110/bbl mark (just don't ask me when).

OT: Not so much posting yesterday due to a big local blackout. It's one thing having alternative sources of power, quite another when your ISP shuts down as well. The good news is that I caught up with a bit of the dead wood ink reading that's backed up to the horizon at IKN Nerve Centre™.