Following a surge in the Oil price over about 3 years from 2003 to 2006 (Post the Equity market collapse of 2000-2002 and the accompanying aggressive Fed easing) when Crude virtually tripled in price, we saw a correction into 2007 that fell just short of the 200 week moving average. This became a platform for the next move higher. This move was once again a virtual tripling in price but in half the time of the 2003-2006 move (18 months) between 2007-2008. With a backdrop (In hindsight) that was weakening dramatically this was the “straw that broke the camel’s back” as the negative feedback loop moved through housing, ... (full story)