Since the 1973 when the Organization of Petroleum Exporting Countries (OPEC) unleashed their oil embargo during the Arab-Israeli war and engineered the first violent oil price rise, there have been three major oil price spikes. After the first two spikes prices eventually dropped to levels below where the rise began, after the third they fell seventy five percent. The first spike began in 1979 with the Iranian revolution but prices did not return to pre-revolution levels until seven years Read More...

Filed under: Fundamental