Eleven years ago, on Monday Sept. 24, 2007, the price of Brent crude closed just below $79 per barrel, not far from where it is today. F Three days later, Brent closed above $80 for the first time in history. Less than 10 months after that, prices closed at an all-time high of $146. Past prices are not necessarily a guide to the future, but the events of 2007/08 are a reminder that price moves are highly non-linear, especially around turning points in the cycle. Price moves tend to accelerate in the run-up to cyclical peaks and troughs, as the market struggles to overcome a worsening deficit or surplus. As […]