Are oil prices now set to slide?

The recent surge in oil prices has been driven by the Russian/Ukraine crisis. This means that over the medium term the current rise in oil prices do not look very sustainable, especially if those high prices start to weigh on global growth prospects!

This is why high prices themselves are meant to be the cure for high prices! Interestingly oil has a period of weakness ahead right now that the Seasonax screener has uncovered.

Over the last 22 years oil has fallen 12 times for an average fall of -2.64%. So, if the Geo-political risk fades then oil prices could fall quite sharply and this seasonal pattern Is notable. Don’t just trade it, Seasonax it!