Why did the pattern(s) occur or not occur? · What occurred beginning in 2005 that increased the price of oil and why did it continue to increase until 2008? · What occurred beginning

Sheet1

Brent Crude Oil Prices

Average Closing Price
ERROR:#N/A

1988
$14.91
$14.91

1989
$18.23
17.234

1990
$23.76
21.8022

1991
$20.04
20.56866

1992
$19.32
19.694598

1993
$17.01
17.8153794

1994
$15.86
16.44661382

1995
$17.02
16.847984146

1996
$20.64
19.5023952438

1997
$19.11
19.2277185731

1998
$12.76
14.7003155719

1999
$17.90
16.9400946716

2000
$28.66
25.1440284015

2001
$24.46
24.6652085204

2002
$24.99
24.8925625561

2003
$28.85
27.6627687668

2004
$38.26
35.0808306301

2005
$54.57
48.723249189

2006
$65.16
60.2289747567

2007
$72.44
68.776692427

2008
$96.94
88.4910077281

2009
$61.74
69.7653023184

2010
$79.61
76.6565906955

2011
$111.26
100.8789772087

2012
$111.57
108.3626931626

2013
$108.56
108.5008079488

2014
$98.97
101.8292423846

2015
$53.03
67.6697727154

2016
$45.13
51.8919318146

2017
$54.71
53.8645795444

2018
$71.34
66.0973738633

2019
$64.28
64.825212159

2020
$41.96
48.8195636477

2021
$70.86
64.2478690943

2022
$91.69
68.8763607283

Crude Oil Prices, Brent Crude

Actual 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 14.91 18.23 23.76 20.04 19.32 17.010000000000002 15.86 17.02 20.64 19.11 12.76 17.899999999999999 28.66 24.46 24.99 28.85 38.26 54.57 65.16 72.44 96.94 61.74 79.61 111.26 111.57 108.56 98.97 53.03 45.13 54.71 71.34 64.28 41.96 70.86 91.69 Forecast 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 #N/A 14.91 17.233999999999998 21.802199999999999 20.568659999999998 19.694597999999999 17.815379399999998 16.446613819999996 16.847984145999998 19.502395243799999 19.227718573139999 14.700315571941999 16.940094671582596 25.144028401474777 24.665208520442434 24.892562556132727 27.662768766839818 35.080830630051942 48.723249189015583 60.228974756704673 68.776692427011398 88.491007728103412 69.765302318431026 76.656590695529303 100.8789772086588 108.36269316259762 108.50080794877928 101.82924238463377 67.669772715390124 51.891931814617038 53.864579544385109 66.097373863315539 64.82521215899466 48.819563647698402 64.247869094309522

Years

Closing Prince per Barrel