oil prices June 5, 2015 -April 23, 2016

The chart above represents NYMEX oil prices from June 5, 2015 to April 22, 2016. In the beginning of June 2015 oil prices were about $1.90/g of heating oil, down about 50% of the previous year. On January 12, 2016 heating oil was under $1 for the first time in years, and on January 20, 2016 it dropped to $0.86 – a record low. Since then prices have recovered slightly and currently around $1.30. Some analysts are predicitng oil prices will recover to $60/barrel by the end of the year. Considering current oversupply most analysts agree that prices will remain around $45/barrel at leat until the end of 2016.