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Crude Oil Priced In Euros & Yen at Trader’s Narrative

Crude Oil Priced In Euros & Yen

Since the chart of crude oil priced in gold was interesting, Edward requested a chart of crude oil in Euros:

crude oil priced in euros long term chart

and for good measure, here is a chart of crude oil priced in Japanese Yen:

crude oil priced in yen long term chart

You’ll notice I didn’t include the axis on the charts - that’s because they would have been meaningless since I took the price of crude and calculated a ratio of it and the Euro Index and the Yen Index. So the charts are a very good approximation but not exact in showing crude in either currency. They are still useful and do provide a lot of information.

In any case, they show pretty much the same thing as the normal crude oil chart (priced in US dollars). It is safe to say that everyone is hurting.

I have family in Europe and they tell me things are very grim economically. From anecdotal evidence it would seem even more so that in North America, Europe is undergoing a deep recession.

Readers from Europe are free to chime in with their own views :-)

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8 Responses to “Crude Oil Priced In Euros & Yen”  

  1. 1 Alex from Paris

    I think the economy is slowing down in Europe, but not as much as in the US.
    There is a lot of talk about oil prices, but at the same time unemployment is at its lowest for years in France. Although It’s partly a statistical trick from the government, it still shows that the situation is far from catastrophic, apart from the oil prices.
    Besides, the housing crash is not as severe as in the US here, especially in Paris, where price are holding well, until now.

    The reason for this mild situation is I think, that Germany is again the economic engine of Europe, as it used to be, thanks to its exports to the emerging markets. France is also profiting indirectly.

    I think the key of things to come will be the economic situation in emerging countries, especially China and the other “BRIC” countries, because they have grown so important to the world economy.
    As long as they continue to grow, Europe will be OK.

  2. 2 paul

    It seems the pressure was building and the market just slipped into a new reality.

    In 2005 there was a book, “twilight in the desert” that explained the production, supply/demand issues and there were many talks and studies before that.

    Of course there is speculation, boom and panic. That is usually how price shifts — especially in commodities. Check out the breakdown of the 20 million barrel a day demand (24% of world demand) the US has:

    I think oil will remain expensive priced in anything, but it will not bring down the world.

  3. 3 chavez

    All the credit for the rise in the crude prices goes to our own investment banks Goldman and Morgan who are making sure that the world gets f**ked and enters a terrible depression.

    EIA is a joke, any hedgie out there can pay few bucks to hack these numbers.

    In the short term crude should be at 150 this week and 200 in two weeks.

  4. 4 Gerimegaly

    It’s interesting to see the chart priced, in other currency…But whatever currency it is in, Crude looks set to go higher…based on the Futures Charts, on my blog. Cheers!

  5. 5 lccheh

    At least here in the UK, the recession is lagging that in the US. Housing prices peaked in 2006- early 2007 in the US i believe. Here they have recently peaked. That said the transmission effect from the US housing downturn, the subsequent liquidity squeeze, lower equities and higher commodities are likely to feed into the european economy faster than it took for the US economy to get hurt.

    It does not feel that bad yet unless you owned HBOS and RBS shares, or lots of housing-related shares. That said, the financial strain is feeding its way through the economy and with the Bank of England and ECB hawkish on inflation, there will be no respite for equities, while corporate issuance and private debt will get hit hard as will homeowners.

    So the pinch isn;t that bad, at least not in london. But it will be.

    PS, thanks for all the free material that the blog offers

  6. 6 Darrell

    I think the oil chart will look just like this one in another year or two

  7. 7 scaurus81

    I can give my point of view from Italy.

    In only 6 months the ” benzina verde ” ( that is gasoline, fuel ) is advanced of 26%,

    from 1,23 €/litre to 1,545 €/litre.

    Una bella batosta.

    The use of crude oil in May is lower of 9%.

    P.S. : Forgive-me my bad english

  8. 8 Alexl


    ironic is that uranium topped last year in the beginning of july. is oil there?
    but the price was 139 or smth.

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