Oil price charts produced a pattern not seen in 36 years. What happened last time?

Oil prices have rallied at a pace that, on one technical measure, has not been seen in 36 years. The piece is primarily a historical/technical comparison rather than a fundamental catalyst, so it suggests elevated momentum in crude but does not provide a new supply-demand shock or policy change.

Analysis

Oil prices have rallied at a pace that, on one technical measure, has not been seen in 36 years. The piece is primarily a historical/technical comparison rather than a fundamental catalyst, so it suggests elevated momentum in crude but does not provide a new supply-demand shock or policy change.