From 2001 to 2004, Chevron stock traded flat mostly in the mid-$30 to mid-$40 range. During the winter of 2004 to the spring of 2008, Chevron trended higher as the oil patch climbed along with energy prices. In May of 2008, Chevron stock rose to a new all-time high above $100/bbl as crude prices rose towards $147/bbl. Systemic risk and declining oil prices chopped about 20% off Chevron's share price before the end of the year.
The commodity complex stabilized slightly during November as flattening oil prices calmed volatile energy stocks. On October 31st, Chevron closed at $74.60. By November 28th, the stock price rose to $79.01, representing a 5.9% increase.
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