Oil(Global price of Brent Crude)

1. Collectdata about the market using theFREDThe starting date and the frequency of the data is up to you (use your economic judgment).(15 Points)
2. Createa time series graph based on your data.(15 Points)
3. Identifyperiods with sharp increase or sharp decrease.(10 Points)
4. Selectone of the periods you identified in the previous part and explain the changes in the market. Your explanation should be based on real life events and facts collected from legitimate sources. Using your own words, provide economic intuition about the event and its effect on the market.(40 Points)
5. Illustratethe changes in the market usingDemandandSupplygraph (make sure to identify old and new equilibrium prices on the graph).(10 Points)
6. Providethe name and the link for every source you used in this project.(10 Points)