This WTI oil chart captures the chaos of the past 48 hours perfectly.

After Donald Trump announced a ceasefire, oil prices collapsed nearly 20%+, falling from around $117 to the low $90s as markets priced in easing supply risks

Economies.com

But the calm didn’t last. Rising tensions including threats around the Strait of Hormuz quickly pushed oil back above $100 as supply

The Economic Times

Then came fresh diplomatic signals, with talks re-emerging, sending prices lower again toward the high $90s.

At this point, oil isn’t just reacting it’s whipsawing. Every headline tied to this conflict is triggering massive, double-digit moves within hours, showing just how sensitive the market is to geopolitical risk right now.