🚨 OIL SEES EXTREME VOLATILITY
Oil markets have experienced one of the most dramatic swings in recent history.
After markets closed on March 6, crude was trading around $91 per barrel.
When trading reopened on March 8, prices gapped up to $98, marking a 7% jump over the weekend.
Momentum accelerated quickly, with oil surging from $98 to $119 in just five hours, a massive 21% spike.
The rally was driven by fears of supply disruption after the Strait of Hormuz was reportedly closed, a critical route that carries about 20% of the world’s oil supply.
However, the surge didn’t last.
Oil then plunged roughly 31% within 19 hours after the G7 signaled a potential emergency release of up to 400 million barrels from strategic reserves, easing supply fears and triggering a sharp market reversal.
#OilTops$100 #Web4theNextBigThing?
