Oil Prices See Wildest Swings Since 2008 as Benchmarks Top $115
(Bloomberg) -- Oil prices haven't been this volatile since the peak of the financial crisis.Â
West Texas Intermediate has moved by more than $4 intraday in each of the last six trading sessions -- something it hasn't done since 2008.
That comes as the U.S. benchmark's headline price this week topped $115 for the first time since 2008. Global benchmark Brent also climbed above that level, as the war in Ukraine boosts the value of everything from crude to refined products, with self-sanctioning proving a major impediment to trading.Â
©2022 Bloomberg L.P.
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