Wild crude oil price swings may be the new normal for markets [CNBC]
IHS Markit Ltd. Common Shares (INFO)
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Source: CNBC
Wild price swings may be the new normal for crude oil markets as US, Russia and Saudis vie for influence Sergio Moraes | Reuters Saudi Arabia's Crown Prince Mohammed bin Salman speaks with Russia's President Vladimir Putin during the opening of the G20 leaders summit in Buenos Aires, Argentina November 30, 2018. If volatile oil markets are the new normal, the world's three largest oil producers — America, Saudi Arabia and Russia — are the reason why. During just six months crude oil prices ripped higher by about 20 percent, plunged more than 40 percent and snapped back 25 percent. The intense volatility is something analysts warn is becoming par for the course in global oil markets. December was a real nightmare for crude, where the swings were $50 at a low, $86 at a high and $68 for the average of Brent crude oil. Brent was trading at just under $62 per barrel in the futures market Friday, while Western Texas Intermediate was close to $53 per barrel. Booming U.S. oil production, and
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