Monday, January 12, 2009

$10 To $15 Swings In The Oil Market

Describing the state of the oil market at the moment requires just two words: unprecedented volatility.

Over the course of each week, we continue to see the price whipsaw back and forth with $10 to $15 per barrel ranges. For example, having hit a low of $33 a barrel near the end of December, oil climbed back up to the $50 level last week, and is currently trading near $38 a barrel as I write (so it could be entirely different by the time you read this!)


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