Oil Price Volatility Soars as War Risk Grips the Market

Crude oil markets experienced intense volatility between March 8 and March 12 as traders reacted to escalating geopolitical tensions, threats to global oil shipping routes, and emergency supply measures from major consuming nations. The week saw both benchmarks swing sharply as the market tried to price in the risk of a major supply disruption in the Middle East. By Thursday’s close, nearby West Texas Intermediate crude futures were trading at $96.77, up $5.87 or 6.46%, reflecting how quickly sentiment shifted during the week. At the center…