Oil Whipsaws as War Risk and Emergency Supply Measures Collide

From Sunday through late Thursday, oil swung sharply as traders moved between two competing forces: escalating war risk in the Middle East and a growing policy response aimed at easing supply shortages. As of late Thursday, nearby WTI crude oil traded at $94.13, down $3.90 or 3.98%, reflecting how quickly sentiment shifted during the week. War Risk Collides With Supply Relief, Driving Violent Oil Price Swings Early in the week, crude prices moved lower as initial fears of a complete supply choke eased. Reports indicated that some tankers had begun…