Prices drop sharply on Monday, recover 8.7% on Wednesday
Oil prices have experienced a wild ride in the past week, with major jumps and drops in individual days.

WTI prices have been erasing much of the gains seen since the downturn bottomed out in early 2016, reaching multi-year lows.

Prices declined sharply on Monday, dropping by 6.7% overall and reaching $42.36/bbl in intraday trading. WTI closed the day at $42.53/bbl, the lowest price seen since October 2016. While this 6.7% drop was large by any standards, it falls short of several drops seen in the past two months.

After Monday’s decline, oil prices rallied on Wednesday, jumping by as much as 10.5% in intraday trading and ending the day up 8.7% at $46.22/bbl. This is a histo...


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