The markets are in serious trouble as the extreme oil price volatility continues to devastate the global economy. Investors and analysts today are totally clueless because they have become the frogs burnt to a crisp in the frying pan. Over the past several decades, the oil price has fluctuated tremendously, much like the EKG of an individual whose vital signs have run amuck.
Unfortunately, no seems to notice, and no one seems to care (George Carlin). However, the market and traders have grown accustomed to the volatile trading insanity as the oil price rises and falls 3-5% in a day. Today, the West Texas Intermediate (WTI) Crude oil price has been down more than 4%:
And if we consider that the oil price was trading at $74 just last week, it is now down a further stunning 8%. However, if we look at the oil price over a six-month period, the price fluctuations are even more significant: