The price of oil can be extremely volatile.
This decade alone we’ve seen a barrel of oil trade at a low of negative $37 in the pandemic and more than $130 following the start of the Russia-Ukraine war.
But prices have been surprisingly stable over the past couple of decades. Oil prices first touched $60/barrel in the summer of 2005. It was at the same level as recently as a couple of weeks ago.
That’s two lost…