Why has the price of oil been so volatile lately?

[Inspired]

Why has the price of oil plummeted in the last few weeks? Has the expected fall in future demand really had such a profound impact on oil prices?

Thanks,

Inspired

 

[Rhody Trader]

Volatility is correlated. With all that's going on in stocks and fixed income, oil was bound to be volatile. The demand question aside, players have been pulling out of crude steadily for months, based on the running drop in open interest that's been going on. There's been talk about forced liquidations and things like that.

 

[JTrader]

Why has the price of oil plummeted in the last few weeks? Has the expected fall in future demand really had such a profound impact on oil prices?

Thanks,

Inspired

The worlds financial markets have been bordering on total meltdown & collapse.

I suspect that has something to do with it.