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Oil slid up and down and up and up this week

An oil well near Denver, Colorado in the US.
Reuters/Rick Wilking
The oil bust is starting to show up in broader economic data.
Published This article is more than 2 years old.

After falling for months and months and months, oil prices have shown some life in the last week. A lot of the forces conspiring against oil—slowing global growth, abundant US supply, Saudi Arabia’s standoff with the US over said supply—are still there. This might be the bottom, it might not. Who knows. But folks are poring over tinier details like rig counts and crude stocks, so the volatility of oil futures is up, and that can’t be fun for traders or airline CFOs. Just enjoy the savings at the pump while you can.

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