Oil volatility pushes prices past $100bbl mark

Oil spiked to nearly $120/bbl overnight before retreating to $108/bbl, an intraday swing of roughly $12 (~11%). The sharp, short-lived move indicates elevated crude market volatility and could boost near-term energy costs and upside inflationary pressure. President Trump said he does not believe the market shock will be prolonged, a comment likely intended to calm investor sentiment but uncertainty remains.

Analysis

Oil spiked to nearly $120/bbl overnight before retreating to $108/bbl, an intraday swing of roughly $12 (~11%). The sharp, short-lived move indicates elevated crude market volatility and could boost near-term energy costs and upside inflationary pressure. President Trump said he does not believe the market shock will be prolonged, a comment likely intended to calm investor sentiment but uncertainty remains.