Mar 16, 2022 - Energy & Environment

Charting oil's convulsions

West Texas Intermediate crude oil prices
Data: FactSet; Chart: Baidi Wang/Axios

Oil prices remain high and volatile, but have backed off the surge that started with Russia's invasion.

The big picture: Traders are weighing a mix of bulling and bearish forces, including reduced Russian barrels, COVID restrictions in China, and nuclear talks with Iran that could bring more supplies.

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