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Oil's Big Week: 2-Way Volatility Returns - Chop City

If I had any hair left on my head, it would be standing on end after this past week in the crude oil market. Intense focus these days is not only on the price of active month NYMEX and Brent crude oil, but also on each tick throughout the day. The nominal price of crude oil at any point in the trading day is perhaps the most meaningless clue to where values may be heading, but that is what the financial press likes to focus on. It makes for a great sound bite but it is a shallow way at looking at the most important raw material and political asset in the world -- the blood that flows through the veins of the earth.

Making oil traders' heads spin

For seven months, we watched as crude oil fell on a daily basis. Each day's lows turned into the highs on… Read More …