Crude Whipsaws on Venezuela Headlines as Volatility Surges

Crude Oil finished lower yesterday after reaching the 50-Day moving average, prompting some profit-taking. Later in the day, President Trump tweeted regarding “Venezuela turning over 30-50 million barrels of high-quality oil,” triggering a wave of fear selling. Headline-driven moves can be useful in pushing prices away from fundamental equilibrium, but...2 pumpjacks at sunset by vadimrysev via iStock