As 2018 winds down, we can expect the oil market rollercoaster to continue its wild ride into the year ahead. And wild it has been. West Texas Intermediate (WTI) crude prices rose close to 30% between January and October, from $60/bbl to $78/bbl, only to crash to multi-year lows this December. WTI futures are now trading under $45 whereas Brent crude – the global benchmark – is now trading in the $50-60/bbl range. What’s more, day-to-day oil prices are fluctuating as much as 5%, reflecting an unprecedented level of volatility in the marketplace.
