During just six months crude oil prices ripped higher by about 20 percent, plunged more than 40 percent and snapped back 25 percent, an intense volatility that analysts warn could be the new normal in the oil market.
December was a real nightmare for the global market, where the swings were $50 at a low, $86 at a high and $68 for the average of Brent crude oil. Brent was trading at about $62.44 per barrel in the futures market Tuesday, while Western Texas Intermediate was $54.25 per barrel.
