volatility returns to oil markets this week; West Texas Intermediate finishes above $110 a barrel
Volatility returned to oil markets this week as prices rode the roller coaster down and then back up past the $100 level.
West Texas Intermediate on the New York Mercantile Exchange sank $10 in the first two trading sessions of the week – $6.68 Monday and another $3.33 Tuesday, sending prices below $100 a barrel. Prices then regained their footing, climbing $5.95 on Wednesday. WTI rose $4.36 or 4.1 percent Friday to close the week at $110.49, up from $103.09 at Monday’s close and $109.77 at last Friday’s close. The posted price ended the week at $106.97, according to Plains All-American.