Most Volatile Oil Market Since ’09 Seen Persisting on Oversupply
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The most volatile oil market in almost six years is forecast to continue seesawing as a global glut that drove prices lower last year persists for at least the first half of 2015.
The CBOE Crude Oil Volatility Index, which measures price fluctuations using options of the U.S. Oil Fund, ended at 62.73 on Wednesday, the highest level since April 2009. Another measure shows West Texas Intermediate, the benchmark U.S. crude contract, is fluctuating the most in almost 3 1/2 years.