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The madness of the oil market

FT Archive | The past two years have seen the biggest swings in the oil price in 14 years as geopolitics and the energy transition bewilder traders

Here’s a chart of the oil price.

In the past two years, oil has been traded as cheaply as $19 a barrel (or below zero if you were buying a US blend called West Texas Intermediate) and as high as $139 a barrel.

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