🚨 OIL HAS NEVER SEEN SUCH VOLATILITY IN HISTORY. After markets closed on March 6, oil was trading around $91 per barrel. When markets reopened on March 8, it gapped up to $98, a 7% jump over the weekend. In just 5 hours, oil skyrocketed from $98 to $119, a massive 21% surge. The price exploded because the Strait of Hormuz was closed, trapping 20% of the world's oil. But it crashed 31% in 19 hours after the G7 announced a possibility of massive emergency release of 400 million barrels.